Decentralized Messaging Protocol XMTP Secures $20 Million in Series B Funding Led by a16z crypto and Others

According to Jinse Finance, Ephemera, the developer behind the decentralized messaging protocol XMTP, has completed a $20 million Series B funding round. The round was co-led by Union Square Ventures, a16z crypto, and Lightspeed Faction, with participation from a certain exchange's Ventures, Offline Ventures, Sound Ventures, and Distributed Global. Following this round, Ephemera's equity valuation stands at $300 million, while the broader network encompassing the XMTP protocol—which will issue a token—has been valued at $750 million.