Flashbots becomes unicorn after raising $60 million
San Francisco-based firm Paradigm has invested $60 million to support the development of Flashbots’ new Ethereum blockchain transaction packaging software version. Notably, the series B funding round contrasts with the current trend among Silicon Valley venture capitalists. Flashbots fosters transparency Flashbots, a Cayman Islands-based software provider that bundles Ethereum blockchain transactions, secured funding via “decentralization beauty contest.” This involves selecting investors through reverse pitches. The funding has led to a valuation of at least $1 billion, as confirmed by a Flashbots representative. Since 88% of validators collaborate with entities like Flashbots to receive additional fees, this valuation is expected. You might also like: Flashbots drops new short-term censorship resistance strategy Flashbots specializes in developing software to address the issue of “maximal extractable value” (MEV), referring to the a...