DoubleZero Foundation receives $28 million in funding led by Dragonfly and Multicoin Capital

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DoubleZero Foundation receives $28 million in funding led by Dragonfly and Multicoin Capital

03-06 00:00

Odaily News According to people familiar with the matter, DoubleZero Foundation received $28 million in the latest financing, with a valuation of $400 million, and is currently seeking more investment at a valuation of $600 million. This round of financing was led by Dragonfly and Multicoin Capital. DoubleZero declined to comment. DoubleZero is building a global private fiber optic network to improve blockchain data transmission efficiency and reduce latency. It has opened the test network to Solana validators and plans to expand to more public chains. The network integrates private lines of institutions such as Jump Crypto, RockawayX, and Latitude. It is reported that Austin Federa, chairman of the DoubleZero Foundation, once served as the strategic director of the Solana Foundation. The other co-founders of the foundation, Andrew McConnell and Mateo Ward, are responsible for the project's core contributor company Malbec Labs. Jump Crypto is also one of the core contributors. (CoinDesk)

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