Ephemera, the core development team of the decentralized messaging protocol XMTP, has completed a $20 million Series B financing

Decentralized messaging protocol XMTP's core development team Ephemera announced the completion of a $20 million Series B funding round, corresponding to a $300 million equity valuation and a $750 million network valuation. The round was co-led by Union Square Ventures, a16z crypto, and Lightspeed Faction, with participation from Coinbase Ventures, Sound Ventures, and others. XMTP has been officially integrated into Coinbase's new Base application, upgrading from an optional feature to a native communication infrastructure, providing end-to-end encrypted, identity-native secure communication capabilities, with the mainnet expected to launch this year. (TheBlock)