Liquid restaking protocol ether.fi has raised $23 million in a Series A round led by Bullish Capital and CoinFund. The round also included investment from OKX Ventures, Foresight Ventures, Consensys and Amber, among others. CoinDesk is owned by the Bullish Group. The raise comes off the back of a rapid growth period for the restaking protocol, with the total amount of value locked (TVL) on the protocol rising to $1.66 billion from $103 million, DefiLlama data shows. The company also raised $4 million in a previously unannounced simple agreement for future equity (SAFE) round that closed toward the end of last year, it said in a tweet.
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