AllianceBlock Strikes Deal With Crunchbase to Bring Traditional Business Data to DeFi

AllianceBlock, a blockchain-agnostic platform designed to link traditional (TradFi) and decentralized finance (DeFi), has signed a deal to add business data from Crunchbase to its ecosystem.

The deal is Crunchbase's first foray into the crypto market. The firm's data, which includes funding rounds as well as information on earnings, will initially be available to AllianceBlock’s Data Tunnel users. The tunnel is a tool that lets users publish, share and consume data in a variety of formats.

“The buying and selling of data is a multibillion-dollar growth industry that shows no signs of slowing down," said Rachid Ajaja, CEO and co-founder of AllianceBlock. "However, until now, decentralized and centralized data providers and users have operated in siloes, unable to interact."

The agreement follows AllianceBlock's recent deal with investment firm ABO Digital to offer institutional and retail investors a series of tokenized investment products.

The AllianceBlock token (ALBT) plunged by 51% last month after Bonq, a decentralized borrowing protocol, was struck with an exploit worth around $5 million. AllianceBlock responded by suspending trading of the token, taking a snapshot before issuing a new token to replace the legacy ALBT.

AllianceBlock have since then resolved the issue and introduced a new token Nexera (NXRA), which has about $46 million of market-cap, according to CoinGecko data.