ConsenSys, the Ethereum developer behind MetaMask, has had talks with investors about a potential capital injection. However, the company insists it doesn’t need money and isn’t actively fundraising. Here are the key points:
1. Recent talks: ConsenSys has met with multiple investors about fundraising.
2. Previous funding round: ConsenSys raised $450 million in a Series D round in early 2022, valuing the startup at $7 billion.
3. Influx of interest: The company has seen an influx of inbound investor interest, partly due to inaccurate reporting on secondary market activity in its stock.
4. Secondary market discounts: Shares of highly valued crypto startups, including ConsenSys, have traded at significant discounts on secondary market platforms.
5. Strong performance: ConsenSys is highly capitalized and has demonstrated strong performance, so existing shareholders have no intention of accepting any dilution on terms inferior to the Series D round.
In conclusion, ConsenSys has dismissed claims of needing funding and is making use of its capital to buy back its own shares. The company has a range of core products aimed at expanding access to the Ethereum ecosystem.
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