🟧 From HODL to High Yield: Function and FBTC Want to Put Your Bitcoin to Work

Backed by Galaxy Digital, Function launches FBTC — a 1.5B omnichain Bitcoin asset turning idle BTC into institutional-grade yield.

Crypto's most boring asset is getting a glow-up.

🏛️ Bitcoin’s Reputation? Solid. Its Utility? Underperforming.

Despite being the OG of crypto, Bitcoin hasn’t exactly aged like fine wine in the DeFi world. It's secure, decentralized, and everyone has heard of it—but it mostly just sits there, gathering dust in cold wallets or corporate treasuries.

Enter Function — formerly known as Ignition — with a mission to rewrite that narrative. Backed by Galaxy Digital, Antalpha, and Mantle, they’ve launched FBTC, a fully reserved Bitcoin-backed asset that already has 1.5 billion TVL and a roadmap to make BTC productive across chains.

💸 Yield, But Make It Institutional

Function’s core play? Take Bitcoin off the bench and put it in the financial game.

FBTC isn't just another wrapper. It’s designed for omnichain composability, sustainable yield, and institutional trust — think Ethereum, Mantle, Aave, Babylon, and beyond. It moves across chains like a ninja and earns like a hedge fund. All while being backed 1:1 with real BTC.

“We’re not just wrapping Bitcoin,” said Function CEO Thomas Chen. “We’re building the rails that route it into capital flows.”

In plain English? This is about making Bitcoin as useful and flexible as USDC — but without surrendering its base-layer security.

🧠 Galaxy Digital Sees the Future (And It Yields)

Led by Mike Novogratz, Galaxy Digital isn’t just throwing money around. They're joining Function as co-architects of the FBTC ecosystem.

That means:

• Liquidity Rails: Think deep, institutional order books for BTC yield.
• Protocol Governance: Galaxy will help set the rules of the road.
• Security Council: Real-time risk controls, layered audits, and war-room-level ops.

“Function represents the next evolution in Bitcoin’s journey toward becoming a productive financial asset,” said Galaxy’s Jason Urban.

🧱 FBTC Isn’t a Token — It’s Infrastructure

• Compliant? Yes.
• Omnichain? Ethereum, Mantle, Arbitrum… and more coming.
• Yield? Designed for real, risk-managed returns — no wild west vibes here.
• Backed? 1:1 with Bitcoin. No funny business.

Over 25 major dApps are already integrating with FBTC. And with corporate treasuries from MicroStrategy to MetaPlanet eyeing yield-bearing Bitcoin, the timing is spicy.

🔮 Bitcoin’s Next Era: Sovereign, Productive, Global

Function’s big bet is simple: in a world of ETFs and staking wars, the real alpha will come from turning Bitcoin into a yield-generating treasury asset — without compromising on decentralization.

It’s not just “number go up” anymore. It’s “make your BTC work for you.”

TL;DR

• Function (ex-Ignition) just raised 10M from Galaxy, Mantle, and Antalpha.
• Their flagship asset FBTC already has 1.5B TVL and runs across multiple chains.
• Designed for institutions, FBTC turns Bitcoin into a yield-bearing machine — with real security, composability, and liquidity.
• This marks a new chapter in crypto: Bitcoin as infrastructure, not just a belief system.