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Hemi Labs Raises $15M to Expand Bitcoin Programmability
Hemi Labs, the Bitcoin programmability network founded by Jeff Garzik, has raised $15 million in funding to accelerate development and expand its ecosystem. The round included YZi Labs (formerly Binance Labs), Republic Digital, HyperChain Capital, Breyer Capital, Big Brain Holdings, Crypto.com, and others, according to an emailed announcement on Tuesday.
The company said the funds will support applications for borrowing, lending, and trading on Bitcoin while further developing its Hemi Virtual Machine (hVM), a layer that embeds a Bitcoin node inside an Ethereum VM—a decentralized system that can execute smart contracts and process transactions.
“Bitcoin doesn’t need to be...