Andre Cronje's latest venture, Flying Tulip, has successfully raised $200 million in a private seed round, achieving a valuation of $10 billion. Key investors include Brevan Howard Digital, CoinFund, and DWF Labs. The capital will be directed towards developing a comprehensive on-chain exchange platform that encompasses spot trading, derivatives, lending, stablecoins, and insurance. Flying Tulip also plans a public token sale aiming to raise up to $800 million at the same valuation. The project intends to leverage the raised funds as a 'cash cow,' generating yield to support operations and facilitate token buybacks, rather than depleting the principal amount.