Crypto Startup Mysten Labs Raises $300M From Industry Heavyweights at $2B Valuation: Report

Binance Labs, Coinbase Ventures, Circle Ventures, Lightspeed Venture Partners and the crypto wing of Andreessen Horowitz were among the participants.

The size of the fundraise demonstrates that appetite for investment in crypto and blockchain projects has not been greatly diminished despite the crash in the crypto market in recent months. Talks of the, when sources for The Information said that investors had committed $140 million. Mysten Labs will use the funding to build out its Sui blockchain and expand into Asia-Pacific, CEO Evan Cheng said, according to the report.

The startup was founded by veterans of Novi Research, the crypto research division of Facebook parent company Meta . Cheng was head of research and development for Meta's crypto wallet initiative.led by a16z last December, did not immediately respond to CoinDesk's request for comment.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crypto Investment-Product Firm 21Shares' Parent Raises $25M, Pushing Valuation to $2BThe parent of Swiss ETP issuer 21Shares raised $25 million to reach a valuation of $2 billion, mikeybellusci reports. 21Shares mikeybellusci 🚀 Thnks a millon 21Shares mikeybellusci No risk no fun 😅👌
Source: CoinDesk - 🏆 291. / 63 Read more »

Crypto investment product firm 21.co raises $25M to reach $2B valuationCrypto investment firm 21 .co announces it has become “Switzerland’s largest crypto unicorn”, after reaching a $2B valuation. 🚀 Thnks a millon.
Source: Cointelegraph - 🏆 562. / 51 Read more »

21Shares parent company raises $25 million at $2 billion valuation21.co, the parent company of 21Shares, has raised $25 million at $2 billion valuation, making it 'Switzerland's largest crypto unicorn.' 👀 Why is everybodyy silent about this
Source: TheBlock__ - 🏆 464. / 53 Read more »