ConsenSys Valuation Jumps to $7 Billion, After Microsoft-Backed $450 Million Funding Round

Leading crypto developer, ConsenSys, has announced the completion of its Series D funding round, where it realized $450 million.

Leading crypto developer ConsenSys has announced the completion of its Series D funding round, through which it realized $450 million. 

ConsenSys disclosed that the funds would be converted to ETH “to further build Consensys’ ‘ultra-sound money’ position as a rebalance to its ETH to fiat ratio in line with ConsenSys treasury strategy.”

Microsoft Bets on ConsenSys

According to ConsenSys, the funding round was led by ‘ParaFi Capital‘. The round also saw the existing investors, ‘Third Point’, ‘Marshall Wace’, ‘True Capital Management’, and ‘UTA VC‘, place bets on ConsenSys.

Sponsored

New participants to the project were ‘Microsoft‘, Japan’s ‘SoftBank‘, and Singapore’s ‘Temasek’. The investment marks a rare crypto-related bet from Microsoft. In addition, Microsoft has shown interest in Web 3.0, a sector which investors believe ConsenSys will power.

ConsenSys Hits $7 Billion Valuation

Alongside the announcement of its latest funding round, ConsenSys revealed that the company is now valued at $7 billion – more than double its November 2021 valuation. 

In November 2021, we reported that ConsenSys was valued at $3.2 billion after it concluded a $200 million Series C funding round led by Third Point.

Sponsored

In other news, the Athletic reported that ConsenSys had won the ‘Premier League‘ non-fungible token (NFT) deal.

On the Flipside

  • The funding round was marred by allegations that Joseph Lubin, ConsenSys’ founder, illegally shifted assets from ConsenSys Mesh into CSI as part of the transaction.

Why You Should Care

Microsoft’s investment in ConsenSys highlights the growing interest from the world’s leading tech firms in Web 3.0 technology.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia