Share this article
Crypto Firm Flashbots Raises $60M in Paradigm-Led Round
The new capital will help develop the SUAVE decentralized platform for maximal extractable value (MEV).
Updated Jul 25, 2023, 6:18 p.m. Published Jul 25, 2023, 4:53 p.m.
Flashbots has raised $60 million in a Series B round led by crypto-focused investment firm Paradigm, a company spokesperson confirmed to CoinDesk in an email on Tuesday. The raise will fuel the continued development of its maximum extractable value (MEV) network, SUAVE.
Investors in the round were “selected based on their reverse pitches in a beauty contest for decentralization,” according to the spokesperson. No other backers beyond Paradigm were named.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Flashbots is an Ethereum-centric research and development startup that aims to remove the negative impacts of maximal extractable value (MEV), the potential profit that network operators can extract by previewing or re-ordering upcoming blockchain transactions.
The SUAVE (Single Unifying Auction for Value Expression) platform is an independent network that can act as a mempool (essentially a transaction waiting room) and decentralized block builder. Developers can use SUAVE to launch intra-block applications such as block builders or orderflow auctions. Those applications can compete to execute user preferences, creating cheaper and more private transactions than those traditionally found on chains like Ethereum.
Flashbots also builds MEV-boost, a piece of MEV-optimizing middleware used by most of the validators that operate Ethereum.
The Block first reported on the funding round, citing a July 21 filing with the U.S. Securities and Exchange Commission that showed Flashbots had raised $30,353,089 of a $59,999,919 target. More filings are "expected" to become public soon that would "likely" complete the round, the Block said (an earlier version of its article was more specific and unequivocal, saying that there would be two such filings in coming days for the full amount and citing an unnamed source). The publication said the round carried a $1 billion valuation. A Flashbots spokesperson declined to confirm that figure to CoinDesk.
UPDATE (July 25, 18:17 UTC): Updates sixth paragraph to reflect change in cited news article.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
