Movement Labs: $100 Million Investment Achieved

user avatar

by Giorgi Kostiuk

2 years ago

Movement Labs, the company behind the layer 2 network on Ethereum named Movement, is close to completing a $100 million Series B funding round, Fortune reported.

Movement Labs' New Funding Round

After this latest funding round, the company's valuation is expected to reach approximately $3 billion. This round was led by CoinFund and Nova Fund, the digital assets arm of the Brevan Howard hedge fund.

Investors and Their Stakes

Sources indicate that the investing companies will receive both company shares and MOVE tokens in return for their funds. The focus of the participants in the round is primarily on the MOVE token rather than the shares.

MOVE Token and Its Current Status

Following the Series A round in April 2024, where Movement Labs raised $38 million led by Polychain Capital, the MOVE token, alongside Bitcoin, has undergone a significant decline. MOVE, which fell 11.4% in the last 24 hours, saw a slight increase with the investment news, but this increase was not sustained. At present, MOVE is trading at $0.92.

The investment highlights the interest in the MOVE token and the potential of Movement Labs' platform. However, market volatility continues to impact the token's price.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Defillama Releases New Report on Industry Metrics

chest

A new report has been released by Defillama, focusing on key metrics in the industry. This report aims to provide insights into the current trends and developments.

user avatarRajesh Kumar

Farside Enforces a Rigid Editorial Policy.

chest

Farside has announced a strict editorial policy focusing on accuracy, relevance, and impartiality to enhance reporting quality and build audience trust.

user avatarLucas Weissmann

New SEC Report Published.

chest

A report has been released based on information provided by the SEC, aimed at informing the public and increasing transparency regarding its activities.

user avatarFilippo Romano

Gal Gadot Embraces AI in New Bitcoin Thriller

chest

Gal Gadot stars in the AI-produced Bitcoin thriller 'Bitcoin Killing Satoshi', acknowledging the need to adapt to new technologies in film.

user avatarEmily Carter

Sorare Faces Legal Challenges Over Gambling Allegations

chest

Sorare is facing legal challenges from the Gambling Commission regarding its operations and the classification of its fantasy soccer game.

user avatarKaterina Papadopoulou

NCA Freezes £136 Million Linked to Premier League's Sponsorship Deal

chest

The UK's National Crime Agency has frozen over £136 million in a bank account belonging to the Premier League amid an investigation into a crypto sponsorship deal.

user avatarTomas Novak

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.