Crypto startup BOB completes community sale, lifting overall funding above €21 million
London-based crypto infrastructure startup BOB has completed its community sale, raising over €21 million ($25 million) in total funding, a significant development for the European blockchain sector. This milestone underscores the growing interest in Bitcoin DeFi and reflects the increasing investment in digital asset infrastructure across Europe. The funding will support BOB's mission to become the Gateway to Bitcoin DeFi. The community sale, led by BOB Labs, allocated $BOB tokens to 2,133 participants, adding €3.6 million ($4.2 million) to the total. Participants could purchase tokens at fully diluted valuations (FDVs) of €142 million ($165 million) (Community Member tranche) and €199 million ($230 million) (Public tranche). The sale is an important step towards transitioning BOB to community ownership, which aligns with BOB’s mission. The investment highlights the UK's emergence as a key player in the European blockchain scene, alongside France's growth in DeFi. BOB aims to unlock €606 billion ($700 billion) in idle BTC, increasing Bitcoin's DeFi utilization. This funding enables BOB to achieve technical milestones, including becoming the first hybrid ZK rollup and launching a BitVM bridge. With the Token Generation Event (TGE) approaching and the transition to community governance, BOB is poised to continue developing its Bitcoin DeFi roadmap. This progress is part of a broader trend of innovation in digital assets, with the potential to reshape the financial landscape.
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