Movement Labs raises $38m to enhance Ethereum ecosystem with Facebook's Move Virtual Machine

San Francisco-based blockchain development team, Movement Labs, has raised $38m in Series A funding led by Polychain Capital and featuring participation from a range of investors. The funds will be used to bring Facebook’s Move Virtual Machine to Ethereum, addressing smart contract vulnerabilities and enhancing transaction throughput. Movement Labs aims to tackle smart contract vulnerabilities within the Ethereum ecosystem while introducing a novel execution environment designed for 30,000+ transactions per second.