ConsenSys Takes a Giant Leap
On Tuesday, the Ethereum powerhouse ConsenSys wrapped up a whopping $450 million in a Series D funding round, led by none other than ParaFi Capital. With a smug grin, they welcomed notable new investors including the likes of Temasek, SoftBank Vision Fund 2, and Microsoft into their labyrinth of blockchain dreams. Just to add some more icing on the cake, this deal more than doubles its valuation since their last fundraise in November 2021.
How Are They Going to Spend This Cash?
Now, what do you do with $450 million? Aside from considering an extravagant yacht party, ConsenSys has plans to convert some of these funds into Ether (ETH). This strategic move intends to rebalance the ratio of ETH to cash equivalents in their treasury. Not to be outdone by their competitors, the firm has its eyes set on the decentralized finance (DeFi) realm. By utilizing their own financial infrastructure, they aim to earn yields on various assets and venture into staking opportunities.
Metamorphosis of MetaMask
But wait, there’s more! A part of the newfound wealth will support the expansion of MetaMask, their flagship wallet that recently exceeded a jaw-dropping 30 million monthly active users. This redesign, coming later in 2022, plans a user-friendly makeover and a neat plug-in extensibility system to integrate diverse blockchain protocols. Hold on to your wallets, folks!
The Developer’s Holy Grail
It’s not just wallet users who are benefiting from this funding. Over 430,000 developers are making magic happen using the Ethereum development platform, Infura. Its Ethereum API now supports over $1 trillion in annual on-chain ETH transaction volume. That’s a lot of digital coins whizzing around!
Words from the Wise
Joseph Lubin, the founding wizard behind ConsenSys, shared some thoughts on their ambitious plans: “I think of ConsenSys as a broad and deep capabilities machine for the decentralized protocols ecosystem, able to rapidly capitalize at scale on fundamental new constructs that emerge.” Sounds fancy, right? This sentiment clearly struck a chord with their crypto-savvy investors, fueling a Series D funding that will skyrocket them further.
Join the Revolution!
As if that wasn’t enough excitement, ConsenSys is on the lookout for fresh talent. They plan to hire over 600 new employees globally over the next year. So if you fancy yourself as a blockchain aficionado, now’s your chance to jump on board!
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