The entity behind the Walrus protocol, Walrus Foundation, has completed a $140 million financing round, with participation from Standard Crypto and a16z

2025-03-20 22:04:40

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ChainCatcher news, according to Fortune, the core entity of the blockchain storage protocol Walrus, the Walrus Foundation, announced the completion of a $140 million financing round, with Standard Crypto as the main investor. Other notable investment firms participating in this round include the crypto division of Andreessen Horowitz (a16z), Electric Capital, and Franklin Templeton's digital assets division. This financing values the total supply of the Walrus protocol's cryptocurrency (token symbol: $WAL) at $2 billion.

Adam Goldberg, Managing Director and Co-founder of Standard Crypto, stated in a statement: "Previous attempts at on-chain storage have faced challenges in scalability, flexibility, and security." The Walrus protocol was developed by Mysten Labs, the creators of the Sui blockchain. Evan Cheng, Co-founder and CEO of Mysten Labs, revealed to Fortune that this $140 million financing was completed in just the past three weeks, "the market demand is very strong." This is the first round of financing for Walrus conducted by Mysten Labs.

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