Bloomberg: Berachain, the New Public Blockchain, Secures $69 Million in Funding, Valued at $1.5 Billion

Bloomberg: Berachain, the New Public Blockchain, Secures $69 Million in Funding, Valued at $1.5 Billion

Bloomberg: Berachain, the New Public Blockchain, Secures $69 Million in Funding, Valued at $1.5 Billion

According to Bloomberg, Layer 1 blockchain Berachain is becoming a unicorn enterprise, having raised over $69 million in funding led by Brevan Howard Digital and Framework Ventures. Berachain raises funds by selling digital tokens, and its valuation is expected to reach $1.5 billion.

Both Brevan Howard Digital and Framework Ventures declined to comment, and Berachain did not immediately respond to requests for comment.

Founded by an anonymous team, Berachain is a public chain focused on decentralized finance (DeFi) and compatible with the Ethereum Virtual Machine (EVM). It is built on the Cosmos SDK and adopts the Proof of Liquidity (PoL) consensus mechanism. The blockchain has three main tokens: the Gas token BERA, the governance token BGT, and the stablecoin Honey.

In April 2023, Berachain raised $42 million in funding led by Polychain, with participation from institutions including Hack VC and OKX Ventures. Berachain’s public testnet “Artio” was released to the public in January this year.

Related article: “Decoding the Genius Design of Berachain, the Rising Star of this Bull Market”