Wormhole Raises $225M in Biggest Web3 Funding Round of the Year

Wormhole, a messaging protocol startup, has raised $225 million in funding at a $2.5 billion valuation, making it the largest round in the Web3 space this year. The funding round included investors such as Coinbase Ventures, Jump Trading, Multicoin Capital, and Arrington XRP Capital, with their stakes consisting of token warrants for a yet-to-be-unveiled cryptocurrency. The Wormhole team has also announced the launch of Wormhole Labs, an independent company focused on building products and tools to help grow cross-chain development. Despite a slow year for funding in the Web3 sector, this round is exceedingly large and demonstrates continued interest in blockchain">blockchain technology.