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FTX, Liberty City Lead $20M Raise for Dev Platform DoraHacks

The hackathon startup will use the funds to launch an NFT-focused venture fund, among other things.

By Brandy Betz
AccessTimeIconMay 18, 2022 at 1:00 p.m. UTC
Updated May 11, 2023 at 6:45 p.m. UTC
Scenes from Solana's Miami Hacker House in April 2022 (Danny Nelson/CoinDesk)
Scenes from Solana's Miami Hacker House in April 2022 (Danny Nelson/CoinDesk)
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Hackathon organizer DoraHacks has raised $20 million in a funding round led by FTX Ventures, the investment arm of crypto exchange FTX, and Liberty City Ventures.

Other participants in the round included Circle Ventures, Gemini Frontier Fund, Sky9 Capital, Crypto.com Capital and Amber Group.

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    • DoraHacks has curated hackathons for over 200 Web 3 startups and developer teams, including the Solana, Polygon and Avalanche ecosystems. The funding round’s backers said in a press release that having access to the front lines of blockchain development was an attractive opportunity.

    The capital will be used to drive the launches of the Dora Grant DAO, a decentralized grant community, and Dora Infinite Fund, a venture fund focused on non-fungible tokens (NFTs).

    DoraHacks previously raised $8 million last November in a strategic funding round led by Binance Labs.

    Read more: Binance Labs Invests $8M in Hackathon Organizer DoraHacks

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz
    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.

    Follow @BrandyBetz on Twitter

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