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Aptos Labs Raises $150M Led by FTX Ventures to Build a Revolutionary Layer 1 Blockchain

Tyler Irvin

Summary: Layer 1 blockchain Aptos Labs, raised $150 million in a Series A funding round led by FTX Ventures, the venture capital arm of crypto exchange FTX, and Jump Crypto, to build a blockchain to be the reliable foundation for web3, according to a blog post.  The funding round also included investments from Andreessen Horowitz, Multicoin ...

Layer 1 blockchain Aptos Labs, raised $150 million in a Series A funding round led by FTX Ventures, the venture capital arm of crypto exchange FTX, and Jump Crypto, to build a blockchain to be the reliable foundation for web3, according to a blog post

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The funding round also included investments from Andreessen Horowitz, Multicoin Capital, Circle Ventures and other crypto firms. 

The funding round will help build out their vision of creating a reliable fundamental blockchain for all web3 that allows mass adoption and users from around the world to experience the benefits of decentralization. Their blockchain technology will be predicated on scalability, safety and ease of use. 

“At Aptos, we are taking this as an opportunity to build the reliable foundation web3 has been waiting for,” the blog post said. “This team has spent years building and battle testing world-class technology that will dramatically elevate the usability and socialization of web3.”

Meta’s crypto arm, Diem, officially shutdown its stablecoin project in January amid ongoing regulatory scrutiny and uncertainty. In February, Aptos had a plan of bringing that blockchain back to life to be the foundational piece for web3. Now they have additional funds to back their project, which brings their yearly total $350 million in money raised. 

Author: Tyler Irvin

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Link: Aptos Labs Raises $150M Led by FTX Ventures to Build a Revolutionary Layer 1 Blockchain   [Copy]
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