Introducing the Enterprise Tech Power List: 30 operators, investors and up-and-comers to watch Read Now

Polygon co-founder Sandeep Nailwal. Photo by Polygon. Art by Mike Sullivan.
Crypto Global
Crypto

Polygon’s $400 Million Acquisition Aims to Speed Up Ethereum; Crypto Fans Offer Predictions for 2022

By  |  Dec. 9, 2021 4:30 PM PST
Photo: Polygon co-founder Sandeep Nailwal. Photo by Polygon. Art by Mike Sullivan.

Even though VC firms have flooded the crypto market with funding, a $400 million acquisition by Polygon is a reminder that startups in the wider blockchain field have played a strong role in shaping the future of crypto too. Polygon, which developed a protocol built on top of Ethereum that’s supposed to make the blockchain faster and easier to use, said Thursday that it had acquired Mir, a startup that has developed a way to simplify how Ethereum verifies transactions. 

Polygon co-founder Sandeep Nailwal compared his startup’s relationship with Ethereum to a bank’s connection to Venmo. “Ethereum is your bank account and Polygon is your Venmo, where you can freely and easily transfer things at a low cost online,” he said in an interview with The Information. “You don't have to go through a lot of complexity.” 

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Exclusive
DataRobot’s CFO, Three Other Senior Execs Depart Amid Fallout Over Share Sales
From left, DataRobot executives Tom Levey, former CEO Dan Wright and CFO Damon Fletcher. Fletcher and Levey are departing. Art by Mike Sullivan
The chief financial officer and several other senior executives at artificial intelligence startup DataRobot have resigned as the company prepares a second round of layoffs this year, according to two people with knowledge of the situation. The changes, announced internally in a meeting, are the latest sign of an ongoing leadership shakeup following last month's resignation of CEO Dan...
Latest Briefs
 
Axios Selling Itself to Cox Enterprises for $525 Million
SoftBank Reports Record $23.4 Billion Loss on Stock Market Rout
Baidu Wins Approval for China’s First Fully Driverless Robotaxi Services
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Data Point Google Facebook
Why Mark Zuckerberg and Sundar Pichai Are Worried About Productivity
Executives at Facebook parent Meta Platforms and Google parent Alphabet are feeling the pressure, so they’re giving employees a kick in the pants.
Art by Mike Sullivan
Opinion Startups Economy
Don’t Blame Tech Workers for Silicon Valley’s Bloated Head Counts
A frustrated Mark Zuckerberg paused during his weekly Q&A with Meta Platforms employees. He’d just gotten through warning everyone about the punishing downturn he saw coming , and the first question he got—one that, to be fair, had been pre-recorded—asked whether Meta Days, the extra time off given to workers during the pandemic, would continue in 2023.
Photos by Bloomberg. Art by Mike Sullivan
Exclusive Venture Capital Startups
Elon Musk’s No. 2 at SpaceX Does Damage Control
For years, many investors and employees at Space Exploration Technologies have regarded the company’s No.2 executive, Gwynne Shotwell, as the adult in the room at the boundary-pushing rocket company founded by Elon Musk.
Illustration by Jesus Escudero.
Exclusive Venture Capital Startups
Debt Is Back for Startups Shut Out of IPO Market
Tech startups that had been eager to go public this year have been forced to put those plans on ice amid the market meltdown.
Art by Clark Miller
The Big Read
‘He’s Making Up a World He Wants to Attack’: How Vivek Ramaswamy Became a Right-Wing Culture Warrior
Riley Moore had never met the man seated next to him. The state treasurer of West Virginia, Moore had come to a conservative retreat in the state’s storied Greenbrier resort in May 2021 to talk about a letter he and 14 other Republican state treasurers had just written to the Biden administration’s climate envoy, John Kerry.
Oracle's office (and former headquarters) in the San Francisco Bay Area. Photo by Bloomberg
Exclusive
Oracle Axes U.S. Staff, Part of Plan to Lay Off Thousands
Oracle has begun to lay off employees in the U.S., a move that will impact some staff in the San Francisco Bay Area, where the company was previously headquartered, said a person with direct knowledge of the matter.