According to Odaily, Paradigm is negotiating to lead a financing round of more than US$200 million in Monad Labs, which would value Monad Labs at US$3 billion. Paradigm has said it would commit $150 million and has been contacting other investors since late 2023 to see if they would be interested in joining the round, people familiar with the matter said. If successfully completed, Monad Labs’ over $200 million funding round would be the largest cryptocurrency funding round so far in 2024, according to Crunchbase’s Web3 Tracker data. A spokesperson for Paradigm declined to comment, and Monad Labs co-founder and CEO Keone Hon did not immediately respond to a request for comment. (Fortune Magazine) According to news in February 2023, Monad Labs, a technology startup founded by the former team of Jump Trading, completed US$19 million in financing, led by Dragonfly Capital, Placeholder Capital, Lemniscap, Shima Capital, Finality Capital, Naval Ravikant, Cobie, Hasu and others participated in the investment.