Crypto publication Decrypt raises $10 million at $50 million valuation
The Decrypt funding comes from 22 VCs, DAOs, and web3 angel investors. The funds will be used in building the editorial team, Decrypt's Studios, and PubDAO
By Shashank Bhardwaj
Image: DeCrypt Studios
Decrypt, the popular news site announced on Tuesday that it has raised $10 million in a funding round and has spun out from its parent company, ConsenSys Mesh, the blockchain incubator. ConsenSys Inc still remains a minority investor. The funding round was raised on Decrypt’s post-money valuation of $50 million.
The funds were raised from over 22 VC investors. The list included known VC names like Hashkey Capital, Hack.VC, Protocol Labs, SK Group, and Canvas Ventures. The investors also had DAOs like Global Coin Research DAO, Honey DAO, Orange DAO, and Own.Fund. Decrypt plans to build its web3 studio Decrypt Studios which will specialise in branding NFTs and other metaverse activations in fashion, real estate and entertainment. The funds will also be invested in Decrypt’s DAO PubDAO, its decentralised DAO.
Decrypt will now be an independent entity. CEO and co-founder Josh Quittner thanked Joe Lubin for his unwavering support to the news organisation since the firm’s inception in 2018 under the ConsenSys Mesh incubator program.
“The first three years of Decrypt were foundational, and ConsenSys Mesh gave us all the support we needed to grow without the pressures that often come from being investor-backed,” said Quittner, adding, “Today, we’re pleased to announce we’re ready to take the next step into our independence. Our deepest thanks and gratitude to Joe Lubin, Michael Kriak, and the team at Mesh who helped to ensure the success of this venture into a publication on the vanguard of the crypto press.”
Decrypto was launched inside the ConsenSys Mesh incubator program in 2018 to make web3 and crypto understandable to the masses. Despite 2018 being tagged as a ‘Crypto Winter’, Decrypt believed in the potential of cryptocurrency as an industry and was of the opinion that there was a need for a media brand that would cover all the events happening in the crypto world truthfully.
Decrypto has grown into a full-blown media house today with its own studio and 25 full-time employees. It has a monthly readership of five million. Decrypt’s official website states, “On our editorial side, our vision remains the same as it's always been: to demystify crypto and blockchain for readers of all understanding levels with our daily news coverage and our Learn section.”
Shashank is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash

Crypto wallet users are warned as scammers might get active during the potential Ethereum hard fork
Read More..
Major financial institutions of Wall Street come together to set up digital assets exchange with on-chain settlement
Read More..
USDT goes live on NEAR Protocol, making it the 14th blockchain network to support Tether
Read More..
Ford is all set to make a grand entry into the Metaverse with virtual automobiles and NFTs
Read More..
UK advertising authority warns two former 'Love Island' contestants for crypto ads on Instagram stories
Read More..
Voyager Digital assets auction set for September 13 in Manhattan after company declares bankruptcy
Read More..
Data claims that trademark application for crypto, NFTs and Metaverse projects increase in 2022
Read More..
IMF states that crypto regulation needs to become a priority since crypto assets are now mainstream
Read More..
Arcane's expedition for repurposing Bitcoin mining heat can solve the global energy crisis
Read More..
CHZ, LDO and QNT made a bull run in the last 90 days, surpassing returns of top cap crypto assets
Read More..
New update means Facebook and Instagram users can post NFTs through linking their digital wallets
Read More..
Chinese Metaverse incoming! Beijing unveils intentions for two-year Metaverse innovation and development plan
Read More..
Uniswap reportedly looking at NFT financialisation and is talking to several lending protocols
Read More..
Uniswap Foundation gets green light after 99 percent of the community casts their vote in favour of the initiative
Read More..
Kenanga Bank and Ant Group partner up to revolutionise the digital investment management in Malaysia
Read More..
Crypto-aware parents and college graduates want their children to learn about crypto in schools
Read More..
Ready Player Me raises $56 mn in Series B led by a16z to expand its audience in the metaverse
Read More..
Crypto market at risk of a 20 percent drop to new yearly lows after breaking dreams of recovery
Read More..
A sharp increase in hacking this year leads to crypto security experts making $430k salaries
Read More..
SkyBridge Capital's Scaramucci believes that Bitcoin won't hedge inflation until it hits 1 bn wallets
Read More..
Fei Protocol founder proposes ghosting Tribe DAO following hack repayment while Beanstalk relaunches
Read More..
Hit and earn: Indian cricket fans can win as much as $500 a day playing cricket in the metaverse
Read More..
Czech prince William Rudolf Lobkowick is preserving heirlooms from his family's 700-year-old legacy using NFTs
Read More..
CryptoPunks' trading volume surges 1,847% after Tiffany & Co. launches exclusive NFT collection
Read More..
CoinDCX's India entity FY21 profit jumps nine-fold to Rs 4.36 crore, revenue rises to Rs 38.91 crore
Read More..
KuCoin raises $10M amidst the bear market; announces plan to support Indian Web 3 startups
Read More..
Crypto market stuck for now, but Bitcoin to make new all-time-highs within 24 months: Coinshares' CSO
Read More..
Mythical games enters a strategic partnership with NFL to launch play-and-own NFT video game
Read More..
CoinDCX offers an opportunity to its users to generate crypto yield on crypto assets through it's 'Earn feature'
Read More..
Backed by Shark Tank's Kevin O'Leary, WonderFi set to acquire Canadian exchange Coinberry
Read More..