Former Jane Street, PIMCO traders raise $15M for ZK proof-of-solvency protocol By Cointelegraph
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A team of former Jane Street and PIMCO traders have raised $15 million to produce a proof-of-solvency protocol for centralized exchanges, stablecoin issuers and other asset managers in the crypto space, according to a press release from the team shown to Cointelegraph. Called “Proven,” the new protocol allegedly uses zero-knowledge proofs to reveal an institution’s assets and liabilities without revealing the personal data of customers.
According to the press release, the Proven team consists of quantitative traders, portfolio managers, and researchers from Wall Street firms Two Sigma, Elm Partners, Pimco, Jane Street and others. The initial $15 million seed round was led by crypto-oriented venture capital fund Framework Ventures.
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A team of former Jane Street and PIMCO traders have raised $15 million to produce a proof-of-solvency protocol for centralized exchanges, stablecoin issuers and other asset managers in the crypto space, according to a press release from the team shown to Cointelegraph. Called “Proven,” the new protocol allegedly uses zero-knowledge proofs to reveal an institution’s assets and liabilities without revealing the personal data of customers.
According to the press release, the Proven team consists of quantitative traders, portfolio managers, and researchers from Wall Street firms Two Sigma, Elm Partners, Pimco, Jane Street and others. The initial $15 million seed round was led by crypto-oriented venture capital fund Framework Ventures.
Continue Reading on Coin Telegraph
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