according to Cointelegraph, Velvet Capital announced the completion of a $3.7 million financing round to launch its intent-driven DeFAI trading and investment portfolio management ecosystem. This round of financing was led by YZi Labs and Blockchain Founders Fund, with participation from FunFair Ventures, Selini Capital, Cointelegraph Accelerator, and many other institutions.

Earlier news, Binance Wallet launched Velvet (VELVET) TGE on July 10th.