Lava, a Bitcoin lending platform based in New York, has completed a $10 million Series A financing round led by Khosla Ventures and Founders Fund. This investment comes as Bitcoin's price surpasses $100,000. Lava offers a unique service allowing users to borrow dollars using Bitcoin as collateral, with a focus on 'self-custody' to minimize risks associated with platform failures like those of Genesis, BlockFi, and Celsius. The company emphasizes risk resistance by not issuing tokens and opting for pure equity financing. Founder Shehzan Maredia highlights the increased user preference for safer services following previous crypto industry collapses. Lava aims to expand its offerings by adding payment and Bitcoin purchase functions to attract more users.

LAVA

PANews reported on December 9 that according to Fortune, as the price of Bitcoin exceeded $100,000, Keith Rabois, managing director of Khosla Ventures, is betting on the field of Bitcoin lending and has invested in Lava, a Bitcoin lending platform headquartered in New York. Lava has completed a $10 million Series A financing round led by Khosla Ventures and Founders Fund, providing users with the service of borrowing dollars with Bitcoin as collateral, with the slogan "Save with Bitcoin, Spend with Dollars".
 Lava's core innovation is to allow users to "self-custody" assets and avoid platforms holding Bitcoin, so as to reduce the possibility of platforms such as Genesis, BlockFi and Celsius going bankrupt due to overlapping risks. In addition, Lava emphasizes risk resistance, does not issue tokens, and the Series A financing is pure equity financing. Founder Shehzan Maredia said that users are well aware of the risks of the last round of crypto industry collapse, so they are more inclined to choose safer services. Lava plans to expand its services and add payment and Bitcoin purchase functions to attract more users.

Lava Completes $10 Million Series A Financing Led by Khosla Ventures and Founders Fund