Kwil, a decentralized database infrastructure provider, has received a large investment, according to a new document. It has raised $9.6 million in a type of financing backed by major companies like Bitcoin and altcoin exchange FTX’s venture capital arm and Digital Currency Group (DCG). Here are the details…
Platform received reinforcements from BTC and altcoin investors
An AngelList job listing for Kwil confirms the funding variant closed in May. The list of Kwil supporters also includes Blockchange, AlleyCorp, and Amplify Partners, all of which are listed as partners on the company’s website. Kwil’s decentralized, community-related platform relies on SQL, a standard programming language for interacting with large databases. This is called KwilDB. Compared to the website, it reduces application development time by allowing developers to quickly execute complex queries in the middle of information sets and access data from other applications. The website includes the following terms:
By extending SQL to decentralized data, building on Web 3.0 becomes local for all developers. Whether you have a social network, an information analytics service, or a complex machine learning algorithm, moving applications from Web 2.0 to Web 3.0 with KwilDB does not require any changes to your existing knowledge or skills.
Is SBF back to buy back crypto firms?
Investing in Kwill, FTX brought to mind the purchases of the company’s CEO, Sam Bankman-Fried (SBF), for crypto companies. Earlier this week, it was reported that Binance and FTX are competing to buy Voyager assets. The most recent US Securities and Exchange Committee (SEC) filing, dated September 22, showed the total bid price to be $9,674,000. The statement said that the nature of the investment is in the form of equity. Along with FTX, Digital Currency Group (DCG) is also said to be part of the $9.60 million financing type.
According to Kwil, FTX is a partner investing in various blockchain projects. According to the platform, “FTX is one of the largest crypto exchanges in the world. It uses its venture arm to invest in projects across all verticals of Blockchain technology.” However, FTX’s new acquisition offer is subject to SEC scrutiny. The SEC said it absolutely did not review the information in the paperwork.
FTX’s UK barrier
Recently, British authorities issued strikes against the use of Sam Bankman-Fried’s FTX crypto exchange. The country’s Financial Conduct Authority (FCA) said that FTX offers artifacts and other services without any authorization. This came amid the acceleration of guidelines on this crypto-asset industry, which is not regulated by the country’s regulators. Koindeks.comAs we reported earlier this year, SBF said it is open to acquiring more firms, including crypto miners.