Crypto Staking Platform Figment Raises $50 Million
- The company’s Series B funding round was led by Senator Investment Group and Liberty City Ventures.

Figment, one of the leading crypto staking platforms, recently announced that the company has secured $50 million in Series B funding to expand its services.
According to an official announcement, Senator Investment Group and Liberty City Ventures led the latest funding round of the crypto staking firm. Other participants include Mike Novogratz’s investment management firm Galaxy Digital, Anchorage Digital, Declaration Partners, Bonfire Ventures, 10T Holdings, and JPK Capital.
Figment also outlined the importance of the growing Proof-of-Stake (PoS) Proof-of-Stake (PoS) Proof-of-stake is a type of consensus algorithm in which a blockchain network aims to achieve distributed consensus. It is also process used to reach an agreement on a single data value. In PoS-based cryptos, the creator of the next block is chosen through various combinations and parameters. In essence, an individual person can mine or validate block transactions based on how many coins he or she holds. Adhering to this concept, the more Bitcoin or altcoin owned by a miner, the greater the mining power he or she has.On a blockchain network, consensus algorithms are used to confirm transactions. They ensure that each block (bundle of data) that is added to a blockchain (public ledger) is the singular version of the truth, which prevents fraudulent transactions and other kinds of tampering. Understanding PoS AlgorithmsPoS algorithms do not select the nodes that confirm transactions based on how powerful their equipment is. Instead, the nodes that confirm transactions (called forgers or minters) are selected randomly from a pool of nodes that continuously hold or stake a certain amount of cryptocurrency in a network. In other words, nodes are chosen to confirm transaction based on their wealth. Most PoS networks have a limited number of crypto-coins, all of which are already in circulation. Therefore, forgers do not receive rewards from an uncirculated supply. Instead, they receive payment in the form of transaction fees.By extension, Proof-of-Work (PoW) are another type of consensus algorithm entirely. These reflect a process that is used to reach an agreement on a single data value. PoW can help deter denial-of-service attacks and other forms of service abuse, most notably spam on a network by requiring some work from the service requester. Proof-of-stake is a type of consensus algorithm in which a blockchain network aims to achieve distributed consensus. It is also process used to reach an agreement on a single data value. In PoS-based cryptos, the creator of the next block is chosen through various combinations and parameters. In essence, an individual person can mine or validate block transactions based on how many coins he or she holds. Adhering to this concept, the more Bitcoin or altcoin owned by a miner, the greater the mining power he or she has.On a blockchain network, consensus algorithms are used to confirm transactions. They ensure that each block (bundle of data) that is added to a blockchain (public ledger) is the singular version of the truth, which prevents fraudulent transactions and other kinds of tampering. Understanding PoS AlgorithmsPoS algorithms do not select the nodes that confirm transactions based on how powerful their equipment is. Instead, the nodes that confirm transactions (called forgers or minters) are selected randomly from a pool of nodes that continuously hold or stake a certain amount of cryptocurrency in a network. In other words, nodes are chosen to confirm transaction based on their wealth. Most PoS networks have a limited number of crypto-coins, all of which are already in circulation. Therefore, forgers do not receive rewards from an uncirculated supply. Instead, they receive payment in the form of transaction fees.By extension, Proof-of-Work (PoW) are another type of consensus algorithm entirely. These reflect a process that is used to reach an agreement on a single data value. PoW can help deter denial-of-service attacks and other forms of service abuse, most notably spam on a network by requiring some work from the service requester. Read this Term) industry. The crypto platform mentioned that the launching of Ethereum 2.0 and other PoS layer 1 protocols like Polkadot, Solana, and Terra indicate that the PoS industry is becoming an integral part of the crypto ecosystem.
The crypto staking industry has seen phenomenal growth in the last few years. According to a recent report published by JPMorgan, staking could become a $40 billion industry by 2025.
Commenting on the latest Series B funding announcement, Lorien Gabel, CEO of Figment, said: “This funding round marks the start of a new chapter at Figment that aligns with the evolution of the industry. PoS has gone from proof of concept to mainstream and is being adopted by investors and developers at a massive scale. Our 100+ institutional clients and billions in AUM are just the beginning for us. Our belief is that the majority of value and data will be exchanged, settled, and stored on PoS blockchains.”
Growth
In addition to the funding round, Figment also highlighted a significant jump in the company’s growth during the last two years. The crypto staking company reached over $7B in digital assets staked to its infrastructure across the 40+ networks.
Figment, one of the leading crypto staking platforms, recently announced that the company has secured $50 million in Series B funding to expand its services.
According to an official announcement, Senator Investment Group and Liberty City Ventures led the latest funding round of the crypto staking firm. Other participants include Mike Novogratz’s investment management firm Galaxy Digital, Anchorage Digital, Declaration Partners, Bonfire Ventures, 10T Holdings, and JPK Capital.
Figment also outlined the importance of the growing Proof-of-Stake (PoS) Proof-of-Stake (PoS) Proof-of-stake is a type of consensus algorithm in which a blockchain network aims to achieve distributed consensus. It is also process used to reach an agreement on a single data value. In PoS-based cryptos, the creator of the next block is chosen through various combinations and parameters. In essence, an individual person can mine or validate block transactions based on how many coins he or she holds. Adhering to this concept, the more Bitcoin or altcoin owned by a miner, the greater the mining power he or she has.On a blockchain network, consensus algorithms are used to confirm transactions. They ensure that each block (bundle of data) that is added to a blockchain (public ledger) is the singular version of the truth, which prevents fraudulent transactions and other kinds of tampering. Understanding PoS AlgorithmsPoS algorithms do not select the nodes that confirm transactions based on how powerful their equipment is. Instead, the nodes that confirm transactions (called forgers or minters) are selected randomly from a pool of nodes that continuously hold or stake a certain amount of cryptocurrency in a network. In other words, nodes are chosen to confirm transaction based on their wealth. Most PoS networks have a limited number of crypto-coins, all of which are already in circulation. Therefore, forgers do not receive rewards from an uncirculated supply. Instead, they receive payment in the form of transaction fees.By extension, Proof-of-Work (PoW) are another type of consensus algorithm entirely. These reflect a process that is used to reach an agreement on a single data value. PoW can help deter denial-of-service attacks and other forms of service abuse, most notably spam on a network by requiring some work from the service requester. Proof-of-stake is a type of consensus algorithm in which a blockchain network aims to achieve distributed consensus. It is also process used to reach an agreement on a single data value. In PoS-based cryptos, the creator of the next block is chosen through various combinations and parameters. In essence, an individual person can mine or validate block transactions based on how many coins he or she holds. Adhering to this concept, the more Bitcoin or altcoin owned by a miner, the greater the mining power he or she has.On a blockchain network, consensus algorithms are used to confirm transactions. They ensure that each block (bundle of data) that is added to a blockchain (public ledger) is the singular version of the truth, which prevents fraudulent transactions and other kinds of tampering. Understanding PoS AlgorithmsPoS algorithms do not select the nodes that confirm transactions based on how powerful their equipment is. Instead, the nodes that confirm transactions (called forgers or minters) are selected randomly from a pool of nodes that continuously hold or stake a certain amount of cryptocurrency in a network. In other words, nodes are chosen to confirm transaction based on their wealth. Most PoS networks have a limited number of crypto-coins, all of which are already in circulation. Therefore, forgers do not receive rewards from an uncirculated supply. Instead, they receive payment in the form of transaction fees.By extension, Proof-of-Work (PoW) are another type of consensus algorithm entirely. These reflect a process that is used to reach an agreement on a single data value. PoW can help deter denial-of-service attacks and other forms of service abuse, most notably spam on a network by requiring some work from the service requester. Read this Term) industry. The crypto platform mentioned that the launching of Ethereum 2.0 and other PoS layer 1 protocols like Polkadot, Solana, and Terra indicate that the PoS industry is becoming an integral part of the crypto ecosystem.
The crypto staking industry has seen phenomenal growth in the last few years. According to a recent report published by JPMorgan, staking could become a $40 billion industry by 2025.
Commenting on the latest Series B funding announcement, Lorien Gabel, CEO of Figment, said: “This funding round marks the start of a new chapter at Figment that aligns with the evolution of the industry. PoS has gone from proof of concept to mainstream and is being adopted by investors and developers at a massive scale. Our 100+ institutional clients and billions in AUM are just the beginning for us. Our belief is that the majority of value and data will be exchanged, settled, and stored on PoS blockchains.”
Growth
In addition to the funding round, Figment also highlighted a significant jump in the company’s growth during the last two years. The crypto staking company reached over $7B in digital assets staked to its infrastructure across the 40+ networks.