Movement Labs is about to complete a US$100 million Series B financing, with a valuation of US$3 billion

PANews reported on January 8 that according to Fortune, Movement Labs, which focuses on the development of the Ethereum Layer 2 blockchain, is close to completing a US$100 million Series B financing with an estimated valuation of US$3 billion. This round of financing is jointly led by CoinFund and Nova Fund (the digital asset arm of Brevan Howard). Investors will receive shares in the company and its token Move, focusing on the form of tokens. Movement Labs previously completed a $38 million Series A round of financing in April 2024 , led by Polychain Capital. Completion of this round of financing is expected to be achieved by the end of January.

Movement is based on the Move programming language developed by Facebook, which is different from independent public chains Aptos and Sui. It adopts a Layer 2 structure and fully utilizes the Ethereum ecosystem. Its mainnet beta version and Move token were launched in December 2024. Move's current market value is approximately US$2.25 billion, which has nearly doubled since its launch.