PANews reported on June 5 that according to The Block, Fhenix, an Ethereum Layer 2 network focusing on data confidentiality, raised $15 million in Series A financing and launched an open testnet. Hack VC led the round, with participation from Dao5, Amber Group, Primitive Ventures, GSR, Collider Ventures and Stake Capital. The Series A financing brings Fhenix's total financing to $22 million. The Fhenix mainnet is expected to be launched in the first quarter of next year.

Last September, the blockchain project Fhenix completed a $7 million seed round of financing, led by Multicoin Capital and others.