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ConsenSys Raises $65 Million to Accelerate Convergence Of Traditional And Decentralized Finance, with investments of JPMorgan, Mastercard and UBS

ConsenSys Raises $65 Million to Accelerate Convergence Of Traditional And Decentralized Finance, with investments of JPMorgan, Mastercard and UBS



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  1. People are still sleeping on Ethereum and Consensys’ enterprise progress over the bear market.

    – EY building Baseline with Consensys/Microsoft alone was incredibly valuable and useful for enterprise use of Ethereum. (tons of banks and organizations already are linked to this. Coke. Microsoft. Fedex. Google. The list is long).
    – Consensys buying the IIN from JP Morgan + becoming a strategic consultant with JP. (theres over 400 banks in this network).
    – Consensys building the enterprise blockchain tech stack (from Infura up to MM for Enterprises).
    – Theres more.

    TLDR: Consensys is a powerhouse.

  2. tldr; ConsenSys announced the final close of its $65 million funding round to accelerate the convergence of decentralized finance (DeFi) and Web3 applications on Ethereum with enterprise blockchain infrastructure. J.P. Morgan, Mastercard, and UBS invested alongside leading blockchain companies, including Protocol Labs, the Maker Foundation, Fenbushi, The LAO, and Alameda Research.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  3. OGs will know this, but since this sub has so many newcomers some background info may be useful. Consensys was founded by Joseph Lubin, one of the co-founders of Ethereum.

    It’s rather out of date, but this famous article “[The Prophets of Cryptocurrency](https://www.newyorker.com/magazine/2018/10/22/the-prophets-of-cryptocurrency-survey-the-boom-and-bust)” discusses Lubin a lot, and has a funny quote:

    > The founders assumed different roles. Lubin, who had Wall Street experience, was the chief operating officer. “That’s one of the silly titles we chose to give ourselves,” Lubin told me. “It didn’t really mean anything in that weird open-source project.” (Buterin dubbed himself the C-3PO.) Lubin positioned himself as the grownup in the room, the worldly chaperon. Wood, with whom he eventually clashed, said, “He wanted to be the mentor, the Obi-Wan Kenobi, but unfortunately he became the Darth Vader.”

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