Share this article
Blockstream Raises $21 Million from Google Chairman, LinkedIn and Yahoo Co-Founders
LinkedIn co-founder Reid Hoffman, Kholsa Ventures and Real Ventures led a new $21 million seed round for crypto startup Blockstream.
By Pete Rizzo
Updated Sep 11, 2021, 11:20 a.m. Published Nov 17, 2014, 4:24 p.m.
Blockstream has officially announced $21m in seed funding to continue the development of its much-anticipated blockchain technology proposal, 'sidechains'.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Announced on the Blockstream website, the round was led by LinkedIn co-founder and Airbnb board member Reid Hoffman; Khosla Ventures, which has previously invested in bitcoin API developer Chain; and Canada-based seed fund Real Ventures. In total, Blockstream indicated 40 investors took part in the round.
Blockstream CEO Austin Hill positioned the funding as proof that the wider tech industry is increasingly acknowledging the disruptive potential of the technological innovations first introduced by bitcoin through its underlying ledger.
Hill wrote:
“Blockstream is the first company extending the capabilities at the protocol level to support massive scaling of bitcoin and blockchain technology to a broad range of asset types. Put another way, the extension mechanism of sidechains, the company’s initial area of focus, allows any number of so far unthought of developments to happen in an open and interoperable way.
First introduced earlier this year and released on 23rd October, the sidechains white paper seeks to enable the creation of an entire ecosystem of blockchains over which digital assets can be exchanged and transferred, with bitcoin serving as the lead chain for such activity.
Additional investment firms that contributed to the round included Crypto Currency Partners, Google chairman Eric Schmidt’s Innovation Endeavors, Future\Perfect Ventures, Mosaic Ventures, Ribbit Capital and Yahoo co-founder Jerry Yang’s AME Cloud Ventures.
The announcement comes roughly one month after the first news regarding Blockstream’s funding round leaked online via an October filing with the US Securities and Exchange Commission. At the time, the document revealed Blockstream had raised $15m in funding, and that Hoffman would serve on the company’s board of directors.
Hoffman, in turn, took to LinkedIn today to discuss his investment, penning a lengthy entry on his belief in bitcoin as a revolutionary technology that will enable innovations in commerce.
Images via Blockstream; Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Asia Morning Briefing: Data shows legacy media took a more balanced view of bitcoin in 2025
Media attention shifted from bitcoin’s environmental footprint to crime and kidnapping in 2025, while overall sentiment remained broadly neutral, according to crypto intelligence platform Perception.
What to know:
- In 2025, mainstream media coverage of Bitcoin became more balanced, with neutral reporting surpassing negative stories.
- The shift in narrative was driven by the exhaustion of earlier critiques rather than increased enthusiasm for Bitcoin.
- AI emerged as the dominant topic in media, overshadowing Bitcoin and driving more significant sentiment swings.
Top Stories
