Arch Labs recently announced a $13 million raise aimed at launching a bitcoin virtual machine, with the Series A round led by Pantera Capital. CEO Matt Mudano highlighted the need for increased on-chain activity in Bitcoin, which has recently experienced significant growth and institutional acceptance. The funding will be allocated towards scaling the engineering team, expanding the ecosystem, and increasing developer adoption. Arch Labs is focused on building infrastructure in preparation for their mainnet launch, and they are implementing grants and developer tools to foster a vibrant ecosystem for Bitcoin's programmable economy. Additionally, the team is working on launching a native token, essential for network security and utility, though specific details are currently undisclosed. Mudano emphasized the importance of timing and strategy in the evolving market.

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