2024

Bitcoin

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<p class="is-style-lead">Mezo, a Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) layer-2 (L2) network, has emerged from stealth mode with $21 million in venture capital.</p>
<p class="is-style-default">Pantera Capital led the funding round. Multicoin, Hack VC, ParaFi Capital, Nascent, Draper Associates, Primitive Ventures and Asymmetric Ventures joined the effort.</p>
<p class="is-style-default">Individual investors, including Dan Held, Tim Draper, and the pseudonymous DCF God, also participated.</p>
<p>Thesis, a blockchain venture studio that developed Mezo, confirmed the fundraising round, earlier this week.</p>
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   <p lang="en" dir="ltr">We're thrilled to announce our $21M raise from leading funds, including <a href="https://twitter.com/PanteraCapital?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@PanteraCapital</a>, <a href="https://twitter.com/multicoincap?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@multicoincap</a> and <a href="https://twitter.com/hack_vc?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@hack_vc</a> among others – and $4M in follow-on funding. <a href="https://t.co/LFfecKpcZL" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/LFfecKpcZL</a></p>— Mezo (@MezoNetwork) <a href="https://twitter.com/MezoNetwork/status/1777700303204131069?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 9, 2024</a>
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<p>Mezo operates as a permissionless Bitcoin economic layer, utilizing a neutral smart contract framework to offer a variety of applications. It joins the recent wave of Bitcoin L2 networks, aiming to expand its utility beyond trading.</p>
<p>Noteworthy counterparts include Babylon and Stacks, which focus on features, including <a href="https://crypto.news/liquid-staking-protocols-new-era-for-ethereum-validators/" target="_blank" rel="noopener noreferrer nofollow">staking</a> for Bitcoin users.</p>
<p>Thesis reportedly started the <a href="https://crypto.news/tag/fundraising/" target="_blank" rel="noopener noreferrer nofollow">fundraising</a> campaign for Mezo in December 2023, culminating in the $21 million round closure.</p>
<p>You might also like: <a href="https://crypto.news/us-government-bitcoin-holdings/" rel="noopener noreferrer nofollow"> US government tops global Bitcoin holdings with $15b in assets </a></p>
<p>According to Thesis, Mezo functions as a “permissionless Bitcoin economic layer,” leveraging a neutral smart contract infrastructure to facilitate various user applications.</p>
<p>The platform’s design aims to enhance Bitcoin’s infrastructure, enabling cost-effective and swift transactions. Users can gain access to applications using Bitcoin across various domains, thereby fostering a dynamic circular economy.</p>
<p>A standout feature of Mezo is its “Proof of HODL” points program, which incentivizes users to actively engage with Bitcoin holdings within the platform.</p>
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   <p lang="zxx" dir="ltr"><a href="https://t.co/Bv1tTGcppe" target="_blank" rel="noopener noreferrer nofollow">https://t.co/Bv1tTGcppe</a></p>— Mezo (@MezoNetwork) <a href="https://twitter.com/MezoNetwork/status/1778513924922425454?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 11, 2024</a>
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<p>Thesis CEO and Mezo founder Matt Luongo emphasized that Mezo seeks to transform Bitcoin holdings from idle assets to actively engaged assets within the network, rewarding users for contributing to network security.</p>
<p>The platform will feature a Bitcoin-backed Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) token, tBTC, which is designed to enable users to participate in Ethereum’s decentralized finance (defi) ecosystem while holding Bitcoin.&nbsp;</p>
<p>Following the successful funding round, Mezo has <a href="https://twitter.com/MezoNetwork/status/1778764717130956976" target="_blank" rel="noopener noreferrer nofollow">rep</a><a href="https://twitter.com/MezoNetwork/status/1778764717130956976" target="_blank" rel="noopener noreferrer nofollow">o</a><a href="https://twitter.com/MezoNetwork/status/1778764717130956976" target="_blank" rel="noopener noreferrer nofollow">rted</a> that its total value locked (TVL) now stands at more than $75 million with more than a thousand active addresses.</p>
<p>The Mezo funding comes as venture capitalists express renewed interest in the crypto space. During the first three months of 2024, global investors put $2.5 billion in startups, <a href="https://pitchbook.com/news/articles/venture-capital-fund-returns-uptick-2024" data-type="link" data-id="https://pitchbook.com/news/articles/venture-capital-fund-returns-uptick-2024" target="_blank" rel="noopener noreferrer nofollow">according</a> to PitchBook.</p>
<p>Read more: <a href="https://crypto.news/demand-appears-to-have-outpaced-issuance-as-bitcoin-halving-nears/" rel="noopener noreferrer nofollow"> Demand appears to have outpaced issuance as Bitcoin halving nears </a></p>

Bitcoin layer-2 network Mezo raises $21m in Pantera-led funding round

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