Fun

Consensys Aims for $3 Billion Valuation in Upcoming Funding Round

News Feed - 2021-10-13 03:10:47

Consensys Aims for $3 Billion Valuation in Upcoming Funding Round


Consensys, the Ethereum-based software boutique, is aiming to get a valuation that could reach $3 billion dollars in its upcoming funding round. The company would be taking advantage of the bullish climate the industry is experiencing right now to achieve this important milestone. Also, Consensys is flexing its economic muscle by acquiring Treum, developer of Music NFT service EulerBeats. Consensys Aims for Billion+ Valuation in Next Funding Round


Consensys, one of the main software providers in the Ethereum ecosystem, is reportedly aiming to achieve a valuation that could reach $3 billion in its upcoming funding round, according to information published by FT. The company, led by Ethereum OG Joseph Lubin, would be aiming to leverage its position in the ecosystem and the brewing bull market to achieve the breakthrough goal.


Consensys provides several iconic software offerings in the Ethereum ecosystem, having developed Infura, a service that eases development and deployment of Ethereum-based apps. Metamask, a ubiquitous defi wallet that was also developed by the firm, is used by more than 10 million active users monthly. Down and Up Again


But Consensys has not always enjoyed the preference that investors are giving it today. The company has gone through rough times, having to cut part of its workforce just last year during a slump period. However, the rise of the decentralized finance sector and the interest in the future of Ethereum by various heavy-hitting institutional partners have made Consensys rise again as one of the most important software boutiques of the ecosystem.


The latest funding round the company conducted happened in April, when the company raised $65 million from several important companies such as JPMorgan, Mastercard, UBS AG, Protocol Labs, the Maker Foundation, Fenbushi, The LAO, and Alameda Research. At that time the company stated these funds would be used to “accelerate the convergence of decentralized finance (DeFi) and Web3 applications on Ethereum with enterprise blockchain infrastructure.”


However, Consensys is now flexing its economic muscle, as it announced today it has acquired and integrated Treum for an undisclosed amount. The acquisition of Treum, developers of Eulerbeats (an Ethereum-based project of algorithmically generated art and audio tracks), will give the company a new focus related to the NFT market that has boomed during this last year.


What do you think about Consensys’ latest funding round and its recent acquisition of Treum? Tell us in the comments section below. Bank of Spain Criticizes El Salvador"s Foray Into Bitcoin NEWS | 4 hours ago Binance Launches $1 Billion Fund to Boost Adoption of Its Smart Chain and Entire Blockchain Industry NEWS | 6 hours ago Tags in this story billions, ConsensYs, eulerbeats, funding round, treum, valuation


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

SWIFT Is Experimenting With Decentralized Technologies to Allow CBDC Interconnection
SWIFT Is Experimenting With Decentralized Technologies to Allow CBDC Interconnection SWIFT, the interbank payments protocol and messaging system, has announced it is working to con
XRP Price Could Suffer April Flash Crash, Analyst Shows How Low It Could Go
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin investment products see another record $2.9B inflow
Zhiyuan Sun4 hours agoBitcoin investment products see another record $2.9B inflowThe total assets managed by crypto exchange traded notes have eclipsed $100 billion.3276 Total views19 Total sharesListen to article 0:00Ne
Economist Peter Schiff Warns the US Dollar Will Crash — Says ‘We’re Going to Default’
Economist Peter Schiff Warns the US Dollar Will Crash — Says "We"re Going to Default" Economist Peter Schiff has warned that the U.S. dollar will crash. Noting that the U.S. is &
Greek Police Scramble to Catch Onecoin’s ‘Cryptoqueen’ Ruja Ignatova, Local Media Reports
Greek Police Scramble to Catch Onecoin’s ‘Cryptoqueen’ Ruja Ignatova, Local Media Reports Law enforcement in Greece has recently tried to locate Ruja Ignatova, founder of the
Crypto Mixing Tools Tornado.cash and Cashfusion Obscure More Than $8 Billion in Transactions
Crypto Mixing Tools Tornado.cash and Cashfusion Obscure More Than $8 Billion in Transactions While blockchain monitoring has increased a great deal during the last few years, crypt
IMF Declares Global Recession, 80 Countries Request Help, Trillions of Dollars Needed
IMF Declares Global Recession, 80 Countries Request Help, Trillions of Dollars Needed The International Monetary Fund (IMF) has declared that we have entered a global recession &
David Attlee14 hours agoSingapore Red Cross starts accepting crypto donationsHumanitarian aid and community services charity Red Cross Singapore included cryptocurrency as a newly accepted form of donation.2150 Total vie
CryptoQuant CEO Warns Not To Short XRP Due To Insider Whale Activity
Este artículo también está disponible en español. XRP has experienced an extraordinary surge in recent weeks, with its price skyrocketing by 380% over the past 23 days. I
Blockchain Game Launchpad Partners With Enjin for Accelerated Ecosystem Development
Blockchain Game Launchpad Partners With Enjin for Accelerated Ecosystem Development press release PRESS RELEASE. SINGAPORE— EnjinStarter, a launchpad for blockchain games, h
Wirex Launching in US After Receiving State Money Transmission License
Wirex Launching in US After Receiving State Money Transmission LicenseWirex has received its first money transmission license in the U.S., where the company is now gearing up to lau
Swiss Bank Seba Predicts Bitcoin Could Hit $75K This Year Boosted by Institutional Investors
Swiss Bank Seba Predicts Bitcoin Could Hit $75K This Year Boosted by Institutional Investors Regulated Swiss bank Seba has predicted that the price of bitcoin could reach $75K this