Flashbots is seeking to raise up to $50 million at a $1 billion valuation, and Paradigm has committed to lead the round

Flashbots, The Ethereum infrastructure service, is in discussions with potential backers to raise as much as $50 million at a $1 billion valuation, according to sources familiar with the matter. Instead of pitching to potential investors, Flashbots invited investors to pitch opportunities to participate in the round. In addition, crypto venture firm Paradigm has committed to lead the round, and data site Crunchbase has listed Paradigm as the lead investor for Flashbots' seed round in 2020, according to people familiar with the matter. Flashbots and Paradigm did not immediately respond to requests for comment.