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Fortune
Fortune
Jeff John Roberts

Coinbase Ventures joins $15M bet on new crypto exchange Mauve—a ‘response to the FTX fallout’

(Credit: Courtesy of Violet)

After offshore exchange FTX collapsed last year as a result of massive fraud, do we really need another crypto exchange? Markus Maier and Philipp Banhardt, founders of crypto compliance firm Violet, think that’s exactly what we need and have persuaded prominent investors to back their vision in the form of Mauve—a decentralized exchange they’ve described as the anti-FTX.

On Thursday, Violet announced that the likes of hedge fund Brevan Howard and Coinbase Ventures had invested $15 million in Mauve, which is slated to go live this summer.

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