TRON has partnered with digital asset investment firm DWF Labs, per Bloomberg, with the firm “eager to further support the ecosystem with additional investment in the near future.”
Part of the tie-in will see DWF Labs become a liquidity provider to support the growth of the TRON blockchain ecosystem.
The managing partner of DWF Labs, Andrei Grachev, said he firmly believes TRON is spearheading web3 adoption and commended the platform’s “remarkable ability to attract new ideas.” He added:
“TRON stands as one of the fastest-growing dApps ecosystems in the space at the moment, and the consistent rollout of innovative tools and services proves that TRON has a leading role in paving the trail in blockchain.”
The investment firm said it hopes the partnership will advance the growth and development of the TRON ecosystem – providing better accessibility to the network for all.
Spurred by growing interest in AI technology, DWF Labs invested $10 million in CryptoGPT in April. Details of the strategic investment revealed a focus on expansion in Asia, with Hong Kong and its recent flip to pro-crypto emerging as a key target market.
TRON stated that it is fully committed to improving its network and developing innovative ideas with help from DWF Labs.
The price of TRON saw modest gains on the DWF Labs news, up 1.1% on the day to $0.07263 as of press time. The move comes off the back of three consecutive daily green closes.
Currently, the broader market remains uncertain following recent regulatory enforcement actions by the U.S. Securities Exchange Commission – which filed against Binance and Coinbase, alleging securities law violations, including, in both cases, operating an unregistered exchange.
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Source: https://cryptoslate.com/tron-brings-in-investment-firm-dwf-labs-to-add-liquidity-to-ecosystem/