LayerZero Labs Seeks Backing that Would Triple Its Valuation to $3 Billion

LayerZero Labs has held talks with various investors in recent weeks about raising fresh funds at a valuation of $3 billion, according to people familiar with the matter. It announced a $135 million raise at a $1 billion valuation less than two months ago. One person close to the talks said its latest raise would be denominated in equity, as well as LayerZero token warrants, and tokens native to Stargate, a cross-chain bridge protocol.