Wormhole raised $225M at a $2.5B valuation.
Cross-chain protocol wormhole receives $225 million investment at $2.5 billion valuation
According to the November 29 announcement, the investment round was led by Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Trading, ParaFi, Dialectic, Borderless Capital and Arrington Capital.
The Wormhole Foundation also announced the launch of a wormhole lab. Currently, blockchain-to-blockchain communication technology is used to connect assets, move verbal data feeds, and transfer immutable tokens.
Wormhole was launched in 2021 and has since facilitated over $35 billion in transactions. Developers claim that the protocol handles more than 2 million cross-chain messages across more than 30 chains every day.
In the year Shortly after the incident, venture capital firm Leap Crypto pledged to replenish the more than $320 million lost during the hack.
In May, former Terra Ecosystem investors sued Jump Trading's high-frequency trading firm Jump Crypto, alleging that the firm and its CEO, Kanav Karia, rigged the price of TerraUSD to make nearly $1.3 billion in profits. The charges have not yet been proven in court.
Related: Jump Crypto Funds Funds From $320M Wormhole Hack In Largest DeFi ‘bailout'
