The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

ConsenSys hits $7 billion valuation as investors pile into Web3

Sovereign wealth funds, other investors and banks will soon have to use cryptocurrencies to buy equity in companies building the decentralized web.

Photo: iStock

Away from the fretting about soaring energy prices, slowing growth, rising rates, falling equity and bond markets, and whether war in Ukraine may spread, relentless optimism still prevails in one corner of the financial world.

On Tuesday, ConsenSys, the leading Ethereum and decentralized protocols software company, announced a $450 million series-D fundraising that values it at $7 billion.

That is up from a valuation of $3.2 billion just four months ago when it closed a $200 million series C in which HSBC participated behind Marshall Wace, Third Point and ParaFi Capital.

Everywhere now we see evidence of a paradigm shift, as more investors connect to decentralized protocols
Simon Morris, ConsenSys

Less than a year has passed since the company raised $65 million from backers that included JPMorgan, Mastercard and UBS. Then, the company was delighted to have 3.5 million users of its self-custody MetaMask wallet for holding digital assets.

Come the series B in November, that number had soared to 21 million monthly average users, as holders of crypto ploughed into decentralized finance (DeFi) protocols to earn yield on their investments.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree