Harvard grads raise $20 million for Ostium, a platform focused on a derivative popular with crypto traders. The Series A round was led by marquee venture outfit General Catalyst and the crypto arm of the quantitative trading firm Jump Trading, Kaledora Kiernan-Linn, cofounder and CEO, told Fortune.

"Other participants in fundraise included Coinbase Ventures as well as the crypto market making firms Wintermute and GSR. The round valued the startup at about $250 million, according to a source familiar with the matter, who asked for anonymity to discuss private business dealings. Ostium had previously raised a total of about $8 million."

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