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🔴Movement Labs Closes $100 Million Funding Round💯
Fortune reports that the deal would value the layer-2 developer at around $3 billion.
Movement Labs, a Web3 startup building the Ethereum layer-2 (L2) network, is preparing to close a venture funding round that is expected to raise $100 million, according to a report by Fortune on Jan. 8.
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The funding round is expected to value Movement at around $3 billion.
The deal would establish Movement as the latest blockchain developer to achieve “unicorn” status with a valuation of over $1 billion. Other recently formed unicorns include Celestia and Story Protocol, according to Crunchbase.
Web3 ventures raised nearly $1.6 billion in the fourth quarter of 2024. That’s well below the early-2022 quarter high of nearly $11 billion but higher than the 2023 bear market, according to the data.