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.


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


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.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2023

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research Report Cover Vertex.jpg


The proliferation of new perp DEXs has led to fragmented liquidity across various DEXs and chains. Vertex, known for its vertically-integrated DEX that includes spot, perpetual, and integrated money markets, is now tackling cross-chain liquidity fragmentation through horizontal integration with the launch of new Edge instances. Vertex's integrated offerings and cross-margined account structure amplify the benefits of new instances: native cross-chain spot trading, optimized cross-chain basis trading, consistent interest rates, reduced bridging friction, and more.


Also, tokenization continues to grab headlines and one bitcoin miner stock soars Tuesday after inking a big deal


Fifteen million daily failed transactions disappeared from Solana


FTX debtors will pay the IRS $200M, with an outstanding lower priority claim of $685M


I’ve come to the realization that more attention is needed to create and sculpt the digital spaces where we live


The NYSE went down yesterday after a glitch caused a string of erroneous trades. Does DeFi fix this?


Partnering with EtherFi and Angle, the fully on-chain perp DEX features bespoke collateral