U.S. markets close in 2 hours 42 minutes
  • S&P 500

    4,251.23
    +4.79 (+0.11%)
     
  • Dow 30

    33,941.27
    -4.31 (-0.01%)
     
  • Nasdaq

    14,284.55
    +31.28 (+0.22%)
     
  • Russell 2000

    2,306.10
    +10.15 (+0.44%)
     
  • Crude Oil

    73.31
    +0.46 (+0.63%)
     
  • Gold

    1,782.40
    +5.00 (+0.28%)
     
  • Silver

    26.11
    +0.25 (+0.98%)
     
  • EUR/USD

    1.1933
    -0.0010 (-0.08%)
     
  • 10-Yr Bond

    1.4940
    +0.0220 (+1.49%)
     
  • GBP/USD

    1.3964
    +0.0017 (+0.12%)
     
  • USD/JPY

    110.9770
    +0.3420 (+0.31%)
     
  • BTC-USD

    33,657.16
    +1,498.18 (+4.66%)
     
  • CMC Crypto 200

    809.02
    -1.18 (-0.15%)
     
  • FTSE 100

    7,074.06
    -15.95 (-0.22%)
     
  • Nikkei 225

    28,874.89
    -9.24 (-0.03%)
     

Blockchain Platform Chia Raises $61M From a16z, Others at $500M Valuation: Report

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.

Chia Network, a programmable money platform created by BitTorrent founder Bram Cohen, has raised $61 million in Series D funding, Bloomberg reported.

  • Venture capital giants Andreessen Horowitz (a16z) and Richmond Global Ventures led the funding round.

  • Chia now has a valuation of about $500 million, according to an unnamed source, more than double the company’s previous valuation.

  • Cohen has been saying for several years he intends to take the San Francisco-based company public.

  • The company plans to use the funding for hiring and to become a payment method for financial services firms, government and other institutions.

  • Richmond Global Ventures managing partner David Frazee will join Chia’s board, according to the report. He invested individually in the firm.

  • A16z first invested in Chia in 2018.

Related Stories