LayerZero Labs bought back its stake from FTX Ventures and Alameda

LayerZero Labs bought back its stake from FTX Ventures and Alameda


Interoperability protocol LayerZero Labs announced on Nov.10 an agreement to buy out 100% of FTX Ventures’ and Alameda Research’s equity position, including token warrants and all agreements between the parties. 

In March, the protocol raised $135 million in a funding round co-led by FTX Ventures, bringing the startup’s valuation to $1 billion. Other investors in the round included Andreessen Horowitz, Sequoia, Coinbase Ventures and PayPal Ventures.

In a statement released to investors and published on Twitter, Bryan Pellegrino, LayerZero’s CEO, said:

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“We’ve worked around the clock for the past 72 hours to structure an agreement and have bought FTX/FTX Ventures/Alameda out of 100% of their equity position, token warrants, and any agreement between us.”

The agreement also included the purchase of the STG tokens Alameda had acquired from its community

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