Microsoft invests in Ethereum co-founder’s blockchain company

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Microsoft Corp., Temasek Holdings Pte and SoftBank Group Corp. invested in Ethereum co-founder Joseph Lubin’s blockchain-technology company ConsenSys Inc. at a $7 billion valuation, more than twice what it was valued at in November.

ConsenSys raised $450 million from the three giants and existing backers including Dan Loeb’s Third Point in a Series D funding round, according to an emailed statement Tuesday.

Raising the money was “relatively easy,” Lubin, ConsenSys’s founder and chief executive officer, said in an interview. ConsenSys will use the proceeds to buy Ether for its treasury, which holds the second-largest cryptocurrency along with stablecoins and other digital tokens.

 

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