Share this article
BTC
$79,878.87
+
2.80%ETH
$1,584.15
+
2.48%USDT
$0.9997
+
0.02%XRP
$1.9083
+
4.18%BNB
$561.51
+
2.01%USDC
$1.0000
-
0.00%SOL
$111.27
+
7.57%DOGE
$0.1513
+
6.25%TRX
$0.2324
+
2.67%ADA
$0.5937
+
6.42%LEO
$8.9739
+
0.52%TON
$3.1111
+
7.51%LINK
$11.64
+
6.33%XLM
$0.2331
+
8.48%AVAX
$17.15
+
8.82%SHIB
$0.0₄1152
+
3.85%SUI
$2.0609
+
10.89%HBAR
$0.1549
+
14.03%OM
$6.3803
+
7.58%BCH
$279.20
+
4.78%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Crypto Infrastructure Firm Blockdaemon Raises $207M at $3.25B Valuation
Sapphire and Tiger Global led the latest round, which follows a $155 million Series B last September.
The unicorn valuations are still here despite the crypto market's current sea of red, with Blockdaemon being the latest example.
The blockchain infrastructure firm said Wednesday it commanded a $3.25 billion post-money valuation after a $207 million Series C led by Sapphire and Tiger Global. Blockdaemon had been valued at $1.3 billion in its September 2021 Series B. Earlier Wednesday, crypto exchange FTX US announced a $400 million funding round that valued the firm at $8 billion.
STORY CONTINUES BELOW
Blockdaemon provides backend support for projects across a number of blockchains, with services that include everything from node operations to staking as a service.
"The digital asset class is here to stay, especially as financial services and publicly traded companies continue to enter the fray," Sapphire's Jai Das said in a statement, pointing to the need for secure, albeit unsexy, infrastructure support for "compliant and scalable participation in Web3/DeFi."
Read more: Blockchain Infrastructure Firm Blockdaemon Nabs $1.3B Valuation in $155M Funding Round
Blockdaemon is among a class of backend platforms such as Infura and Alchemy that undergird a wide swath of the crypto ecosystem. The ConsenSys-owned Infura is widely seen as a crown jewel of the Ethereum venture studio; Alchemy was valued at $3.5 billion in a $250 million funding round announced in October.
For Blockdaemon's part, the firm will be venturing into new areas with its latest capital infusion. The company said it is spinning up a DeFi Fund to "make structured investments in the crypto and blockchain ecosystem."
Similarly, the company is partnering with StakeWise to offer institution-friendly decentralized finance (DeFi) services. Platforms such as Aave have been leading the charge in building versions of DeFi that serve big clients with complex compliance needs; Blockdaemon seems to be following suit as buttoned-up investors hunt for yield.
A Blockdaemon spokesperson confirmed both the DeFi Fund and the StakeWise tie-up are newly announced.
UPDATE (Jan. 26, 21:44 UTC): Adds information throughout.
Zack Seward
Zack Seward is CoinDesk’s contributing editor-at-large. Up until July 2022, he served as CoinDesk’s deputy editor-in-chief. Prior to joining CoinDesk in November 2018, he was the editor-in-chief of Technical.ly, a news site focused on local tech communities on the U.S. East Coast. Before that, Seward worked as a reporter covering business and technology for a pair of NPR member stations, WHYY in Philadelphia and WXXI in Rochester, New York. Seward originally hails from San Francisco and went to college at the University of Chicago. He worked at the PBS NewsHour in Washington, D.C., before attending Columbia’s Graduate School of Journalism.
