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Muneeb Ali’s Trust Machines Raises $150M
Participating investors include Breyer Capital, Digital Currency Group, GoldenTree, Hivemind and Union Square Ventures.
Trust Machines, co-founded by Stacks founder Muneeb Ali and Princeton University computer science professor J.P. Singh, has raised $150 million in funding for expanding Bitcoin as a Web 3 platform.
- Participating investors in the round include Breyer Capital, Digital Currency Group (the parent company of CoinDesk), GoldenTree, Hivemind and Union Square Ventures.
- Trust Machines will build on the recent success of Stacks, which is a programming layer for Bitcoin, in making Bitcoin a platform for Web 3 applications, the firm said in a press release.
- Ali is the CEO of Trust Machines and is executive chairman at Hiro, the primary developer of Stacks, where he was previously CEO.
- Stacks was co-founded by Ali and Ryan Shea in 2013 as Blockstack. Stacks is a network that facilitates smart contracts that settle on the Bitcoin blockchain.
- “With the early foundation built, it’s time to concentrate on unlocking the next level of applications and platform technology on Bitcoin, enhancing the platforms for speed, scale and functionality, and making Bitcoin apps a reality for hundreds of millions of users. This is why we launched Trust Machines,” Ali said in the press release.
STORY CONTINUES BELOW
Read more: The Programmable Future of Bitcoin, Feat. Muneeb Ali
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
