Boba Network Lands $70M Windfall, Clears BOBA Token Overhang in FTX Recovery Trust Deal

Boba Network just pulled off a $70 million coup—and finally ditched its BOBA token baggage.

The Layer-2 scaling solution inked a deal with the FTX Recovery Trust, effectively neutralizing its token overhang. No more waiting for the other shoe to drop.

The $70M Lifeline

Fresh capital meets fresh start. The funding round—likely a mix of relief and opportunism—positions Boba to double down on Ethereum scaling while the rest of the market fights over meme coin residuals.

FTX Fallout Cleanup

By partnering with the FTX wreckage crew, Boba sidesteps a potential token dump disaster. Smart move—because nothing tanks a project faster than a fire sale from a bankrupt exchange’s carcass.

The Road Ahead

With liquidity secured and skeletons buried, Boba’s team can now focus on what actually matters: building. Or at least pretending to, until the next bull run washes away all sins.

One cynical footnote? In crypto, even disaster recovery deals get framed as 'strategic wins.' But hey—$70M buys a lot of rose-colored glasses.

The Boba Governance Foundation is pleased to announce a significant advancement in AI-integrated blockchain innovation, having secured a $70 million investment from Awaken Foundation and LDA Capital.

According to the team, this strategic funding will support the ongoing development and global expansion of Boba Network, a Layer-2 blockchain built to power decentralized applications (dApps) with advanced AI capabilities.

Alongside this funding announcement, Boba Governance Foundation has also reached a significant agreement with the FTX Recovery Trust regarding the previously held BOBA tokens. This MOVE clarifies a key area of uncertainty about the token’s future and strengthens the Foundation’s long-term dedication to ecosystem stability and growth.

Funding to Drive Infrastructure, Ecosystem Growth, and AI Integration

The $70 million commitment will be channeled into several strategic areas, including enhancing the network’s infrastructure for high-speed, secure transactions, expanding developer participation, and fostering the creation of next-generation AI-powered dApps.

Commenting on the funding, Alan Chiu, CEO of Enya Labs, a Core contributor to Boba Network, said:

“This funding will accelerate the development of the Boba Network ecosystem, attract top-tier talent, and drive the widespread adoption of Boba Network as a premier Layer-2 solution for AI-powered dApps. We are excited to collaborate with Boba Network partners to shape the future of the AI-powered, decentralized web.”

Backing from Strategic Visionaries

Awaken Foundation, a strong proponent of digital sovereignty and open-source infrastructure, expressed confidence in Boba Network’s distinctive potential. Its Director, Nattaphol Vimolchalao, remarked that Boba’s integration of smart contracts with off-chain AI computation represented a transformative shift in the industry, adding that the foundation was eager to support the expansion of decentralized AI across various sectors.

Similarly, LDA Capital, recognized for backing high-growth tech ventures and digital assets, identified Boba Network as a key contributor to the advancement of scalable decentralized computing. Warren Baker, the firm’s Managing Partner, stated that Boba was well-positioned to lead the next wave of intelligent blockchain applications and emphasized that their support WOULD help accelerate the project’s global growth and influence.

In addition to financial backing, LDA Capital highlighted the strategic value it offers through LDA Velocity—its institutional-grade liquidity and market-making platform, which plays a crucial role in supporting sustainable token ecosystems on international exchanges.

Agreement with FTX Recovery Trust

In a pivotal move, the Boba Governance Foundation announced that it had reached a formal agreement with the FTX Recovery Trust, under which all BOBA tokens previously held by the Trust were returned to the Foundation. As part of the settlement, the Trust was also granted the option to purchase up to approximately 29.4 million BOBA tokens at a fixed price of $0.09 per token within 18 months.

Commenting on the development, David Acutt described the agreement as a significant milestone for the project. He noted that resolving the uncertainty surrounding the BOBA tokens not only removed a major overhang on the network but also enhanced the Foundation’s ability to focus on long-term ecosystem growth.

Targeted Areas

• Infrastructure: Strengthen network throughput, reduce latency, and enhance security.
• Developer Ecosystem: Offer grants, tools, and education to attract builders and dApp projects.
• AI-Powered dApps: Prioritize the creation of decentralized applications using artificial intelligence, spanning sectors like DeFi and real-world asset tokenization.
• Community Engagement: Expand outreach, support, and collaboration opportunities for developers and users alike.

About the Key Stakeholders

Boba Governance Foundation is a non-profit organization dedicated to the long-term advancement of the Boba Network. Its mission centers on nurturing a thriving ecosystem by supporting developer initiatives, promoting community engagement, and encouraging adoption of Boba’s HybridCompute-powered Layer-2 blockchain technology.

Awaken Foundation is a private entity that backs high-potential blockchain protocols. Founded by a team of seasoned professionals in cryptocurrency, venture capital, and public markets, Awaken provides strategic funding and operational guidance to projects poised to shape the future of decentralized technologies.

LDA Capital is an international firm with a track record of more than $11 billion in completed transactions. Its involvement in the Web3 totals upwards of $400 million in capital commitments, reflecting its strong focus on innovative digital asset ventures.