Trust Machines Raises $150M to Expand Web3 on Bitcoin Network

Trust Machines, co-founded by Stacks founder Muneeb Ali and Princeton University computer science professor J.P. Singh, has raised $150 million to build an ecosystem of applications designed to ‘unlock the potential of Bitcoin’ for Web3. Participating investors in the round included Breyer Capital, Digital Currency Group, GoldenTree, Hivemind, and Union Square Ventures. According to an official announcement shared by Dr. Muneeb Ali, a new platform, Trust Machines, launches to develop decentralized applications of various types on the Bitcoin (BTC) network. The latest platform will be built on the recent success of Stacks, a network that facilitates smart contracts that settles on the Bitcoin blockchain. The goal is to create the largest ecosystem of Bitcoin apps and grow the Bitcoin economy. “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. Major news: we’ve raised $150M for a new entity to build the largest ecosystem of Bitcoin applications. Bitcoin can be a productive asset and final settlement layer for web3 apps. Say hello to Trust Machines: https://t.co/pRRxN90R1B — muneeb.btc (@muneeb) February 3, 2022 Growing the Bitcoin Blockchain Tru...