Berachain crypto project on track for unicorn status

According to Bloomberg, Berachain is currently completing a new round of financing which adds value topublisher of the blockchain specialized in DeFi to moreone billion dollars.

Berachain is close to closing a new $69 million funding round led by Brevan Howard Digital, the web3 subsidiary of UK fund Brevan Howard, and crypto VC Framework Ventures, reported Bloomberg on Friday, citing sources close to the matter.

The startup behind the layer 1 blockchain focused on decentralized finance had already secured $42 million in Series A funding last year from Polychain, Hack VC and Dao5.

Founded by the creators of the NFT Bong Bears collection, Berachain presents itself as an EVM-compatible blockchain built on a proof-of-liquidity consensus using the Cosmos SDK.

The new funding round would take the form of a token sale, and would enable Berachain to achieve unicorn status, propelling its valuation to $1.5 billion.

The Berachain ecosystem includes several digital coins with BERA, BGT and the HONEY stablecoin. The launch of its testnet took place at the beginning of the year.

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