According to TechFlow, on October 8, The Block reported that Bitlayer Labs, a developer of the Bitcoin Layer 2 network, announced the completion of a $9 million Series A financing extension, with a valuation of $300 million. This round of financing was led by Polychain Capital, co-led by Franklin Templeton, and followed by SCB Limited, Selini Capital, and G-20.Group.

Bitlayer co-founder Charlie Hu said that this round of financing began in early August and was completed last week. The financing adopted a SAFE agreement containing token warrants, and the valuation covered equity and fully diluted token valuation. So far, Bitlayer has raised a total of US$25 million.