Blockchain developer Movement Labs is raising US$100 million in its series B funding round, which could value the company at US$3 billion, a source says.

This funding round is led by the crypto-focused investor CoinFund, with participation from Brevan Howard’s digital asset arm.

Neither CoinFund nor Brevan Howard has commented on this funding, while Movement Labs plans to use the new capital for product enhancements, expanding its presence in the Asia-Pacific market, and hiring additional team members.

This funding follows a US$38 million raise last year and aligns with a rise in investor interest in crypto startups.

Venture capital activity increased by over 5% to US$368.5 billion globally in 2024, according to PitchBook.