ConsenSys Valuation Hits $7B as Company Raises $450M
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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.

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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.

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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.

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