BIG NEWS at Function | FBTC
We are excited to announce Galaxy has joined our $10M seed round as an investor and core contributor, alongside Mantle, and
Antalpha Global.
With over $1.5B in TVL, $FBTC is the institutional gateway for productive and functional Bitcoin.
The era of Bitcoin yield is here.
Learn more : https://financewire.com/2025/07/15/function-ushers-in-the-era-of-bitcoin-yield-with-galaxy-digital-as-investor-in-10m-seed-round/
We are excited to announce Galaxy has joined our $10M seed round as an investor and core contributor, alongside Mantle, and
Antalpha Global.
With over $1.5B in TVL, $FBTC is the institutional gateway for productive and functional Bitcoin.
The era of Bitcoin yield is here.
Learn more : https://financewire.com/2025/07/15/function-ushers-in-the-era-of-bitcoin-yield-with-galaxy-digital-as-investor-in-10m-seed-round/
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The Function team is getting ready for #TOKEN2049 Singapore πΈπ¬
We look forward to discussing how Function is enabling new opportunities for $BTC at the leading APAC Web3 event!
See you at TOKEN2049!
We look forward to discussing how Function is enabling new opportunities for $BTC at the leading APAC Web3 event!
See you at TOKEN2049!
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Function has a new look! π
We have launched a new website, a new logo, and the next chapter of our points program.
Our brand refresh marks Functionβs evolution, as weβre scaling, expanding, but continuing to focus on the same mission.
β¨ Sparks Points is officially transitioning into a new points program under the Function brand.
βοΈHere is what it means for you:
- 1 Spark = 1 new point (no value lost)
- Sparks season is closing
- A new dashboard is coming soon
- More info to follow
This is just the beginning; we are building the foundation for new launches, integrations, and more ways to make $BTC work.
Thank you to our community & partners for your continued support. We are excited for what is ahead!
Discover our new look π https://www.fxn.xyz/
We have launched a new website, a new logo, and the next chapter of our points program.
Our brand refresh marks Functionβs evolution, as weβre scaling, expanding, but continuing to focus on the same mission.
β¨ Sparks Points is officially transitioning into a new points program under the Function brand.
βοΈHere is what it means for you:
- 1 Spark = 1 new point (no value lost)
- Sparks season is closing
- A new dashboard is coming soon
- More info to follow
This is just the beginning; we are building the foundation for new launches, integrations, and more ways to make $BTC work.
Thank you to our community & partners for your continued support. We are excited for what is ahead!
Discover our new look π https://www.fxn.xyz/
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It was a pleasure to join World Liberty Financial, Blockchain for Good Alliance, mETH Protocol, UR Mantle, and Bybit on stage at the Mantle Mixer this week during Token2049.
Bo Zhang, Head of Institutional Strategy at Function shared our vision going forward:
βFunction is transforming Bitcoin into a liquid, composable, and productive reserve asset for DeFi. But Bitcoin is just the first step.
We aim to create a network of functional assets, and in doing so, combine the different levers of Mantle, mETH, Bybit, and UR Bank into a single cohesive strategy.
The success of FBTC is the blueprint. Moving forward, weβre building the network of functional assets that will serve as the cornerstone for onchain finance.β
Bo Zhang, Head of Institutional Strategy at Function shared our vision going forward:
βFunction is transforming Bitcoin into a liquid, composable, and productive reserve asset for DeFi. But Bitcoin is just the first step.
We aim to create a network of functional assets, and in doing so, combine the different levers of Mantle, mETH, Bybit, and UR Bank into a single cohesive strategy.
The success of FBTC is the blueprint. Moving forward, weβre building the network of functional assets that will serve as the cornerstone for onchain finance.β
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$FBTC βs growth is powered by a network of partners driving liquidity, composability, and onchain utility.
From protocols and dApps to infrastructure leaders, each integration expands whatβs possible with $FBTC across ecosystems, contributing to the growth of BTCFi.
Together, we make $BTC functional.
From protocols and dApps to infrastructure leaders, each integration expands whatβs possible with $FBTC across ecosystems, contributing to the growth of BTCFi.
Together, we make $BTC functional.
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The past few days at DAS London have been incredibly productive for the Function team.
Function's CEO Thomas Chen joined the stage at Digital Asset Summit 2025, and we were honoured to co-host an exclusive dinner with Bybit.
Our biggest takeaways from the week:
1. HUGE demand for $BTC yield
Margins are tightening across the industry and projects are pivoting to include onchain earn products.
2. Simplicity > high APYs
Institutions prefer simple, transparent, and onchain yield over black-box strategies with unsustainable returns.
3. RWAs: demand > supply
Everyone is focused on tokenizing real-world assets, but the real question is: where does the demand come from?
4. BTC-on-BTC yield > altcoin yield
A familiar theme, but the appetite for $BTC yield continues to dominate.
Function's CEO Thomas Chen joined the stage at Digital Asset Summit 2025, and we were honoured to co-host an exclusive dinner with Bybit.
Our biggest takeaways from the week:
1. HUGE demand for $BTC yield
Margins are tightening across the industry and projects are pivoting to include onchain earn products.
2. Simplicity > high APYs
Institutions prefer simple, transparent, and onchain yield over black-box strategies with unsustainable returns.
3. RWAs: demand > supply
Everyone is focused on tokenizing real-world assets, but the real question is: where does the demand come from?
4. BTC-on-BTC yield > altcoin yield
A familiar theme, but the appetite for $BTC yield continues to dominate.
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FBTC is now live on Plume!
Function has partnered with Plume to bring $BTC liquidity to Plume's network and expand RWA access to Bitcoin holders.
What is Plumeβ
Plume is a public, EVM-compatible blockchain focused on the next evolution of RWAs.
Why does this integration matterβ
- Institutional users can collateralize BTC to access liquidity across Plumeβs RWAfi ecosystem.
- FBTC becomes the standardized asset for Bitcoin on Plume.
- Transforms the worldβs largest idle asset into a functional asset.
Together, Function and Plume are redefining what Bitcoin can do. π€
Function has partnered with Plume to bring $BTC liquidity to Plume's network and expand RWA access to Bitcoin holders.
What is Plumeβ
Plume is a public, EVM-compatible blockchain focused on the next evolution of RWAs.
Why does this integration matterβ
- Institutional users can collateralize BTC to access liquidity across Plumeβs RWAfi ecosystem.
- FBTC becomes the standardized asset for Bitcoin on Plume.
- Transforms the worldβs largest idle asset into a functional asset.
Together, Function and Plume are redefining what Bitcoin can do. π€
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Join us this Thursday at 11 AM ET for a panel on "Trust, Transparency, and the Next Phase of DeFi".
Weβll discuss how verifiable reserves, strong risk controls, and transparency build the trust needed for institutional-grade DeFi.
Featuring:
Moderator: Tim Chen, Venture Partner at Mirana Ventures
Jake, MD, Head of Ecosystem at BitGo
Luffy He, CEO at CIAN
Thomas Chen, CEO at Function
Matthew Graham, CEO at TokenLogic
ποΈ Oct. 23, 11AM ET
π Function π - https://x.com/FunctionBTC
Weβll discuss how verifiable reserves, strong risk controls, and transparency build the trust needed for institutional-grade DeFi.
Featuring:
Moderator: Tim Chen, Venture Partner at Mirana Ventures
Jake, MD, Head of Ecosystem at BitGo
Luffy He, CEO at CIAN
Thomas Chen, CEO at Function
Matthew Graham, CEO at TokenLogic
ποΈ Oct. 23, 11AM ET
π Function π - https://x.com/FunctionBTC
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Transparency is a direct synonym for trust.
Each $BTC that backs $FBTC is visible onchain.
Visit our website to see for yourself: https://fxn.xyz/proof_of_assets
Each $BTC that backs $FBTC is visible onchain.
Visit our website to see for yourself: https://fxn.xyz/proof_of_assets
To ensure decentralization, Function established a Security Council; a group of independent and trusted institutions including Antalpha, Mantle, and Cobo.
The Council acts as the governance and oversight layer for $FBTC by:
- Safeguarding Functionβs smart contracts
- Approving key upgrades and improvements
- Overseeing custody of $BTC to ensure $FBTC remains 1:1 backed
- Maintaining the decentralized integrity of the system
The Council acts as the governance and oversight layer for $FBTC by:
- Safeguarding Functionβs smart contracts
- Approving key upgrades and improvements
- Overseeing custody of $BTC to ensure $FBTC remains 1:1 backed
- Maintaining the decentralized integrity of the system
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Weβre proud to announce Bo Zhang has joined Function as our Chief Operating Officer.
Bo has over a decade of experience across traditional finance and blockchain. Within crypto, Bo was Head of Treasury and Trading at Odos and Head of Investments at Fyde. Before entering the blockchain space, Bo was a portfolio manager in JPMβs Chief Investment Office, where he helped manage $600B in global equities and fixed income.
This is an important step in Function's growth as Bo's leadership will help drive investment strategy expansion and new strategic initiatives.
Bo has over a decade of experience across traditional finance and blockchain. Within crypto, Bo was Head of Treasury and Trading at Odos and Head of Investments at Fyde. Before entering the blockchain space, Bo was a portfolio manager in JPMβs Chief Investment Office, where he helped manage $600B in global equities and fixed income.
This is an important step in Function's growth as Bo's leadership will help drive investment strategy expansion and new strategic initiatives.
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Function has partnered with Sentora to build new pathways for institutional BTC holders to access DeFi yield opportunities.
Institutions can now choose from a range of different strategies to put their BTC to work, enabling users to earn an estimated APY of approximately 2.5% β 7% on BTC.
With this partnership, Function continues to advance our mission of transforming Bitcoin from a passive store of value to a functional, productive asset.
Visit https://www.fxn.xyz/ to learn more.
Institutions can now choose from a range of different strategies to put their BTC to work, enabling users to earn an estimated APY of approximately 2.5% β 7% on BTC.
With this partnership, Function continues to advance our mission of transforming Bitcoin from a passive store of value to a functional, productive asset.
Visit https://www.fxn.xyz/ to learn more.
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What do you think will happen with DATs this quarter?
Function's CEO Thomas Chen, shared his thoughts on the current state of $BTC accumulation and how DAT strategies might be changing.
Function's CEO Thomas Chen, shared his thoughts on the current state of $BTC accumulation and how DAT strategies might be changing.
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