FTX Ventures, an investment firm, led a $300m Series B funding round in Mysten Labs, a web3 infrastructure company and developer of the Sui Layer 1 blockchain, with participation from a16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, Lightspeed Venture Partners, Sino Global, Dentsu Ventures, Greenoaks Capital, and O’Leary Ventures. “Current web3 infrastructure is in the dial-up era – it’s slow, expensive, capacity constrained, insecure, and simply hard to build for. With Sui, we are endeavoring to build a blockchain that scales with demand and incentivizes growth, eliminating middlemen, and enabling users across applications to seamlessly integrate and interact with their favorite products. This new funding will enable Mysten to continue to scale Sui, and we are grateful for the support from blue-chip investors and strategic partners who are aligned in our mission to unlock the ownership economy and bring digital assets to the masses," Evan Cheng, Mysten Co-Founder and CEO.