Dark
Light
Today: December 12, 2024
March 12, 2024
1 min read

Monad Labs in talks for $200M round, valued at $3B


TLDR:

Monad Labs is in talks to raise over $200 million in a round led by Paradigm, valuing the startup at $3 billion. The raise would be the largest in the crypto industry this year.

Key points:

  • Paradigm is leading a round north of $200 million for Monad Labs, aiming to build a faster competitor to Ethereum.
  • The raise would value Monad Labs at $3 billion, following a previous $19 million seed round announced earlier.

Massive crypto raises are making a comeback, with investors showing interest in projects associated with Jump Crypto despite its regulatory issues and retreat from the industry. The total market capitalization of all cryptocurrencies is over $2.8 trillion, near all-time highs, indicating a potential influx of investor capital in the crypto space.

Article Summary:

Monad Labs is currently in discussions to raise more than $200 million in funding, led by Paradigm, at a valuation of $3 billion. The raise, which would be the largest in the crypto industry in 2024 so far, signals a resurgence in massive crypto raises. Paradigm, known for its investments in various crypto startups, has shown interest in leading this significant round for Monad Labs.

Despite the regulatory scrutiny that Jump Crypto has faced leading to its retreat from the industry, projects associated with it, like Pyth, Wormhole, and now Monad Labs, have been attracting substantial interest from investors. The total market capitalization of cryptocurrencies reaching over $2.8 trillion and nearing all-time highs is indicative of a potential surge in investor capital flowing into the crypto market.

The expected $3 billion valuation of Monad Labs reveals continued investor interest in the development of layer 1 and layer 2 protocols in the blockchain space. As the industry looks for faster and more reliable transaction speeds, projects like Monad Labs, with its aim to surpass Ethereum’s speed and compatibility, continue to attract attention from investors eager to capitalize on the burgeoning crypto market.


Previous Story

Serenity Kids secures $52m in Series B funding for growth

Next Story

New Boss in Town: Lily Lyman Takes Helm at Underscore VC

Latest from Blog

Go toTop