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ConsenSys In Discussion About $250 Million Funding Round

Blockchain software firm ConsenSys is currently in talks about a funding round that would bring its valuation to $3 billion, reported the three people familiar with the discussions.

One of the aforementioned people stated that the company is considering raising $250 million. GoldenTree Asset Management and possibly Arca are said to participate in the round. However, GoldenTree declined to comment and Arca did not respond to an email that was received before office hours.

The latest funding effort coincides with the significant growth that the Ethereum space is experiencing as the use of NFT (non-fungible token) continues to regain traction.

Back in April, ConsenSys raised $65 million from major investors like JPMorgan Chase, Mastercard and UBS, as well as leading DeFi companies. Within that same month, the active user count at ConsenSys’ Ethereum wallet MetaMask reached 5 million. The company reported that the use of MetaMask increased by fivefold in six months.

ConsenSys underwent a significant restructuring on February 2020, which ended up splitting its software and investment arms into separate companies — a venture company and a developer for cryptocurrency products — and cutting down its staff by 14%.

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