Cryptocurrency financial infrastructure firm Cycles has successfully raised $6.4 million in a seed funding round led by Blockchange Ventures. Notable participants in the round include Coinbase Ventures, Compound VC, and Primitive Ventures. This latest funding brings Cycles' total capital raised to $8.7 million. Cycles plans to utilize the funds to develop a private clearing network for the cryptocurrency market. The network will leverage zero-knowledge proofs and trusted execution environments to facilitate multi-party net settlement. This approach aims to enhance capital efficiency, reduce counterparty risk, and minimize liquidity lock-up in crypto transactions.