source : cryptopotato.com
Consensys – a blockchain technology company – announced that it has recently raised hundreds of millions of dollars from businesses, including HSBC and Third Point. HSBC is Europe’s largest bank, while Third Point is a US-based hedge fund with $17 billion in assets under management.
Major Funding For Consensys
Consensys announced the results of their latest funding round in a blog post on Wednesday. The latest close brings the company’s valuation to $3.2 billion, including new investors and partners like Marshall Wace, Spartan Group, Coinbase Ventures, HSBC, and Third Point.
Consensys is dedicated to building infrastructure around the Ethereum network, creating better access to what they call “Web 3” – the world of decentralized, internet native organizations. One of their most popular products includes the MetaMask wallet, which has skyrocketed in popularity and now boasts 21 million monthly active users.
Daniel S. Loeb – CEO and Founder of Third Point LLC – said he sees potential in the developing Web 3 ecosystem:
“ConsenSys’ MetaMask wallet and other tools offer a unique platform for consumers, enterprises, and developers to engage, build, and create on the decentralized web. We are pleased to partner with ConsenSys to help unlock the unlimited potential of Web 3.0.”
Meanwhile, Marshall Wace CEO Amit Rajpal has also shown faith, stating that he believes in the exponential growth potential of Defi and NFTs. Alongside decentralized finance, Consensys is working on driving NFT adoption for content creators, game publishers, and artists.
HSBC’s contribution to blockchain development is especially intriguing. The bank asserted that it had no plans to offer a cryptocurrency trading desk to its customers earlier this year and has even banned accounts sending funds to crypto exchanges in the past. Others like Goldman Sachs, however, are already trading Bitcoin derivative products.
Funding The Crypto Industry
An unprecedented amount of capital has flown into the crypto-centric institutions this year, besides Consensys. For example, FTX – one of the most popular exchanges – recently raised a massive and meme-worthy $420.69 million and is now valued at $25 billion.
Billionaire investor Orlando Bravo’s investment firm was a contributor to FTX and said he will be investing in other blockchain tech companies.
Featured Image Courtesy of Yahoo