The WalletConnect Foundation has raised $10 million through a token sale

ChainCatcher news, according to The Block, the WalletConnect Foundation raised $10 million this month through the Bitget LaunchX platform, CoinList, Echo, and a private sale.

The foundation stated: "The strong demand for WalletConnect Token (WCT) highlights the growing need for seamless on-chain connectivity and a market-fit token centered around real fundamentals." The Bitget LaunchX community round raised $4 million within two hours, with approximately 40,000 investors committing over $170 million, far exceeding the allocation cap. Token distribution was completed on Friday.

The community round on CoinList was also four times oversubscribed, attracting 18,000 participants from over 100 countries. Investors pre-paid $15.5 million, far surpassing its $4 million target.

Meanwhile, a private sale conducted on the Echo platform, founded by crypto trader Jordan Fish (also known as Cobie), sold out its $500,000 target in just 11 seconds. This sale was led by a team called Tea Club.