Crypto Startup by Ex-Meta Employees Collects $200 Million

Aptos is the latest cryptocurrency to emerge from Diem’s ​​abandoned digital currency project, the shattered dreams of Meta Platforms. Founded four months ago, the startup noted that it raised $200 million at a more than $1 billion valuation. Funding for a blockchain startup included several big names in cryptography. The funding round was led by Andreessen Horowitz, including Multicoin Capital, Tiger Global, and Three Arrows Capital. Also participating were cryptocurrency venture weapons, Coinbase Global and FTX; Like the new cryptocurrency launched by Katie Haun, a former general partner, and crypto-investment leader Andreessen Horowitz.

Aptos CEO Mo Shaikh declined to give an accurate estimate of the company. He said now the chief technology officer of Aptos, Meta, left in December; Since then Diem stablecoin project has not achieved any progress. Sheikh Diem was part of the team that created the blockchain. Shaikh and Ching founded Aptos, the first remote company with a significant portion of its 25-member team based in California.

Meta and Crypto Future

Meta has been trying to launch Stabilcoin since 2019; However, the cryptocurrency was called Libra. Diem rebranding, congressional review; Also, after the withdrawal of the US Federal Reserve and the departure of the crypto head of Meta, the project was completed. The Diem Association, which received support from Meta, sold its intellectual property to Silvergate Capital for $200 million in January.

According to Shaikh, his team at Meta developed expertise in the Aptos blockchain. It is currently in the testing phase. Access is open to blockchain developers; However, the public launch should happen in the third quarter of this year. When launching a new blockchain, Aptos follows Mysten Labs, another crypto startup founded by former Meta employees.