Decentralized messaging protocol XMTP core development team Ephemera completes $20.00 million Series B funding round

Decentralized messaging protocol XMTP's core development team, Ephemera, has 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 native communication infrastructure, providing end-to-end encryption and identity-native secure communication capabilities. The mainnet is expected to launch within the year. [TheBlock]