John Rising, a former manager at SpaceX, has successfully raised $4.2 million to fund Stackup, a promising new cryptocurrency platform. Announced today, June 21, 2025, the platform aims to enhance user safety by leveraging account abstraction—a technology that could be crucial in preventing on-chain disasters for businesses venturing into the crypto realm.
A New Dawn for Crypto Safety?
This latest funding round, backed by a consortium of venture capitalists, underscores Rising’s vision to prioritize security in the ever-evolving world of digital currencies. “Users need safety,” Rising emphasized, pointing to recent instances where security lapses led to substantial financial losses for users and companies alike. The innovative technology Stackup employs—account abstraction—abstracts the intricacies of blockchain operations, allowing businesses to operate without risking catastrophic failures.
Industry insiders are buzzing with speculation about the impact this could have on crypto adoption. According to blockchain analyst Jenna Lee, “Account abstraction simplifies complex operations, making blockchain technologies more accessible to traditional businesses. This could be a game-changer.” This follows a pattern of institutional adoption, which we detailed in our analysis of corporate treasury investments.
Why Does This Matter?
Well, here’s the thing: the crypto space is rife with cautionary tales of hacks and missteps. Just look at the collapse of major exchanges in years past, which left countless users reeling. Rising’s initiative with Stackup aims to build a safety net for businesses, mitigating the risks of operating in the blockchain space. This could, in turn, bolster confidence among potential adopters wary of previous mishaps.
By focusing on a user-friendly interface and robust security measures, Stackup seeks to bridge the gap between traditional business operations and blockchain technology. This endeavor seems poised to attract companies that have been sitting on the fence, hesitant to dive into the volatile waters of cryptocurrency. As explored in our coverage of public companies pivoting to crypto, this trend is becoming increasingly common.
A Look Back—and Forward
In the broader context, this move comes at a time when the market is seeking stability. The rollercoaster ride of Bitcoin’s price fluctuations, the rise and fall of altcoins, and regulatory uncertainties have kept many potential investors at bay. Stackup’s promise of a safer, more reliable platform could be just the ticket to usher in a new wave of institutional interest.
Yet, not everyone is convinced. Critics caution that while account abstraction is a step forward, it isn’t a panacea. “The technology is promising, but it won’t solve all security issues,” noted cybersecurity expert Alex Tran. “There’s still a need for comprehensive strategies to address other vulnerabilities.”
As Stackup begins its journey, the crypto community will be watching closely. Will Rising’s vision of a safer, more business-friendly crypto environment come to fruition? Or will unforeseen challenges derail this ambitious project? One thing’s for sure: the narrative surrounding crypto’s future is still being written, and Stackup might just be a pivotal chapter.
In the coming months, as Stackup rolls out its services, the industry will have a chance to assess its impact. Will it shift the balance of power in the crypto world? Could it pave the way for broader adoption by mainstream businesses? Only time will tell. For now, the excitement surrounding Stackup’s launch is palpable, with many hoping it will lead to a more secure and accessible blockchain ecosystem.
Source
This article is based on: ‘Users Need Safety’: Former SpaceX Manager Raises $4.2M for Crypto Platform Stackup
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
