Solana ecosystem multi-signature management tool Squads completes $5.7 million strategic financing, led by Placeholder VC

ChainCatcher news, according to The Block, Solana ecosystem multi-signature management tool Squads developer Squads Labs announced the completion of a $5.7 million strategic financing round, led by Placeholder VC, with participation from Multicoin Capital, Solana Ventures, Jump Crypto, Solana Labs co-founder Anatoly Yakovenko, Jito Labs CEO Lucas Bruder, and Helius Labs CEO Mert Mumtaz.

Stepan Simkin, co-founder of Squads Labs, revealed to The Block that this is a financing round with token warrants, and he declined to comment on the valuation.

Squads is a multi-signature protocol that helps cryptocurrency companies protect and manage their on-chain digital assets.