Activity Labs closes $100 million Series B funding round

Movement Labs, a San Francisco-based team developing the Layer-2 blockchain on top of Ethereum, has announced that it is closing in on $100 million in Series B financing for $3 billion. Investors will receive a combination of equity and Move tokens. The round, jointly led by CoinFund and Nova Fund, comes amid a resurgence in the crypto market. Move uses the Move programming language, originally developed by Facebook for its DEM project. As of January 7, 2025, the market cap of Move token is $2.25 billion. Move aims to combine the advantages of Move with the Ethereum ecosystem to differentiate it from competitors like Aptos and Suyu. It launched its main beta version in December, with the token currently trading on major exchanges like Binance and Coinbase. A