WOO X, one of the cryptocurrency exchanges, received an investment of $ 9 million from a group of investors, including market makers.
According to the statement made by WOO, the investment tour Wintermute, Selini Capital, Time Research, Presto Labs, Pulsar, AlphaLab Capital, Efficient Frontier, Amber and Riverside Hedge He contributed.
Jack Tan, one of the founders of WOO, “Liquidity on WOO to grow significantly we are waiting.” said.
Woo’s token, WOO, was released shortly after the investment news. rose to $0.4418 and then dropped again to $0.4251.
According to the statement made by Woo, the company, “from Kronos Research, the sole liquidity provider” get away and with more liquidity providers decided to change its business model last year to work together.
Kronos suffered a hack attack in November 2023 that resulted in a loss of $ 25 million, which also caused disruptions on Woo’s platform for a short time.
Woo X plans to launch a DMM program for spot markets in the first quarter of this year.
According to the statement, the company received funding from investors. both legal licenses to get as well strengthening its position in global markets will use it for.