Plus, a Dragonfly partner shares his view on the crypto VC market, and a mining hardware firm raises $80 million For venture capitalists looking for significant returns on their crypto investments, layer-1 blockchains that are compatible with Ethereum’s software are a pretty popular bet. This week, two layer-1 blockchains compatible with the Ethereum Virtual Machine (EVM) secured significant funding. Monad, which is developing a parallel EVM, raised $225 million in a round led by Paradigm. Meanwhile, Berachain, an EVM-compatible layer-1 built with Cosmos’ software development kit (SDK), closed a $100 million Series B funding round co-led by Brevan Howard Digital’s Abu Dhabi branch and Framework Ventures.