DeFi risk management giant Gauntlet raises $125 million from SBI Holdings

CoinFeed reported on July 9th, according to Fortune, that DeFi risk control and asset allocation platform Gauntlet raised $125 million exclusively from Japanese financial group SBI Holdings. This financing far exceeds its Series B round in 2022 of nearly $24 million with a valuation of about $1 billion. SBI, a Tokyo-listed financial group with a total market cap of over $10 billion, has invested in multiple crypto companies including Ripple, Circle, and Morpho. Gauntlet was founded by former Wall Street quantitative analyst Tarun Chitra, initially providing stress testing and risk analysis for DeFi protocols. In recent years, its business has shifted to 'vault curation', assessing the risks of various DeFi yield vault strategies. Its current clients include Apollo, Coinbase, and stablecoin issuer Circle.