Bitcoin Daily: Coin Metrics Notches $6M; Digital Dollar Project Unveils New Advisory Members

Cryptoasset data and infrastructure provider Coin Metrics has notched $6 million in funding, according to an announcement from the company.

The company said the raise would be used to grow its product offering, bolster its team and offer “enhanced coverage of digital assets,” the announcement stated. Highland Capital Partners led the funding round with participation from Coinbase Ventures, Castle Island Ventures and Communitas Capital, among others.

Aleksei Nokhrin and Nic Carter created Coin Metrics as an open source blockchain and data and analytics initiative in 2017. Tim Rice, who has had executive positions at firms such as Tradeweb, came on board as co-founding CEO in 2018 to power Coin Metrics’ commercialization.

In other news, the Digital Dollar Project unveiled its first advisory group members that include former regulators, business people, and educators, among others, according to an announcement from the organization.

The Digital Dollar Project seeks to “promote [the] establishment of a U.S. Central Bank Digital Currency,” the announcement stated. It is a partnership between the Digital Dollar Foundation and Accenture.

Chris Giancarlo, who heads the project and is a former chair of the Commodity Futures Trading Commission (CFTC) said, per the announcement, “The insights and expertise of the new advisory group members will be invaluable as we work together to help make the dollar a more effective and smarter currency in an increasingly digital global economy.”

The project will look into design choices and approaches via a “deliberative process.”

And, the European Commission is providing blockchain developers and other experts with grants for offerings that take civil technologies and use them for defense purposes, Cointelegraph reported.

The commission said it is seeking plans that are “based on real-time cloud and on-premise digital twin benefiting from blockchain technologies’ robustness, able to channel all currently optimized logistics needs, such as chain of spare parts, maintenance, energy consumables.”

Cointelegraph described a digital twin as a digital representation or copy of a tangible entity, process or asset. The commission had put forward a European Defense Industrial Development Program tender on March 24.