ConsenSys Valued at $3B? Next Fundraise May Make it So

New York-based startup previously raised $65 million as part of a “formation round” in April.

article-image

Ivo Näpflin for Lift conference, CC BY 2.0, via Wikimedia Commons

share

key takeaways

  • ConsenSys’s fundraise of $65 million in April included investments from financial services giants JP Morgan, Mastercard and UBS
  • MetaMask, a Consensys offering that functions as a cryptocurrency wallet for interacting with the Ethereum blockchain, had 10 million monthly active users, as of August 31

Ethereum software company ConsenSys is in the midst of a fundraise that would value the company at $3 billion, the Financial Times reported on Sunday. 

Founded in 2014 by Ethereum co-founder Joseph Lubin, ConsenSys’ full-stack products help developers build networks and enable enterprises to launch financial infrastructure. The startup’s offerings include MetaMask, Infura, Quorum, Truffle, Codefi and Diligence

The Financial Times cited “people briefed on the plans,” and did not mention which companies would be involved in the reported raise.

“We are not commenting further on the news that the [Financial Times] reported, but will be sure to keep in touch when we are ready to announce our fundraise,” a ConsenSys spokesperson told Blockworks. 

The reported pending fundraise comes after ConsenSys had closed a $65 million “formation round” in April to “accelerate the convergence of DeFi and Web3 applications on Ethereum with enterprise blockchain infrastructure,” according to a news release.

Investors at the time included JP Morgan, Mastercard, and UBS as well as Protocol Labs, the Maker Foundation, Fenbushi Capital, The LAO and Alameda Research.

“We are proud to partner with preeminent financial firms alongside leading crypto companies to further converge the centralized and decentralized financial domains at this particularly exciting time of growth for ConsenSys and the entire industry,” Lubin said in a statement at the time.

MetaMask on the March

ConsenSys announced on its blog at the end of August that MetaMask, its mobile app and browser extension that functions as a cryptocurrency wallet, had more than 10 million monthly active users — up about 1800% from the prior year. The growth correlates to the boom of the Ethereum ecosystem, which supports a decentralized finance (DeFi) ecosystem that has grown from $2 billion in assets in 2019 to more than $80 billion, according to the blog post.

MetaMask Institutional, developed last year for crypto funds, market makers, and trading desks seeking to increase exposure to DeFi, has recently partnered with custodians BitGo, Qredo and Cactus Custody.

The Financial Times report lands amid a backdrop of crypto companies gaining billion dollar valuations as venture capitalist money has poured into the space.

The parent company of blockchain-enabled video game Axie Infinity announced a $152 million Series B funding round last week, led by Andreessen Horowitz, which gave it a valuation of nearly $3 billion. Similarly, bitcoin infrastructure firm Blockstream revealed raising $210 million in a Series B funding round in August, which brought its valuation to $3.2 billion.

Gathering an even larger Series B funding round and valuation was crypto exchange FTX, which raised $900 million in July, valuing the company at $18 billion.

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates.png

Research

Maple Finance has successfully navigated significant market challenges through its strategic pivot to secured lending (Maple v2) and the launch of its Syrup product. Syrup has become a primary growth driver, delivering sustainable, outperforming stablecoin yields and rapidly increasing TVL. The upcoming custody-first Bitcoin staking product (istBTC) presents another significant avenue for expansion. Crucially, Maple has achieved operational profitability, a key inflection point that, combined with a fully vested token and active buyback mechanism, strengthens its investment case. While valuation metrics suggest potential undervaluation relative to peers and growth, the primary forward-looking risk identified is the long-term sustainability of its current high-take-rate collateral staking revenue model.

article-image

In 2014, Microsoft virus scanners were detecting viruses in Bitcoin software

article-image

Ledn’s Mauricio Di Bartolomeo explained how this cycle’s been different for the lender

article-image

The shorts looking for funding range from charming animated series to gritty live-action dramas

article-image

Money, it turns out, is emergent, like consciousness

article-image

Bridge flows churn in both directions as risk appetite returns

article-image

Even with an uncertain outlook thanks to tariffs, Big Tech executives are still ramping up their AI investments