• February 28, 2024

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Former Meta Employees Attract $200 Million for Their Own Blockchain Project

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A team of former Meta employees have raised $200 million to build a scalable blockchain for “billions” of people.

According to the announcement, the Aptos startup, which will take care of the project, has completed a funding round led by Andreessen Horowitz.

The funding round has also seen the participation of Multicoin Capital, Coinbase Ventures, IRONGREY, Hashed, Variant, Tiger Global, BlockTower, Katie Haun, Three Arrows Capital, ParaFi Capital, FTX Ventures and Paxos.

Aptos is based on open source technology for the Diem project and the Move programming language at its core. According to the project’s official blog:

“The ideas generated during the development of Diem are still relevant and will be an important foundation for a secure, scalable and updatable Web 3.0. We are rapidly developing the degree of decentralization and unlimited access, the code is open.”