[Cycles Raises $6.4 Million to Develop Multilateral Clearing Protocol and Launch Stablecoin Cycles Pay] According to The Block, Cycles, a multilateral clearing startup founded by Cosmos co-founder Ethan Buchman, has completed a new $6.4 million funding round led by Blockchange Ventures, with participation from Coinbase Ventures, Compound VC, Primitive Ventures, and others, bringing its total funding to $8.7 million. Cycles aims to build an open clearing protocol that leverages zero-knowledge proofs (ZK), trusted execution environments (TEE), and graph algorithms to clear more transactions among multiple parties with less capital.