Odaily Planet Daily News - Crypto infrastructure company Function announces the completion of a $10 million seed round financing, led by Galaxy Digital, with participation from Antalpha and Mantle. Function (formerly known as Ignition) is dedicated to bringing institutional-grade yields to Bitcoin, with its flagship product FBTC being a fully reserved, composable representation of Bitcoin, currently achieving a total locked value (TVL) of $1.5 billion. Function states that FBTC can serve as an efficient gateway for institutions and corporate treasuries to deploy Bitcoin, while maintaining complete custodial control and 1:1 asset backing. Galaxy will act as an investor and core contributor, providing support for liquidity, governance, and risk framework design for FBTC. Function CEO Thomas Chen stated, 'By 2026, merely viewing Bitcoin as a passive asset will no longer be sufficient; the new standard will be actively earning yields.' (Coindesk)

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