Stripe’s Tempo Blockchain Raises $500M and Recruits Ethereum Core Dev Dankrad Feist in Bold Web3 Expansion

In a stunning move signaling Stripe’s deepening ambitions in crypto, the fintech giant’s blockchain project Tempo has raised $500 million in a Series A round, achieving a $5 billion valuation, according to Fortune. The funding was reportedly co-led by Greenoaks and Thrive Capital, marking one of the largest early-stage raises for a blockchain venture this year.

But the money wasn’t what dominated crypto discourse on Friday—it was the announcement that Dankrad Feist, one of the Ethereum network’s most respected core developers, is joining Stripe to help build Tempo from the ground up.

Feist, previously a lead researcher at the Ethereum Foundation, confirmed his decision to move to Tempo while continuing in a limited advisory capacity at the nonprofit. “This is the moment to bring crypto into people’s everyday lives,” Feist said, emphasizing that Stripe’s infrastructure could be the bridge between blockchain innovation and mainstream adoption.

The move drew both admiration and criticism across Crypto Twitter. Ethereum co-founder Vitalik Buterin offered public support, wishing Feist well in his new role. Others, however, saw it as a symbolic loss for Ethereum’s open-source ethos.

Despite the backlash, Feist’s move and Tempo’s enormous raise underscore a shifting trend: major fintech players are no longer just experimenting with blockchain—they’re building their own. For Stripe, Tempo may be the key to uniting payments, crypto, and real-world finance on a single chain.