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LBank Labs leads investment round in FortyTwo, pioneering UX frontend for interchain DeFi
Written by Written by AMBCrypto Team
Reviewed by Reviewed by AMBCrypto Team
Updated February 24, 2024
Press Release

LBank Labs, a leading blockchain investment fund of $100M AUM announced today its participation in a strategic funding round for FortyTwo, a revolutionary UX frontend for decentralized finance (DeFi) across the interchain ecosystem. The investment round also saw participation from a distinguished list of funds and angel investors.

FortyTwo is actively developing technology to scale rapidly across Cosmos chains and aims to extend its reach beyond the Cosmos ecosystem. With a long-term vision to become the Robinhood of interchain DeFi, FortyTwo is positioned to streamline and enhance the user experience in the decentralized financial space.

The founder of FortyTwo, Daniel Machlup, brings a wealth of experience from his tenure at Binance Labs and Menlo Ventures. A recent graduate of UC Berkeley, Machlup is joined by a team of three talented engineers. The team has demonstrated its capabilities by graduating from the Berkeley Blockchain Accelerator, securing second place in the Neutron track of the Delphi Digital Hackathon, and winning the Gateway to Cosmos Demo Day in Prague.

Daniel Machlup expressed his enthusiasm for the collaboration, saying, “I’ve known the LBank team for a long time, and I’m consistently impressed by the quality of the team, industry knowledge, their DD process, and their network of amazing founders/investors. Very much looking forward to working alongside them!”

An alliance of distinguished funds, comprising LBank Labs, LongHash, DoraHacks, Interop Ventures with Sebastien Couture, Kahuna Ventures featuring Pieter Bakhuijzen as an angel in Nansen, Public Works led by Scott Moore from Gitcoin, and Binary Builders, joined forces to invest in FortyTwo, a cutting-edge UX frontend for decentralized finance (DeFi) across the interchain ecosystem. Notably, key angel investors such as Sam Cassatt from the founding team at ConsenSys, Dean Eigenmann, co-founder of Dialectic and early ENS, and Noam Cohen from the Interchain Foundation, have played a strategic role in supporting this innovative venture.

Valeria Kholostenko, Principal at LBank Labs, shared her perspective on the investment, stating, “FortyTwo is a solution that represents a logical evolution in aggregating dApps, wallets, and DeFi solutions into one. We are confident the tool will be used by many as there is nothing else like it on the market, and we are bullish on the Cosmos ecosystem.”

With LBank Labs leading the investment, FortyTwo is well-positioned to accelerate its development and achieve its ambitious goals in reshaping the landscape of interchain DeFi. The collaboration between LBank Labs and FortyTwo marks a significant milestone in advancing user-friendly solutions within the decentralized finance space.

About LBank Labs

LBank Labs is a prominent blockchain investment fund with a focus on supporting innovative projects and entrepreneurs in the blockchain and cryptocurrency space. With a commitment to fostering technological advancements, LBank Labs actively seeks opportunities to contribute to the growth and development of the blockchain ecosystem.

LBank Labs’ portfolio includes projects like Entangle, Puffer Finance, LunarCrush, Navi Protocol, Exabits, Hivello, and many more. LBank Labs has also invested in VC funds such as Collab Currency, SevenX Ventures, IOSG Ventures, Blockchain Builders Fund, Public Works, and more.

About FortyTwo

FortyTwo is a leading UX frontend for decentralized finance (DeFi) across the interchain ecosystem. Founded by Daniel Machlup, a seasoned professional with a background in Binance Labs and Menlo Ventures, FortyTwo aims to streamline and enhance the user experience in the rapidly evolving world of decentralized finance.

Disclaimer: This is a paid post and should not be treated as news/advice.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

AMBCrypto Team

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