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Crypto Security Firm Fireblocks receives funding Tenaya Capital and Fidelity

June 11, 2019 | Cryptocurrency

Investment heavyweights Eight Roads, Tenaya Capital, and Cyberstarts among others have participated in the $16 million Series A funding for Fireblocks, a platform for securing digital assets in transit. The additional capital shall enable the firm to court additional firms and build out its infrastructure.

Fireblocks has garnered the attention of various customers of renown such as Genesis Global Trading and Galaxy Digital. Fireblocks has found favor due to its prowess in safeguarding the transmission of their digital assets across exchanges, over the counter brokerages, cold storage, and even hot wallets.

Michael Shailov and Pavel Berengoltz, the founders of the firm, were spurred to action after a series of high-profile hacks. They endeavored to obliviate scams and digital asset hacks; spoofing, private key theft and compromised credentials.

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