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Velocity
Sep 15, 2026

Velocity raises $10 million in Series A extension with backing from Visa Ventures and others

Velocity has closed a $10 million Series A extension round, according to Odaily. Investors in the round include Visa Ventures, Circle Ventures, Haun Ventures, Ripple, Translink Capital, and Mirana Ventures. The company provides backend infrastructure for payment firms and banks, focused on stablecoin-based settlement, liquidity management, and treasury operations. Velocity says its system can be deployed without requiring customers to replace their existing infrastructure. The update frames the company as building financial plumbing for institutions looking to add stablecoin capabilities while keeping current systems in place.

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Velocity raises $10 million in Series A extension with backing from Visa Ventures and others
Velocity
Sep 15, 2026

Velocity extends Series A to $48M, reaches $200M valuation

Velocity, a London-based payments infrastructure firm, has extended its Series A financing round to $48 million, according to CEO Eric Queathem. The new investment values the company at $200 million. Queathem said the round was backed by Visa, Circle, and Ripple. The update adds to the company’s funding profile and highlights support from major payments and crypto industry names. No additional details on the financing structure were disclosed in the provided report.

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Velocity extends Series A to $48M, reaches $200M valuation
Velocity
Jul 28, 2026

Velocity says private test remains live as audits continue before public launch and DFX claims

Velocity, the decentralized perpetuals trading platform formerly known as Drift Protocol, said its private test version is still running as the team continues audits and risk-hardening work ahead of a wider release. The project said it is testing the product with market makers, professional trading firms and retail traders, while also refining the trading experience and preparing liquidity for launch. According to the update, the public launch and DFX claims will only open after security and risk-related work is completed. The statement ties the rollout timeline directly to the completion of those internal checks. Foresight News noted that after Drift Protocol suffered a large-scale hack on April 1, the team created a compensation mechanism for affected users. DFX is described as a recovery token issued specifically to impacted wallets, with 1 DFX representing $1 in verified losses.

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Velocity says private test remains live as audits continue before public launch and DFX claims
Reflect
Jul 2, 2026

Reflect Launches Independent Voluntary Recovery Plan for USDC+ Holders Affected by Drift Hack, Offering 0.20 USDC + 80 RC per Unit

稳定币协议 Reflect 宣布为受 Drift（现 Velocity）4 月黑客事件影响的 USDC+ 仓位持有者启动独立自愿恢复计划，开放 180 天窗口。持有者可选择以每单位 0.20 USDC + 80 Reflect Credit (RC) 的价格出售给 Palindrome Engineering，完全链上结算。参与即放弃对 Drift 的追索权，换取即时流动性；不参与仍可支持 Drift 的 DFX 恢复通道。该计划由 Palindrome 预先拨付资金，不依赖于 Drift 恢复进程。

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Reflect Launches Independent Voluntary Recovery Plan for USDC+ Holders Affected by Drift Hack, Offering 0.20 USDC + 80 RC per Unit
a16z
Jul 2, 2026

a16z-Backed Reflect Launches Independent Voluntary Recovery Plan for Drift Hack Victims

Reflect, a stablecoin protocol backed by a16z, has announced an independent voluntary recovery plan for USDC+ position holders affected by the April hack on Drift (now Velocity). The plan offers a 180-day window for users to sell their positions to Palindrome Engineering at 0.2 USDC + 80 Reflect Credit (RC) per unit, fully settled on-chain. Participants receive immediate liquidity but forfeit recourse against Drift. The plan operates independently of Drift's official DFX recovery channel, giving users an alternative choice.

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a16z-Backed Reflect Launches Independent Voluntary Recovery Plan for Drift Hack Victims
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