San Francisco-based software development team Movement Labs is close to securing its Series B funding round, valued at approximately $3 billion, according to multiple sources. The funding comes as cryptocurrency prices have surged since the election of Donald Trump’s second term, sparking renewed interest in blockchain technology.
Movement, founded by two college dropouts, previously raised $38 million in Series A funding led by Polychain Capital and other top investors. The latest round will be co-led by CoinFund and Nova Fund from Brevan Howard’s digital assets arm. Investors will receive a combination of equity and Movement’s proprietary token, Move.
Movement operates as a layer-2 blockchain on Ethereum, utilizing the programming language originally developed for Facebook’s Diem project. Its structure aims to allow developers to utilize Move while leveraging Ethereum’s popular ecosystem. The company has launched a beta version of its mainnet along with its token, currently trading at $2.25 billion.
The funding round is expected to close by the end of January and comes as investors like Khosla Ventures return to the sector after a prolonged downturn in digital assets markets.
Source: https://fortune.com/crypto/2025/01/08/movement-labs-series-b-100-million-coinfund-brevan-howard