Function Secures $10M Seed Funding from Galaxy to Pioneer Bitcoin’s First Fully Reserved, Composable Yield Product

Wall Street's latest crypto darling just got a $10 million vote of confidence—and Bitcoin maximalists are salivating.

Function, a stealth-mode crypto startup, just closed its seed round led by Mike Novogratz's Galaxy Digital. The target? Launching what they claim will be Bitcoin's first fully reserved, composable yield product—because apparently 17 years wasn't enough time to figure this out.

The Pitch: DeFi for Bitcoin Purists

No risky algorithmic stablecoins here. Function promises yield through what they call 'reserved composability'—basically ensuring every satoshi is accounted for while still allowing interoperability with other protocols. It's the financial equivalent of having your cake and HODLing it too.

Why Galaxy Bit

Novogratz's fund doesn't throw $10M at just any crypto project. Insiders suggest Galaxy sees this as the missing link to bring institutional capital into Bitcoin DeFi—without triggering their compliance departments' PTSD from Terra/LUNA flashbacks.

The Fine Print

Function's whitepaper drops Q3 2025. Until then, the crypto world gets to speculate whether this is genuinely innovative or just another yield product dressed in Bitcoin's ideological armor. Either way—the bags are packed for the 'number go up' brigade.