Gate News Report, March 20 — Decentralized social network Bluesky announced the completion of a $100 million Series B funding round led by Bain Capital Crypto, with existing investors Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and Knight Foundation participating. The funding round was completed in April 2025 but was not disclosed publicly before. Bluesky did not disclose its latest valuation; previously, its Series A funding of $15 million was led by Blockchain Capital. Along with the funding announcement, Bluesky CEO Jay Graber announced her resignation and will take on the role of Chief Innovation Officer. Graber previously stated that although Bluesky does not involve cryptocurrencies, its decentralized design was inspired by her early work at Zcash, aiming to evolve centralized social media into an open, distributed network.
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