San Francisco-based blockchain developer Movement Labs is raising $100 million in a new funding round, highlighting growing interest in crypto startups.
Overview of the Startup and Funding Round
Movement Labs, an integrated blockchain network and layer 2 on Ethereum, is valued at $3 billion. The funding round is led by CoinFund with Brevan Howard's participation. Investors are receiving both equity stakes and MOVE tokens.
Factors Driving Capital Attraction
Interest in Movement Labs is driven by reduced regulatory pressure, a pro-crypto environment in the US, and positive market sentiment. Macro factors like interest rate cuts also encourage venture capital firms to invest in blockchain innovation.
Future Plans and Initiatives of Movement Labs
The new capital will be used to expand product offerings, increase presence in the Asia-Pacific region, and attract new talent. The company previously raised $38 million in 2024 to integrate Facebook's Move language into the Ethereum ecosystem.
The new funding allows Movement Labs to continue developing innovative solutions to enhance security and performance in blockchain technology.
