Layer 1 Blockchain Sei Closes US$50 million Ecosystem Funding

Layer 1 Blockchain Sei Closes US$50 million Ecosystem Funding

According to Fortune, after just completing a round of financing valued at $800 million, Sei Labs announced that its ecosystem fund has raised $50 million in new financing, with cryptocurrency exchange Bitget and Foresight Ventures, participating.

The newly announced $50 million commitment to the ecosystem fund will further attract projects to join Sei, bringing the total size of the fund to $120 million, with previous financing coming from Multicoin, Hudson River Trading, and GSR. The fund will be used to invest in projects built on the Sei platform and provide liquidity for trading.

In the latest public test network launched a month ago, Sei has processed over 40 million transactions and over 3.6 million users have created wallets.

 

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Source

Layer 1

Cosmos

Fund Raising

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