HongShan leads a $5 million seed round for the cryptocurrency derivatives platform MYX.

Moreover, Consensys, Hack VC, OKX Ventures, Redpoint China, Hashkey Capital, and Foresight Ventures invested in MYX, which was established earlier this year

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At a $50 million valuation, the Asia-based cryptocurrency derivatives system MYX raised $5 million in a seed round.

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Investors participated in the investment round headed by HongShan, formerly known as Sequoia China

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Established earlier this year by Mark Zhang, a former Huobi cryptocurrency exchange head of futures products.

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This strategy "empowers LPs to focus on adeptly managing and mitigating risks, rather than being tied to specific long or short positions or relying on traders' losses for gains."

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