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TrueX, a Crypto Exchange Founded by Former Coinbase Executives, Completes $9 Million Seed Funding Round

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September 18, 2024
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TrueX, a New Crypto Exchange Based on Stablecoins, Raises $9 Million in Seed Funding

According to Fortune magazine, TrueX, a new crypto exchange founded by former Coinbase executives, has secured $9 million in seed funding. Investors include crypto investors like RRE Ventures and Hack VC, along with crypto companies such as Paxos, Solana Foundation, and Aptos.

Upon launch, TrueX will incentivize market makers and takers to participate through a liquidity program. TrueX will utilize PayPal's PYUSD as its default settlement currency and will launch trading functionality within the next two to four weeks. Initially, only institutional traders will have access to spot trading of leading assets.

TrueX is a subsidiary of True Markets, co-founded by Vishal Gupta, former head of Coinbase Exchange and USDC head at Circle, and Patrick McCreary, a former Coinbase engineer.

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