Decrypt Spins Out From ConsenSys Mesh, Raises $10M at $50M Valuation

Crypto news site Decrypt has spun out from its parent company ConsenSys Mesh and raised $10 million in funding at a $50 million valuation, Decrypt announced Tuesday.

The funds were raised from 22 investors, including venture capital firms Hack.VC, Hashkey Capital and Canvas Ventures, as well as decentralized autonomous organizations (DAOs) Global Coin Research DAO and Own.fund.
With the investment, Decrypt plans to build out its Web 3 studio Decrypt Studios, which brands non-fungible tokens (NFTs) and metaverse activations in fashion, entertainment and real estate. Decrypt will also invest in its decentralized newswire PubDAO.
Decrypt was founded in 2018 within blockchain incubator program ConsenSys Mesh. Decrypt CEO and co-founder Josh Quittner praised ConsenSys Mesh and its founder Joe Lubin for the long-term support.
"I’m thrilled about today’s announcement," Quittner told CoinDesk. "I’m especially grateful to Joe Lubin; we launched into the crypto winter and his support never wavered. The man has nerves of steel."

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Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

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