Babylon, a crypto startup, secures $70 million led by Paradigm to enable native Bitcoin staking on various blockchain networks like Ethereum and Solana. The company aims to integrate Bitcoin, traditionally a proof-of-work asset, into proof-of-stake systems. Led by founder David Tse, Babylon seeks to revolutionize Bitcoin’s utility, allowing users to earn yields by staking their BTC. Investors include Bullish Capital and Polychain Capital. This move challenges conventional blockchain paradigms.
