Mysten Labs
Mysten Labs is a L1/L2 Blockchains company founded in 2021 and based in Palo Alto, United States. It has raised $336M in total funding, most recently a Series B in 2022 at a $2B valuation.
Mysten Labs was founded in 2021 in Palo Alto by a group of senior engineers and researchers from Meta's Novi/Diem blockchain effort, including CEO Evan Cheng and CTO Sam Blackshear, the creator of the Move programming language. The company builds Sui, a Layer 1 blockchain that models on-chain state as discrete objects rather than a single global account tree, enabling parallel execution of independent transactions and low-latency finality. In September 2022 Mysten Labs raised a $300 million Series B led by FTX Ventures at a valuation over $2 billion, with participation from a16z crypto, Jump Crypto, Binance Labs, and others. Sui has reported more than $1 trillion in self-reported stablecoin volume since August 2025, though the network suffered an hours-long mainnet stall in January 2026 caused by a validator consensus divergence.
Sui's object-centric data model and Move language make it one of the two flagship attempts (with Aptos) to commercialize the technology Meta built for Diem, and a leading high-performance L1 design.
mystenlabs.com ↗·L1/L2 Blockchains·
United States·private 
