Cycles
Summary active Updated May 23, 2026This profile is AI-generated. If you spot an error, please help us fix it by sharing a URL to the correct information.
Founders
About
Cycles is a crypto infrastructure startup founded by Cosmos co-founder Ethan Buchman, building an open, privacy-preserving clearing network for crypto markets and stablecoin payments 12. The system uses zero-knowledge proofs, secure execution environments, and multilateral clearing to enable net settlement without revealing counterparty positions 12. The funding will accelerate development of the Cycles clearing network and scaling of its first institutional product, Cycles Prime, which enables trading firms to net OTC obligations privately across the network — reducing liquidity requirements and counterparty exposure without collateral or asset movement; Cycles Prime is launching with Lynq and FalconX as anchor partners 123. The round brings total funding to $8.7M including a $2.3M pre-seed in 2025 23.
Funding History
| Date | Round | Amount | Lead | Co-investors |
|---|---|---|---|---|
| 2026-05-21 | Seed | $6.4M | Blockchange Ventures | Coinbase Ventures, Compound VC, Primitive Ventures 123 |
| 2025-05 | Pre-Seed | $2.3M | CMCC Global, Maven 11 | — 4 |
What Investors Say
No independently sourced investor quotes found at this time.
What Founders Say
No independently sourced founder quotes found at this time.
Sources
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PR Newswire, “Cycles Raises $6.4M to Build the Open Clearing Network for On-Chain Finance,” May 21, 2026. Accessed May 2026. https://www.prnewswire.com/in/news-releases/cycles-raises-6-4m-to-build-the-open-clearing-network-for-on-chain-finance-302778594.html↩↩↩↩
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Crypto Briefing, “Cosmos co-founder’s Cycles raises $6.4 million backed by Blockchange Ventures, Coinbase Ventures,” May 2026. Accessed May 2026. https://cryptobriefing.com/cycles-raises-funding-backed-blockchange-ventures-coinbase/↩↩↩↩↩
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Crypto.news, “Cycles raises $6.4M to build private crypto clearing network,” May 2026. Accessed May 2026. https://crypto.news/cycles-raises-6-4m-to-build-private-crypto-clearing-network/↩↩↩
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Cryptonews, “Cosmos Co-Founder Ethan Buchman’s Cycles Launches Clearing App, Raises Pre-Seed Round,” May 2025. Accessed May 2026. https://cryptonews.com/news/cosmos-co-founder-ethan-buchmans-cycles-raises-pre-seed-round-launches-clearing-app/ — Cycles raised a $2.3M pre-seed in May 2025 co-led by CMCC Global and Maven 11. ↩