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May 26, 2024
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Venture Capital Boost: Blockchain Firms Secure $258m in One Week

TLDR: During the week of May 19 to May 25, blockchain startups collectively raised over $258 million, spearheaded by decentralized social protocol Farcaster’s $150 million series A round. The funding rounds included Series A, seed, strategic, private, and public sale rounds, with notable contributions from venture firms such as Paradigm, Haun Ventures, a16z crypto, and others. The key elements from the article are:

  • Farcaster raised $150 million in a Series A round, reaching a valuation of $1 billion
  • Plume Network secured $10 million for its L2 blockchain project
  • Blockless raised $8 million for decentralized physical infrastructure expansion
  • Pencils Protocol and IVX also secured seed funding
  • Cysic and RunesFi raised funds for zero-knowledge hardware acceleration and Bitcoin infrastructure respectively

During this active week in the blockchain industry, multiple startups saw significant funding rounds to support their innovative projects and further developments in the cryptocurrency space.

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