Monad Labs reportedly in talks with Paradigm to raise $200m for ‘Ethereum killer’

New York City-headquartered blockchain startup Monad Labs is seeking $200 million to build the scalable smart contract distributed ledger. Monad Labs, a blockchain startup founded by former Jump Trading staff, is reportedly aiming to secure $200 million in funding and is already in talks with crypto venture firm Paradigm, which has indicated its intention to lead the funding round with a commitment of $150 million, Fortune has learned, citing sources familiar with the matter. At the time of writing, Monad Labs has not made any public statements regarding the fundraising efforts. Launched in 2023, Monad is an Ethereum Virtual Machine-compatible blockchain utilizing the proof-of-chain consensus mechanism.

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