[Draper Associates Leads Xverse Funding Round, Betting on Self-Custody Bitcoin 'New Bank'] According to a report by The Defiant on October 6, Draper Associates, founded by Tim Draper, led the strategic funding round for Bitcoin wallet Xverse, with participation from Trust Machines and Draper Dragon. The terms were not disclosed, and Xverse did not reveal the funding amount or valuation. Xverse positions itself as a self-custody 'Bitcoin New Bank.' Since its launch in 2021, it has surpassed 2 million downloads, integrating Bitcoin vaults with on-chain Earn, Cash, and Borrow functionalities, allowing users to earn yields and borrow funds while retaining control of their private keys. CEO Ken Liao stated that holders should not have to choose between safeguarding their private keys and generating returns from Bitcoin.