0:00
0:00
Subscribe to Bankless or sign in
According to a report in The Block, upcoming high-performance 
Ethereum Layer-2 
MegaETH has repurchased 4.75% of company equity and token warrants from its early pre-seed investors.
What’s the Scoop?
- Strategic Buyback: The repurchase, covering both equity and token-linked warrants, was completed this summer at an undisclosed higher valuation than the company’s seed round, which raised $20M at a “nine-figure” valuation.
- Timing Before Mainnet: The move comes just ahead of MegaETH’s mainnet and token launch, expected before the end of the year. Buybacks of this kind are typically conducted post-launch, making this preemptive action unusual.
- Buy Back Rationale: Some pre-seed investors chose to exit due to fund closures. “We had investors that shut down their fund and tried to close all positions,” co-founder Shuyao Kong told The Block. “Since we don’t allow secondaries, the MegaETH team was the only available buyer.”
- Community Sales: MegaETH’s buyback follows a series of community-driven fundraising efforts, including: a $10M Echo round last December, the $13M The Fluffle NFT sale, and an upcoming public ICO through Sonar.
MegaETH is glad to announce we have bought back 4.75% of the company from early investors. pic.twitter.com/h3ObeBsoBF
— MegaETH (@megaeth_labs) October 17, 2025
0
0
