Web3 Startup Mysten Labs Aiming for $2B Valuation in Latest Funding: Report

FTX Ventures is reportedly leading this round for Mysten, which was founded by former Meta (Facebook) executives.

AccessTimeIconJul 11, 2022 at 9:18 p.m. UTC
Updated May 11, 2023 at 5:36 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Mysten Labs is in talks to raise at least $200 million in Series B funding at a $2 billion valuation, according to The Information sources.

  • Investors – led by FTX Ventures – have committed at least $140 million for this round, according to the report.
  • Mysten Labs, which launched its decentralized blockchain Sui in March, was founded by veterans of Novi Research, the crypto research and development division of Meta (formerly Facebook). Among the co-founders is CEO Evan Cheng, who formerly served as head of research and development for Meta’s crypto wallet initiative.
  • In December 2021 Mysten raised $36 million in a Series A funding round led by Andreessen Horowitz.
  • Crypto in Washington: What Politicians Are Saying About Digital Assets
    01:33
    Crypto in Washington: What Politicians Are Saying About Digital Assets
  • Crypto Traders Grow Bearish as Aptos Plans $103M APT Token Unlock in November: Data
    01:13
    Crypto Traders Grow Bearish as Aptos Plans $103M APT Token Unlock in November: Data
  • Thailand Issues Warning Against Meta Over Fraudulent Crypto Ads
    05:12
    Thailand Issues Warning Against Meta Over Fraudulent Crypto Ads
  • Thailand Warns Facebook Parent Company Meta to Curb Crypto Scams
    02:21
    Thailand Warns Facebook Parent Company Meta to Curb Crypto Scams
  • Mysten Labs didn't responded immediately to a request for comment.

    Disclosure

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

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.


    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.



    Read more about