A16z Crypto, Sequoia Capital, Circle Ventures, Samsung Next, OpenSea and the auction house Christie’s participated in the funding round for the Vancouver-based company, whose software can transport data between different blockchains. Co-founder and CEO Bryan Pellegrino told crypto news site The Block that while the company “didn’t need the money,” it will use it to finance its growth plans into the Asia-Pacific region and gaming. (The Block)

Talking point: Pellegrino’s comment is quite the flex, given the tough times and down rounds other startups are contending with. LayerZero has attracted big name investors and commanded high valuations since it emerged from stealth mode in 2021, before it had even launched a product. It’s now used by well known decentralized exchanges, has facilitated more than two million messages across more than 30 blockchains and secured over US$7 billion in total value locked in smart contracts, a decentralized finance indicator used to assess the value of assets deposited in a project.