Babylon Labs Secures $70 Million Funding to Revolutionize Bitcoin and Proof-of-Stake Chains

In a remarkable stride towards revolutionizing the integration of Bitcoin with Proof-of-Stake (PoS) chains, Babylon Labs is thrilled to announce the successful raising of $70 million in its latest funding round. This substantial investment will significantly bolster our mission to create a decentralized world that capitalizes on Bitcoin's unique attributes, establishing it as a trusted security backbone for PoS systems. Founded by visionary researchers David Tse, Fisher Yu, and Sreeram Kannan, Babylon Labs emerged from groundbreaking academic contributions to Bitcoin security, underscoring our commitment to enhancing decentralized financial ecosystems. The recent endorsement of our work by the prestigious 2023 IEEE Symposium on Security and Privacy highlights the academic rigor behind our innovative approach. With a dedicated team of consensus protocol researchers from Stanford and expert layer 1 engineers globally, we are poised to bring our groundbreaking initiatives—the Bitcoin Staking Protocol, Bitcoin Timestamping Protocol, and Bitcoin Data Availability Protocol—to life. Each of these protocols aims to leverage Bitcoin’s strengths: its status as an asset, its reliable timestamping service, and its unparalleled resistance to censorship. The insights and expertise garnered through this funding will enable us to accelerate our development efforts, empower Bitcoin holders with new yield opportunities, and steadily scale Bitcoin’s role in securing a decentralized economy. As we look ahead, our vision for a more integrated and secure financial landscape is clearer than ever, and we invite our partners and community to join us on this transformative journey.