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Alpen Labs Looks to Scale Bitcoin With Zero-Knowledge Proofs Using $10.6M Funding
Alpen Labs has emerged from stealth mode following the funding round, having spent the last year developing Bitcoin rollup infrastructure to bring smart contract functionality to the network
Updated Apr 10, 2024, 3:14 p.m. Published Apr 10, 2024, 3:11 p.m.
- Alpen Labs has emerged from stealth mode following the $10.6 million funding round led by Ribbit Capital
- Zero-knowledge technology is more commonly associated with Ethereum and is the sort of development that the Bitcoin community has resisted historically
Bitcoin layer-2 developer Alpen Labs, which has raised $10.6 million in funding, is looking to scale the blockchain of the world's largest cryptocurrency with zero-knowledge proofs.
Alpen Labs has emerged from stealth mode following the funding round, having spent the last year developing Bitcoin rollup infrastructure to bring smart contract functionality to the network.
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Its $10.6 million seed round was led by Ribbit Capital and included contributions from Castle Island Ventures, Robot Ventures and Axiom Capital.
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Zero-knowledge technology allows for data to be transferred securely and quickly between parties and is used to scale blockchains through rollups. Rollups are networks that operate in conjunction with a blockchain, bundle up transactions, to then be settled on the principal network, which will in theory improve speed and reduce costs.
Such developments have been relatively absent historically from Bitcoin, whose core developers have focused on keeping the network simple in the interest of security.
However, the proliferation of the Ordinals protocol in early 2023 followed by the release of Robin Linus's BitVM have demonstrated the appetite for development on the network to increase Bitcoin's utility.
Read More: Bitcoin Zero-Knowledge Rollup Citrea Raises $2.7M in Seed Funding
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
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Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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