SOL - Monad Labs Raises $225M In Funding Led By Crypto VC Paradigm | Benzinga
Monad Labs has raised $225 million for the development of its Layer-1 blockchain in a funding round led by Paradigm.
What Happened: The round included participation from Electric Capital and Greenoaks, as reported by Fortune Crypto. This marks the largest crypto fundraiser of 2024 thus far. The raised capital will be used to build a Layer-1 blockchain that aims to challenge the existing frameworks of platforms like like Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL).
Monad Labs’ founder Keone Hon mentioned the company aims to achieve faster transaction speeds, higher volume, and ...