Bitcoin derivatives exchange Bitnomial raises $11.6 million from investors, per filing

Bitcoin derivatives marketplace Bitnomial has raised $11.6 million from investors, according to a new public filing.

In an October 5 filing, the firm said it raised the money from 13 different investors, with the first sale dated September 18. CoinDesk first reported the fundraising amount.

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The Block previously reported that Bitmonial was seeking to raise as much as $10 million in Series B funding. The money from this fundraising period would support the company’s ambitious plans to create a market-leading bitcoin exchange in the U.S. 

Back in April, Bitnomial was one of the select few U.S. businesses to gain approval from CFTC to manage a designated contracts market (DCM). Such approval allowed Bitmonial to offer bitcoin futures and options, as The Block previously reported. 

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MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.