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
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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.

Mysten Labs didn't responded immediately to a request for comment.


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Brandy Betz

Brandy covered crypto-related venture capital deals for CoinDesk.

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