Welcome DT News

  • CONTACT
  • ABOUT US
Deythere
  • Home
  • News
    Ethereum vs Solana in 2025: Curve Founder Reveals Which Chain Could Power Wall Street
    NewsCryptoEthereum

    Ethereum vs Solana in 2025: Curve Founder Reveals Which Chain Could Power Wall Street

    According to a detailed analysis published by Curve Finance founder Michael Egorov,…

    By
    Shravani Dhumal
    July 14, 2025
    XRP Rallies Ahead of SEC Vote as Ripple's Legal Saga Nears Final Act
    NewsCryptoMarket
    XRP Rallies Ahead of SEC Vote as Ripple’s Legal Saga Nears Final Act
    July 14, 2025
    $25M NFT Scandal Crumbles as Court Clears Dolce and Gabbana USA
    CryptoNewsNFT
    $25M NFT Scandal Crumbles as Court Clears Dolce and Gabbana USA
    July 14, 2025
    image 193
    NewsCryptoMarketSponsored Article
    Missed Dogecoin? One Cat Meme Coin Is Making Noise With Big Bags and Bigger Claws
    July 14, 2025
    image 209
    NewsCryptoMarketSponsored Article
    The Bull Breaks In: Limited Spots Available in MoonBull Whitelist, While Snek and Shiba Inu Steady the Course
    July 14, 2025
  • Cryptocurrency
    Ethereum vs Solana in 2025: Curve Founder Reveals Which Chain Could Power Wall Street
    Ethereum vs Solana in 2025: Curve Founder Reveals Which Chain Could Power Wall Street
    8 Min Read
    XRP Rallies Ahead of SEC Vote as Ripple's Legal Saga Nears Final Act
    XRP Rallies Ahead of SEC Vote as Ripple’s Legal Saga Nears Final Act
    6 Min Read
    $25M NFT Scandal Crumbles as Court Clears Dolce and Gabbana USA
    $25M NFT Scandal Crumbles as Court Clears Dolce and Gabbana USA
    7 Min Read
    image 193
    Missed Dogecoin? One Cat Meme Coin Is Making Noise With Big Bags and Bigger Claws
    10 Min Read
    image 209
    The Bull Breaks In: Limited Spots Available in MoonBull Whitelist, While Snek and Shiba Inu Steady the Course
    9 Min Read
    Bitcoin Hits $122K ATH: How Ledn CEO Predicts $136K by Year-End
    Bitcoin Hits $122K ATH: How Ledn CEO Predicts $136K by Year-End
    7 Min Read
    Previous Next
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Reading: Fabric Cryptography Secures $33M Funding to Boost Privacy Solutions
Share

[ccpw id=”7831″]

DeythereDeythere
Font ResizerAa
  • Home
  • Crypto
  • Market
  • News
  • Blockchain
  • Contact
Search
  • Home
  • News
  • Cryptocurrency
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Have an existing account? Sign In
Follow US
© DT News. All Rights Reserved.
Deythere > News > News > Fabric Cryptography Secures $33M Funding to Boost Privacy Solutions
News

Fabric Cryptography Secures $33M Funding to Boost Privacy Solutions

Fabric Cryptography Secures $33M Funding to Boost Privacy Solutions
Fabric Cryptography Secures $33M Funding to Boost Privacy Solutions
Kılıçarslan Cemil
Last updated: August 20, 2024 8:16 pm
By
Kılıçarslan Cemil
Published August 21, 2024
5 Min Read
Share

Silicon Valley startup Fabric Cryptography, in its aim to revolutionize digital privacy, has announced the procurement of $33 million in funding. This latest financing round was co-led by Blockchain Capital and 1kx, with additional backing from prominent players such as Polygon, Offchain Labs, and Matter Labs.

Fabric Cryptography, known for its innovative approach to enhancing privacy across the digital landscape, revealed that this Series A funding will fuel the development of their next-generation cryptographic technology. The company’s ambitious goal is to promote widespread adoption of privacy guarantees, leveraging cutting-edge advancements in encryption and authentication.

Fabric Cryptography Secures $33M Funding to Boost Privacy Solutions

Central to Fabric’s strategy is their Verifiable Processing Unit (VPU), an AI-powered chip designed to elevate cryptography to new heights. Drawing parallels to Nvidia’s role in the AI industry, Fabric’s VPU aims to be the equivalent in the world of cryptography. The startup believes that this chip could transform how privacy and data security are managed, introducing what they term ‘mathematical trust’ into the equation.

“There exists a whole world of advanced cryptographic algorithms that go beyond protecting our data, and can actually begin to guarantee trust, if we can run them efficiently,” said Michael Gao, co-founder of Fabric Cryptography. “Billions of dollars have been poured into better AI chips of all kinds, but researchers and industry projects in cryptography have had to settle with CPUs or GPUs, which were never made for the kind of intensive math that advanced cryptography uses.”

Gao, alongside his co-founder Tina Ju, both dropouts from MIT and Stanford, have been at the forefront of pushing the boundaries of cryptography. Their vision is to develop technology that not only protects data but also ensures it can be trusted, which is becoming increasingly important in a world where data breaches and privacy concerns are rampant.

The $33 million raised in this round builds on a previous $6 million seed round, bringing Fabric’s total funding to $39 million. The earlier seed round was led by Metaplanet, marking the startup’s journey from a promising idea to a major player in the cryptography space.

Fabric plans to use the new funds not only to accelerate the production of the VPU but also to scale up their software and cryptography teams. Additionally, they intend to expand their cloud infrastructure, which is crucial for the development and deployment of their advanced cryptographic solutions.

When will VPU Begin Production?

Fabric Cryptography Secures $33M Funding to Boost Privacy Solutions

The VPU is expected to go into production later this year. Once launched, it is set to outperform traditional CPUs, GPUs, and fixed-function cryptography accelerators, offering greater speed and efficiency. The chip is designed to support and enhance existing cryptographic algorithms that provide strong privacy guarantees, such as zero-knowledge proofs, fully-homomorphic encryption, and multi-party computation. These are the very technologies that underpin privacy-focused cryptocurrencies like Zcash, which aim to offer users greater control over their data.

However, the rapid advancement in cryptographic technology is not without its challenges. Some experts express concern that the rise of surveillance hardware could potentially undermine the progress made by cryptocurrencies and other technologies in protecting user privacy. The balance between innovation and privacy will be a key issue to watch as Fabric Cryptography and others in the field continue to push forward.

In conclusion, Fabric Cryptography’s successful funding round marks an important moment in the ongoing evolution of digital privacy. With the backing of major investors and the introduction of their groundbreaking VPU, Fabric is set to make significant strides in the cryptography landscape. 

For more news and updates on the cryptocurrency industry, stay tuned to DeyThere.



Advertising

For advertising inquiries, please email . [email protected] or Telegram

Texas Leads U.S. Crypto Race with Public Fund Investment Bill

FLOKI Taps Out—MoonBull’s Whitelist Just Entered the Arena of Best Upcoming Cryptos 2025

Ripple and SEC Seek Settlement Pause — Is XRP Finally Breaking Free?

Arctic Pablo Coin Presale Reaches Penguinopolis at $0.000067 Price, While Dogecoin Saw a 5% Surge and $TRUMP Shows Uptick in Trading Volume

US Election Brings Pro-Crypto Shift to Congress, Sparks a Golden Future

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
ByKılıçarslan Cemil
Cemil Kılıçarslan is a blockchain and cryptocurrency expert with 8 years of experience in the field. Starting his career in traditional finance, Cemil shifted his focus to blockchain after realizing its potential to disrupt existing financial systems. He has been involved in numerous international projects, ranging from the development of blockchain-based payment systems to consulting on cryptocurrency regulations. Cemil is particularly known for his expertise in blockchain scalability and security. At DT NEWS, he delivers thorough analyses and thought-provoking commentary on the global crypto market, helping readers navigate the complexities of blockchain technology and its applications.
Previous Article Cardano Drops Out of Top 10 Cryptocurrencies by Market Capitalization Cardano Drops Out of Top 10 Cryptocurrencies by Market Capitalization
Next Article Bitcoin Whale Reportedly Loses $238M in Hack as ZachXBT Reveals Details Bitcoin Whale Reportedly Loses $238M in Hack as ZachXBT Reveals Details
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
FacebookLike
XFollow
YoutubeSubscribe
TelegramFollow
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad image
Popular News
crypto 2024
Crypto Derivatives Market Heats Up as Innovative Products Emerge
crypto approval
Blockchain Revolutionizes Energy Markets with Decentralized Trading Platforms
crypto news
Cutting-Edge Mining Technologies Drive Efficiency in Cryptocurrency Production

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Deythere

DT News influence 20 million users and is the number one business blockchain and crypto news network on the planet.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Menu

  • Home
  • News
  • Sitemap
© DT News. All Rights Reserved.
Banner 1
Banner 2
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

  • English