In a parched fundraising landscape, the team behind Wormhole, the messaging protocol that lets developers communicate across different blockchains, has secured a mammoth raise.
On Wednesday, the project announced that it had drummed up $225 million at a $2.5 billion valuation, which makes it the largest funding round for a crypto project in 2023, according to Crunchbase’s Web3 tracker. The raise was technically its first, Saeed Badreg, CEO of Wormhole Labs, told Fortune; however, Jump Crypto, the crypto offshoot of the high-frequency trading firm Jump Trading, incubated the project for years.
