Ex-Meta Employees Raise $200M for New Blockchain
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Aptos Labs, a company of Meta's former employees that worked on Diem, has raised $200 million in a round led by a16z with participation from Multicoin Capital, Katie Haun, Coinbase Ventures, and others.

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The developers say their layer 1 blockchain dubbed Aptos is designed to serve billions of other people and the latest funding will help it to support development groups that will work on projects inside the ecosystem. As part of the move toward adoption, Aptos Labs also launched Aptos' devnet with the codebase open for public view.

Silvergate Capital Acquires Cryptocurrency Project Diem

Aptos Labs plans to roll our an incentivized testnet in Q2 to help scale the network and stress test it as it marches toward mainnet launch which is scheduled for Q3, 2022.

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