Coinbase Ventures and CMCC Global closed a strategic funding round with Raven, a trading firm, at a $90 million pre-money valuation. Founded in 2023, Raven provides liquidity in crypto trading but has expanded into prediction markets since the second quarter of 2025, according to cofounder, Petar Kostov. " Venues without enough trading volume often struggle to find a liquidity partner at all. Venues with a lot of trading volume often struggle to find enough liquidity to keep up," Kostov told CNBC. Coinbase Ventures and CMCC Global confirmed the funding round with CNBC. Coinbase Ventures is the investment arm of Crypto platform Coinbase , which introduced prediction markets in its trading app last December.
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