Crypto infrastructure company Alchemy said Thursday it raised $250 million in a Series C round led by Andreessen Horowitz (a16z), valuing the company at $3.5 billion and padding an already hefty venture war chest for building out crypto’s Web 3 stack. “We actually haven’t touched any of the money” from Alchemy’s $80 million Series B announced in March, said co-founder Joe Lau, “because we’re profitable as a business.” Alchemy, which provides developer services to decentralized finance (DeFi),...

Crypto infrastructure company Alchemy said Thursday it raised $250 million in a Series C round led by Andreessen Horowitz (a16z), valuing the company at $3.5 billion and padding an already hefty venture war chest for building out crypto’s Web 3 stack. “We actually haven’t touched any of the money” from Alchemy’s $80 million Series B announced in March, said co-founder Joe Lau, “because we’re profitable as a business.” Alchemy, which provides developer services to decentralized finance (DeFi),...