Function completes $10 million seed round financing, led by Galaxy Digital

Odaily Planet Daily News: Crypto infrastructure company Function announced the completion of a $10 million seed round financing, led by Galaxy Digital with participation from Antalpha and Mantle. Function (formerly known as Ignition) is committed to introducing institutional level returns to Bitcoin, with its flagship product FBTC being a fully reserve, composable representation of Bitcoin. Currently, the total locked up volume (TVL) has reached $1.5 billion. Function states that FBTC can serve as an efficient gateway for institutions and enterprise treasuries to deploy Bitcoin, while maintaining full custody control and 1:1 asset support. Galaxy will serve as an investor and core contributor, providing support for FBTC in liquidity, governance, and risk framework design. Function CEO Thomas Chen stated, "By 2026, treating Bitcoin solely as a passive asset will no longer be sufficient, and the new standard will be to actively earn profits." (Coindesk)