Background

BAIN CAPITAL DUMPS $100M INTO LATEST CRYPTO WHITE ELEPHANT: Celestia Foundation’s Modular Data Availability Layer Protocol – Because What We Really Needed Was Another Blockchain Solution to Lose Our Life Savings

A  blockchain network is shown with many tiny blocks overflowing into a bucket labeled 'Congestion'. In contrast, another chain in the background appears sleeker and less crowded. A giant arrow points upwards from this second chain to an enormous block size meter reading 1GB.

The never-ending saga of crypto bros trying to scam their way into relevance continues with the latest funding round for Celestia Foundation’s modular data availability layer protocol. Because what we really needed was another blockchain solution that promises scalability and flexibility, but will probably just end up as a playground for rug-pullers and scammers.

Source: cointelegraph

The Celestia Foundation has secured $100 million in a funding round led by Bain Capital Crypto, with contributions from investors like Syncracy Capital, 1kx, Robot Ventures, and Placeholder.  According to a Sept. 23 announcement, the capital raised brings Celestia’s total fundraising to date to $155 million after a recent launch as one of the first modular data availability layer protocols. The startup targets one of the key challenges in blockchain […]

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