Barclays-minBarclays, a leading financial institution in the UK, is showing interest in cryptocurrency. Barclays will be among the investors that will participate in a funding round for Copper, a leading company in the cryptocurrency sector.

Barclays is joining the growing list of traditional financial companies moving toward the cryptocurrency sector. In the US, banking giants such as Goldman Sachs and JPMorgan have already endorsed crypto and are extending crypto services to their clients.

Barclays to acquire a stake in Copper

Barclays will be among the new investors participating in a funding round for Copper. Copper is a renowned crypto company with former Chancellor Lord Hammond as one of its advisers.

Barclays is expected to invest a relatively large sum of money in Copper, estimated to be millions of dollars. The funding round will be completed within a few days, and it will see Barclays secure a stake in a renowned cryptocurrency company.

Copper is a cryptocurrency company that offers a wide range of services, including custody, prime brokerage, and settlement. The company largely targets institutional investors that want to allocate funding to cryptocurrencies.

Copper is a crypto firm that was launched in 2018 by Dmitry Tokarev. The company has already attracted some of the largest investors globally, including Dawn Capital, LocalGlobe, and MMC Ventures.

At the beginning of this year, several reports said that Copper wanted to hit a valuation of around $3 billion following the recent funding round. However, the company has cut back on this target due to the recent plunge in crypto asset prices. The cryptocurrency market has been losing value since the beginning of the year, and most assets are down by over 50%.

Cryptocurrency companies face liquidity issues

The declining prices of cryptocurrencies have created a liquidity issue for companies operating in the space. The past two months have seen even some of the largest crypto companies shut down, citing extreme market conditions.

Celsius, which was once one of the largest crypto lending platforms, was among the first to close its doors after halting withdrawals. The company has since filed for Chapter 11 bankruptcy.

Three Arrows Capital and Voyager Digital have also filed for bankruptcy. 3AC was a lading crypto investment fund that failed to meet its loan obligations after an over $200M exposure to the collapsed Terra LUNA ecosystem. 3AC defaulted on a $680M loan issued by Voyager, prompting the latter to file for bankruptcy.

The collapse of these companies has dampened investor confidence in the cryptocurrency market. Venture capital funding has declined significantly over the past few months because of the negative experiences in the sector.


Battle Infinity - Latest Metaverse Game

Our Rating

Battle Infinity
  • Presale Sold Out Early -
  • Upcoming Listing on PancakeSwap
  • Fantasy Sports Themed Games
  • Play to Earn Utility - IBAT Token
  • Powered By Unreal Engine
  • Solid Proof Audited, CoinSniper Verified
Battle Infinity