Crypto Startup Mysten Labs Closes $300 Million Funding Round Led by FTX Ventures

Crypto startup Mysten Labs closed a $300 million funding round led by FTX Ventures with participation from Binance Labs, Coinbase Ventures, Circle Ventures, a16z crypto, Jump Crypto, and Lightspeed Venture Partners and others. The funds raised will be used to help the company build its Sui blockchain and hire more staff. Previously, Mysten Labs closed a $36 million round of funding from a16z in December of last year. It plans to launch Sui, a Layer1 blockchain network, with the mainnet to be launched later this year.