On July 9, Cointelegraph reported that DeFi asset management protocol Velvet Capital announced the completion of a $3.70 million funding round with participation from YZi Labs, Blockchain Founders Fund, FunFair Ventures, Selini Capital, Mucker Capital, PAKA, LucidBlue, Mindfulness Capital, SkyVision Capital, Gate Labs, Poolz Ventures, NexGen, Cointelegraph Accelerator, Gains Associates, Rarestone, Echo, DWF Ventures, and others. It is reported that this funding will provide frictionless portfolio management and trading for funds, DAOs, and individual traders, while promoting its governance and utility tokens. [BlockBeats]