<p><span style="font-weight: 400;">Crypto media publication Decrypt has raised $10 million in a Series A round at a $50 million valuation</span><span style="font-weight: 400;">.</span></p> <p><span style="font-weight: 400;">The new funding came from 22 organizations, with no leading investor, in a bid to become a "truly independent news organization," the company <a href="https://decrypt.co/99237/decrypt-raises-10m-in-funding-spins-out-from-consensys-mesh">announced Tuesday</a>.</span></p> <p><span style="font-weight: 400;">Decrypt was previously owned by blockchain incubator ConsenSys Mesh, which was created in 2015 by Ethereum co-founder Joseph Lubin. The publication was spun out from ConsenSys Mesh prior to the funding round. </span></p> <p>The <a href="https://decrypt.co/financial-disclosures">list of new investors</a> includes venture capital firms Canvas Ventures, Hack.vc, Hashkey Capital, IOSG Group Limited, SKH Group and XBTO Humla Ventures, as well as a group of angel investors, strategic partners and DAOs like Global Coin Research DAO and Honey DAO. ConsenSys Inc will stay on board as a minority investor.</p> <p>"It's an extremely tribal world of crypto (...) Being actually independent is very different than knowing we are 100% paid for by ConsenSys (Mesh)," Decrypt CEO and co-founder Josh Quittner <a href="https://www.axios.com/decrypt-splits-parent-raises-10-million-5ede8f47-1345-4949-a6ba-81d604c070ae.html">told Axios</a>, which first broke the story.</p> <p>The company plans to use the funds to grow its news team and expand its web3-related project pubDAO. In 2021, Decrypt brought in $1 million in revenue, and this year it expects to grow that number to $5 million, per Axios.</p> <p>Decrypt Studios currently has 25 full-time employees and draws in around 5 million readers every month, according to the company.</p>