ConsenSys, a company behind the Ethereum ecosystem, has raised $450 million in a Series D financing round led by ParaFi Capital. Other investors, such as Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, and others also participated in the funding. The company said in a blog announcement that the latest round brought its valuation to over $7 billion.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
ConsenSys says the proceeds will be converted to ETH to rebalance the ratio of ETH to USD-equivalents in line with its treasury strategy. Thus, the company wants to build "ultra sound money" position in advance of Ethereum's upcoming merge to Proof of Stake.
ConsenSys Founder and CEO, Joseph Lubin, says next funding round will be the company's "Series ETH" where it will assist investors in getting "fully crypto native to contribute ETH as a symbol of and commitment to the ongoing paradigm shift." The company notes that the funding will also support the rapid expansion of MetaMask and Infura.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.