Daily Deal Round Up: December 7, 2022

Reverse merger

Circle, the US-based blockchain payment platform backed by corporates FTX, Baidu, Bitmain, CreditEase and Wanxiang, has terminated a reverse merger agreement with New York-listed special purpose acquisition company Concord Acquisition Corp. The deal was first announced in July 2021, potentially valuing the merged entity at $4.5bn, before Circle managed to double its valuation seven months later.

M&A

Cryptocurrency group Animoca Brands has acquired a majority stake in US-based portfolio company Pixelynx, the operator of a music-focused metaverse gaming platform, for an undisclosed amount. Animoca led a $4.5m seed round for Pixelynx in December 2021, investing with Solana Ventures, a subsidiary of crypto app developer Solana, as well as quantitative trading firm Alameda Research, Alumni Ventures’ Blockchain Fund, Hyperedge Capital, Republic Realm, SevenX and Sfermion.

Funding

Company	Company description	Sector	Country	Round	Round size($m)	Deal date	Investors
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