💰 LayerZero Labs raises $120 million at $3 billion valuation  

LayerZero Labs is developing the LayerZero protocol, a solution for aggregating DeFi applications across multiple blockchains. This is an alternative to blockchain bridges, which require multiple transactions to transfer tokens from one network to another. Top DeFi protocols including Uniswap, SushiSwap and PancakeSwap have integrated Layerzero for cross-chain transactions.

Investors include a16z Crypto, Sequoia Capital, Circle Ventures, Samsung Next, OpenSea and Christie's.