Monad Labs Raises $200 Million at $3 Billion Valuation to Build Faster Ethereum Rival

• Paradigm leads $200M+ round for Monad Labs, valuing the startup at $3B • Monad Labs aims to build a faster blockchain rival to Ethereum • Monad's founders previously worked at Jump Crypto before it pulled back from crypto • The raise signals continued investor appetite for layer 1 and layer 2 protocols • It would be one of the largest crypto raises so far in 2023 amid a bull market