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Decrypt Spins Out From ConsenSys Mesh, Raises $10M at $50M Valuation

With the investment, the crypto news site plans to build out its Web 3 studio Decrypt Studios, which brands non-fungible tokens and metaverse activations.

Decrypt has raised $10 million in funding from 22 investors. (Shutterstock)
Decrypt has raised $10 million in funding from 22 investors. (Shutterstock)

Crypto news site Decrypt has spun out from its parent company ConsenSys Mesh and raised $10 million in funding at a $50 million valuation, Decrypt announced Tuesday.

  • The funds were raised from 22 investors, including venture capital firms Hack.VC, Hashkey Capital and Canvas Ventures, as well as decentralized autonomous organizations (DAOs) Global Coin Research DAO and Own.fund.
  • With the investment, Decrypt plans to build out its Web 3 studio Decrypt Studios, which brands non-fungible tokens (NFTs) and metaverse activations in fashion, entertainment and real estate. Decrypt will also invest in its decentralized newswire PubDAO.
  • Decrypt was founded in 2018 within blockchain incubator program ConsenSys Mesh. Decrypt CEO and co-founder Josh Quittner praised ConsenSys Mesh and its founder Joe Lubin for the long-term support.
  • "I’m thrilled about today’s announcement," Quittner told CoinDesk. "I’m especially grateful to Joe Lubin; we launched into the crypto winter and his support never wavered. The man has nerves of steel."

Read more: $450M Raise Values Ethereum Builder ConsenSys at $7B as MetaMask Tops 30M Users

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Jamie Crawley

Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.

Jamie Crawley