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Squads Labs, a developer of Solana's ecosystem multi-signature management tool, has completed a $5.7 million strategic financing round with Placeholder VC leading the investment.

BlockBeats news, on October 17th, according to The Block, Squads Labs, the main developer of Solana's multi-signature management tool Squads, completed a strategic financing of $5.7 million, with Placeholder VC leading the investment and participation from Multicoin Capital, Solana Ventures, Jump Crypto, Solana Labs co-founder Anatoly Yakovenko, Jito Labs CEO Lucas Bruder, and Helius Labs CEO Mert Mumtaz. Squads Labs co-founder Stepan Simkin told The Block that this was a round of financing with token subscription rights, and he declined to comment on the valuation.

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