CoinWorld news, on July 15, cryptocurrency infrastructure company Function (formerly Ignition) completed a $10 million seed round of financing, led by Galaxy Digital, with participation from Antalpha and Mantle. In addition to the investment, Galaxy Digital will also participate in the core business of FBTC, such as liquidity provision and governance framework design. The company is committed to developing institutional-grade yield solutions for Bitcoin. Function's core product, FBTC, is a fully reserved, composable Bitcoin derivative asset, with a current total locked value (TVL) of $1.5 billion. This product allows institutional users to configure Bitcoin to generate yield while maintaining custodial control and 1:1 asset backing. [CoinWorld]