Aptos Layer 1 Blockchain Raised $150M From FTX And Jump Crypto

The Aptos layer 1 blockchain raised $150 million from FTX crypto exchange but also from Jump Crypto and the blockchain startup is led by former Meta employees so let’s have a closer look at our latest blockchain news.

The Aptos layer 1 blockchain startup is led by a group of ex-Diem developers and managed to raise $150 million dollars in a Series funding that was led by Jump Crypto and FTX Ventures. The raise took the capital Aptos landed this year to $350 million and brought the company to a  valuation of $2 billion. The broader community raised questions about the project’s capabilities and the sum raised as the Series A funding round brought Aptos Labs’ total capital raised to $350 million this year.

Former Meta employees raised $150 million in hopes of bringing Diem’s original objectives to fruition. Aptos Labs announced that it raised $150 million in a Series A funding round led by FTX Ventures and Jump Crypto with a host of leading the venture capital companies like Andreessen Horowitz, Circle Ventures, and Multicoin Capital also taking part in the latest round.

Accoridng to the blog post published in February, Aptos seems to be the safest and most scalable layer 1 blockchain and it is developed by former Meta staffers that worked on Diem. Meta’s doomed plans are something that Aptos is hoping to build and improve. Aptos co-founder Mo shaikh said:

“Aptos was designed with an emphasis on absolute safety, extensible scalability, and credible neutrality—values that we know firsthand and viscerally understand. We’ve known for a while that, due to issues like outages and downtime, current blockchains are not fit for purpose when it comes to mass Web3 adoption.”

A few other Layer 1 blockchains that have high transaction throughputs like Celo, Solana, and Polygon, suffered from major network outages and required validator coordination to restart and bring the network online again. Aptos claims to be the next generation layer 1 that will avoid these issues. For example, Framework Ventures co-founder Vance Spencer said that Aptos can do what Solana can’t. the popular educator Anthony Sassano replied with a dig at the Solana-involved company Multicoin Capital saying that it will give Multicoin another chance to dump on retail.

Some high-profile crypto personalities also had their concerns over the amount the project raised and the CEO of Wintermute Evgency Gaveoy asked how much money it takes to launch a blockcahin after the annoucnement emerges to which the trader Cobie answered “ as much as you can get.” According to Bloomberg, the last fundraising doubled likely as the valuation could hit $1 billion in comparison. Aptos will use the capital to support the project’s development and to build a blockchain that will onboard even more users.