Bitcoin
$37,005.81-1.18%
Ethereum
$2,010.63-2.01%
Binance Coin
$226.44-1.12%
XRP
$0.59796209-1.43%
Solana
$54.89-2.39%
Cardano
$0.37152112-3.58%
Dogecoin
$0.07722643-4.21%
Tron
$0.10232575-3.67%
Toncoin
$2.45+0.93%
Chainlink
$13.97-3.88%
Avalanche
$19.76-4.24%
Polygon
$0.73500355-2.62%
PlayIconNav
Crypto Prices CoinDesk Market Index CoinDesk Market Index
Finance

Ava Labs Set to Raise $350M at $5B Valuation: Report

The valuation would put the blockchain builder in the upper echelons of the crypto world by that measure.

By Jamie Crawley
AccessTimeIconApr 14, 2022 at 9:24 a.m. UTC
Updated May 11, 2023 at 4:05 p.m. UTC
Avalanche (Pixabay)

Avalanche (Pixabay)

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Ava Labs, builder of the Avalanche blockchain, is raising a funding round that would give it a $5.25 billion valuation, according to a Bloomberg report Thursday.

  • The Brooklyn, N.Y.-headquartered startup is raising $350 million, according to the report, which cited people familiar with the discussions.
  • A $5.25 billion valuation would place Ava Labs in the upper echelons of most valuable crypto startups in the world, though it would be still some ways behind the likes of Ethereum scaler Polygon, which is worth $20 billion as of its recent funding round, and USDC stablecoin backer Circle, which was valued at $9 billion in February.
  • Like several other blockchains, Avalanche is looking to draw projects and applications away from the Ethereum blockchain with the promise of high speeds and low transaction fees. Specifically, Avalanche offers "subnet" functionality, where application-specific blockchains can be spun up at scale.
  • Ava Labs didn't immediately respond to a request for comment.

Read more: Avalanche-Based Blockbuster Game Shrapnel Completes $7M Token Sale

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Jamie Crawley
Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.