VerifiedX Foundation Seeks $15 Million for Institutional Bitcoin Expansion

VerifiedX Foundation has initiated a $15 million funding round to expand institutional access to Bitcoin. Cantor Fitzgerald is handling the investment banking side, but details about investors and terms remain undisclosed.

Brian May, a member of VerifiedX Foundation, noted that most current methods for earning yield on Bitcoin require swapping it for someone else's IOU, explaining why under 1% of institutional Bitcoin holdings currently earn any return.

The platform allows deposits and withdrawals through threshold signatures spread across VerifiedX validators, giving holders the option to redeem their funds for native Bitcoin at any time or operate their own validators for added control.