Struggling Ethereum Giant ConsenSys Seeks $200 Million Raise at Billion-Dollar Valuation

By CCN.com: Ethereum development studio ConsenSys is struggling financially and is now trying to raise $200 million from outside investors to stay afloat. The fundraising drive comes just four months after the Brooklyn-based blockchain startup laid off 13% of its workforce. ConsenSys has not yet commented on the rumors, which were reported by The Information. Sources say the crypto company wants its valuation to top $1 billion, but prospective investors believe that’s unrealistic given its current financial woes. The Brooklyn-based firm — which employs 900 people — posted revenue of just $28 million in 2018. Ethereum Giant ConsenSys Tightens Belt, The post Struggling Ethereum Giant ConsenSys Seeks $200 Million Raise at Billion-Dollar Valuation appeared first on CCN