{"id":66900,"date":"2022-09-09T10:52:00","date_gmt":"2022-09-09T07:52:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66900"},"modified":"2025-09-07T03:46:08","modified_gmt":"2025-09-07T00:46:08","slug":"former-meta-employees-startup-mysten-labs-raises-300m-from-ftx-ventures-and-other-investors","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/former-meta-employees-startup-mysten-labs-raises-300m-from-ftx-ventures-and-other-investors\/","title":{"rendered":"Former Meta employees&#8217; startup Mysten Labs raises $300m from FTX Ventures and other investors"},"content":{"rendered":"<p>Founded by a team of former Meta employees, Mysten Labs closed a Series B funding round of $300 million at a valuation of $2 billion. The funds will be used to build foundational infrastructure and accelerate the adoption of the Sui blockchain.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udce2: Today, we\u2019re excited to announce our $300M Series B funding round. This milestone signals the technical strength &#038; immense potential of our Sui ecosystem. <a href=\"https:\/\/twitter.com\/hashtag\/Suinami?src=hash&#038;ref_src=twsrc%5Etfw\">#Suinami<\/a>\ud83c\udf0a 1\/\ud83e\uddf5 <a href=\"https:\/\/t.co\/wQ8WH1egyY\">pic.twitter.com\/wQ8WH1egyY<\/a><\/p>\n<p>\u2014 Sui by Mysten Labs (@Mysten_Labs) <a href=\"https:\/\/twitter.com\/Mysten_Labs\/status\/1567871062041321472?ref_src=twsrc%5Etfw\">September 8, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The firm aims to grow its team and push expansion in the Asia-Pacific region.<\/p>\n<p>The round was led by FTX Ventures. Coinbase Ventures, Jump Crypto, Andreessen Horowitz, Circle Ventures, Binance Labs, O\u2019Leary Ventures and others also participated.<\/p>\n<p>Investors will receive equity stakes as well as warrants on their own tokens.<\/p>\n<p>Sui will be based on the <a href=\"https:\/\/u1f987.com\/en\/news\/proof-of-stake-how-it-works-and-why-it-is-so-popular\">Proof-of-Stake<\/a> consensus algorithm and will use transaction parallelization to achieve high throughput, low latency, and low fees.<\/p>\n<p>The project also aims to address challenges in customer acquisition, developer engagement and expanding the range of use cases.<\/p>\n<p>In a conversation with <a href=\"https:\/\/cointelegraph.com\/news\/former-meta-execs-raise-300m-to-accelerate-adoption-of-sui-blockchain\"> Cointelegraph<\/a>, co-founder and CEO Mysten Labs Evan Cheng said that the current <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-web3\">Web3<\/a> infrastructure is reminiscent of the modem era \u2014 \u201cslow, costly, limited, not secure and simply hard to build.\u201d<\/p>\n<p>In 2018, Cheng moved from leading Facebook&#8217;s engineering division to the role of director of blockchain engineering.<\/p>\n<p>Joining Mysten Labs&#8217; co-founders were former engineers Sam Blakshir and George Danesis, as well as Novi project&#8217;s head of product Adeni Abiodun.<\/p>\n<p>In December 2021, the startup <a href=\"https:\/\/u1f987.com\/en\/news\/blockchain-startup-from-former-meta-staff-raises-36-million-from-andreessen-horowitz\">raised $36 million<\/a>.<\/p>\n<p>Earlier, Aptos, the team behind the &#8216;scalable blockchain for billions of people&#8217;, closed a Series A round of $150 million.<\/p>\n<p>The founders previously worked on the <a href=\"https:\/\/u1f987.com\/en\/news\/libra-association-renamed-to-diem-association\">Diem<\/a> project (formerly Libra) from Facebook.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Founded by a team of former Meta employees, Mysten Labs closed a Series B funding round of $300 million at a valuation of $2 billion. The funds will be used to build foundational infrastructure and accelerate the adoption of the Sui blockchain.<\/p>\n","protected":false},"author":1,"featured_media":66901,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[25,1651,1133],"class_list":["post-66900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain","tag-sui-sui","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=66900"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66900\/revisions"}],"predecessor-version":[{"id":66902,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66900\/revisions\/66902"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/66901"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=66900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=66900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=66900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}