Synthetix Raises $12M in Funding

Synthetix, a decentralized trading platform, raised $12m in funding.

Backers included Coinbase Ventures, Paradigm and IOSG.

The company intends to use the funds to expand its business reach and recruit talent.

Run by a decentralized automatic organization, Synthetix provides a platform on which users can create (using a synth token called SNX) and trade synthetic assets and commodities.