I’m thrilled to announce that Function has secured a $10 million seed round—led by Galaxy Digital, with key investors Antalpha and Mantle backing our mission . With this capital, we’re advancing FBTC, our institutional-grade, fully reserved bitcoin wrapper that enables treasury teams to earn yield while keeping 1:1 BTC custody .
FBTC already holds $1.5 billion in TVL—proof that the market is ready for bitcoin to do more than just sit idly; it’s ready to work . Galaxy isn’t just funding us—they’re contributing liquidity, strategic oversight, governance and risk design, helping us scale FBTC to major players .
As our CEO, Thomas Chen, rightly points out: by 2026, passive BTC holdings won’t cut it. Institutional allocators want returns, not just appreciation. And that’s exactly what we’re building—productive, programmable BTC infrastructure to help forward-thinking institutions outperform .
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