ConsenSys Raises $450 Million in a Series D Funding Round

ConsenSys, a blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology solutions provider, announced on Tuesday that it had closed a $450 million financing round, bringing its valuation to over $7 billion. According to the press release, ParaFi Capital led the funding raise.

New investors joined them, including Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures and C Ventures. The United Talent Agency’s venture fund, UTA VC and Third Point also participated in this round of funding. In this transaction, Sullivan & Cromwell LLP acted as ConsenSys’ legal advisor.

“I think of ConsenSys as a broad and deep capabilities machine for the decentralized protocols ecosystem, able to rapidly capitalize at scale on fundamental new constructs that emerge, such as developer tooling, tokenization, token launches, wallets, security audits, DeFi (1.0, 2.0 and beyond), NFTs, bridges, Layer-2 scaling, DAOs and more. This view has resonated with our crypto native and growth investors in a Series D that will enable us to execute powerful growth strategies,” Joseph Lubin, the Founder and CEO of ConsenSys, commented.

According to ConsenSys’ treasury strategy, the proceeds from this round will be converted to ETH in order to rebalance the ratio of ETH to USD equivalents. They added to ConsenSys’ 'ultra sound money' position in advance of Ethereum’s merger to Proof of Stake.

A significant amount of Ethereum, stablecoins, and other crypto assets have been accumulated by ConsenSys over the years, which is actively investing them in DeFi protocols and via staking Staking Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Read this Term using its own financial infrastructures, such as MetaMask Institutional and Codefi Staking.

MyCrypto Acquisition

Recently, ConsenSys announced the acquisition of MyCrypto, a market-leading Web3 wallet. Following the acquisition, ConsenSys will combine MyCrypto with its popular MetaMask wallet.

MetaMask and MyCrypto will integrate their efforts under a shared brand to enhance the security of all their products and build a cohesive user experience across browser, extension, mobile and desktop wallets.