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Avalanche developer raising $350 million at $5.25 billion valuation: Report

Ava Labs, the main developer of the Avalanche blockchain, is reportedly raising $350 million in new funding at a $5.25 billion valuation. Bloomberg reported the new fundraising on Thursday, citing people familiar with the discussions — although only one source gave the valuation. The Block has reached out to Ava Labs for comments and will update this story should we hear back. The Avalanche blockchain was launched in September 2020 by Ava Labs as an “Ethereum killer.” It has garnered …

A look at Avalanche subnets

April 5, 2022, 1:28PM EDT • 9 min read Quick Take Avalanche is one the fastest growing L1 in the crypto space due to its EVM compatibility, low fees and latency, as well as its fast transaction finality  To further bolster the scalability of the Avalanche blockchain, Ava Labs introduced the concept of subnets, where unique ecosystems in the Avalanche network can be operated by different sets of validators Crabada, a popular game on Avalanche, recently launched its own native …