Market

Consensys Seals $3 Billion Metamask Capital Takeover!

ConsenSys, a startup incubator focused on the Ethereum ecosystem based in New York, is raising capital to value the company at $ 3 billion Financial times.

CEO Joseph Lubin

ConsenSys announced in April that it had raised $ 65 million from JPMorgan, Mastercard, UBS and other investors.

This funding marks an important milestone for the 7-year-old company led by Ethereum co-founder Joseph Lubin, a pioneer in the field of blockchain technology. During the crypto winter, Lubin had to cut more than 30% of its workforce at least twice and restructure it last year to outsource its investment arm into a separate organization.

Venture capitalists who invested $ 20.7 billion in crypto startups this year are up more than 160% from the previous record in 2018, according to PitchBook data.

Lubin largely finances ConsenSys himself with his personal assets from ETH, a coin that he has created with Vitalik Buterin since 2015.

MetaMask, an application developed by ConsenSys, is an extremely popular wallet for DeFi programs. Since October 2020, MetaMask has generated a trading volume of over 9 billion US dollars via the swap function, according to data from Dune analysis.

MetaMask charges a 0.875% fee per transaction, representing over $ 78 million in revenue for the same period.

ConsenSys has predicted that MetaMask’s annual revenue could increase to $ 1 billion in the next year. Last month, the company announced that MetaMask has more than 10 million regular users per month.

Several other startups developing applications on Ethereum have recently received high ratings from venture capitalists.

Sky Mavis, the company behind Axie Infinity, recently announced that it had raised $ 152 million in capital under the direction of Andreessen Horowitz and valued the company at $ 3 billion.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Lu Tuc

According to the Finance Times

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

 

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

38 minutes ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

2 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

2 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

2 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

4 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

4 hours ago

This website uses cookies.