Sei Network
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anchored·56beFY…p8A1Summary
Sei Network is a Layer 1 blockchain developed by Sei Labs, co-founded in 2021 by Jayendra Jog and Jeff Feng, designed to optimize high-throughput trading and DeFi with a parallelized EVM architecture. The project raised $35 million across seed and Series A rounds from prominent crypto VCs, launched its mainnet in August 2023, and has grown to over $600 million in TVL as of mid-2025. While no regulatory enforcement actions have been brought against Sei Labs or the Sei Foundation directly, the project faced community backlash over its 2023 airdrop distribution and carries structural risk concerns related to token unlock schedules, insider allocation concentration, and a low validator decentralization score.
Connected Entities
8 entities · 60 linked investigations- Ethereum→mentioned with→Coinbase(60%)
- Sei Network→mentioned with→Ethereum(65%)
- Sei Network→mentioned with→Binance(60%)
- Sei Network→mentioned with→Wormhole(75%)
- Sei Network→mentioned with→Coinbase(70%)
- Sei Network→mentioned with→Terra/Luna(60%)
- Binance→mentioned with→Ethereum(65%)
- Cosmos (ATOM)→mentioned with→Binance(60%)
- Sei Network→mentioned with→Cosmos (ATOM)(70%)
- Sei Network→mentioned with→Wormhole Bridge(80%)
- + 8 more
Timeline(14 events)
August 2022
Sei Labs raises a $5 million seed round from Multicoin Capital, Coinbase Ventures, Delphi Digital, Hudson River Trading, GSR, Hypersphere, and Flow Traders.
TechCrunch11 April 2023
Sei Labs announces $30 million raise at $800 million post-money valuation, with Jump Crypto, Distributed Global, Multicoin Capital, Asymmetric Capital Partners, Flow Traders, Hypersphere Ventures, and Bixin Ventures participating.
TechCrunch / CoinDesk15 August 2023
Sei Network mainnet launches. Community frustration mounts over inaccessible airdrop claims and the #SeiScam hashtag trends on X.
CoinDeskApril 2024
Two critical vulnerabilities discovered in Sei codebase — one capable of halting the chain, another capable of enabling unauthorized fund transfers — both reported via bug bounty program before production deployment. Sei Foundation awards $2,075,000 in total bounty payments.
Stakin / Sei ecosystem reportsJuly 2024
Sei v2 upgrade goes live, introducing the parallelized EVM and interoperability with Ethereum tooling.
Sei Official Blog29 January 2025
Sei Foundation announces $65 million Sapien Capital Venture Fund targeting DeSci startups.
Sei Ecosystem — Blockbase Insights8 May 2025
Sei Labs submits SIP-3, a governance proposal to deprecate CosmWasm and Cosmos accounts in favor of EVM-only architecture. Community approves the proposal.
CoinDesk / The Block20 June 2025
Wyoming Stable Token Commission shortlists Sei (score: 30) and Aptos (score: 32) for the WYST state-backed stablecoin pilot.
CoinTelegraph28 August 2025
21Shares files an S-1 registration statement with the SEC for the first proposed spot SEI ETF, with Coinbase Custody named as custodian.
SEC EDGAR6 April 2026
Sei Network disables its entire Cosmos stack — CosmWasm contracts, IBC interoperability, native oracle, and bech32 addresses — completing the transition to an EVM-only chain.
BlockEden / MEXC NewsDecision Log
- hash: 2rUeQuoEAgvn2Ex7fRAzEpPS3z7sMRVGhmNnn4vFikc1
- hash: 2Sm2TDug16Ahme8XSx2c6Ackswr6gKJG843v9gwb86sG
- hash: 7tY4bFprytna1U9qyVo4L543qMV3T4x5vvL1k6CTSFLx
This investigation is cryptographically anchored to the Solana blockchain (3 events). 21 of 24 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 5/20/2026, 3:46:59 AM
last updated: 7/26/2026, 12:05:37 AM
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