Solana DEX raises $18M Series A from Three Arrows Capital, Coinbase Ventures

Read the full article by Sam Bourgi here

Several prominent investors took part in the Orca fundraiser, including Three Arrows Capital, Polychain and Coinbase Ventures.

Orca, which acts as a decentralized exchange on the Solana blockchain finished an $18 million Series A investment round led by some of the biggest venture funds in the cryptocurrency industry.

Further proof of institutional interest in $SOL.

The project was launched less than 8 months ago and have investors ranging from Three Arrows Capital, Polychain, Placeholder, and Coinbase who will be joined by Jump capital, Sino Global Capital, DeFiance Capital, Zee Prime, Collab+Currency and Solana Capital.

However since Decentralized exchanges have drawn the attention of so many in the financial world, it is still being hindered by the lack of clarity the SEC has provided in regards to crypto.

It has not been long since the SEC filed an investigation of Uniswap, a decentralized exchange built on ETH.

Chairman of the SEC Gary Gensler compared DeFI (decentralized finance) to the “Wild west”.

DEXs are not similar to anything the world has really ever seen before and it really was not something anyone ever used prior to 2020.

With that being said, it’s pretty safe to say that the decisions that are made in regards to $UNI will have an instant impact on the growth and innovation of the space.