Crypto Giant Coinbase Executives Raise $5M In Investment To Launch A Web3 Platform

The former executives of Coinbase, Karthik Kalyanaraman, and Ola Muse, exited from the crypto exchange in August. Within two months of their exit, they’ve developed an infrastructural startup called Scale3 Labs. The firm is based on Web 3 innovations and aims to support blockchain node operators.

Their progress shows that the founders have completed a seed round of funding. According to a source, Redpoint Ventures led the fundraising process that generated about $5.3 million. Other participants in the round include Howard University and Mysten Labs.

Scale3 has started operating and the first blockchain network to receive its support is the Sui ecosystem of Mysten Labs. The firm has expansion plans for other networks in the last quarter of the year.

Function