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Monad Labs in talks to raise more than $200 million round led by Paradigm, valuing the Jump Crypto–linked startup at $3 billion

Massive crypto raises are back: Paradigm, the venture firm behind many of the industry’s top startups, is in talks to lead a round north of $200 million for Monad Labs, a startup that aims to build a faster competitor to the blockchain Ethereum, according to people familiar with the raise. The round, which would follow Monad Labs’ $19 million seed round announced in February 2023, values the startup at $3 billion, according to those familiar with the deal. Paradigm has signaled it will commit $1...

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