IntoTheBlock and Trident Merge to Form Sentora, Securing $25M Funding
Mergers and acquisitions in the crypto sector continue with Trident and IntoTheBlock announcing their merger to form Sentora. Key details include:
- IntoTheBlock specializes in financial services for institutional DeFi investors.
- Trident Digital provides services such as lending and advisory.
- The merger aims to address institutional needs in DeFi, focusing on funds and treasuries.
- Anthony DeMartino, former head of risk strategies at Coinbase, will lead Sentora.
- IntoTheBlock's CEO, Jesús Rodríguez, will serve as CTO.
- They raised $25 million in a Series A funding round, led by New Form Capital.
- Ripple is noted as a strategic investor in this ecosystem.
The merger reflects a broader trend of consolidation among crypto firms aiming to streamline services for institutional clients. M&A activity is expected to rise, despite not reaching 2021 levels immediately.