According to Coindesk's report on September 18, Hemi Labs, co-founded by Bitcoin developer Jeff Garzik, announced the completion of a $15 million financing round for the development and launch of Hemi, a second-layer blockchain network built on Bitcoin and Ethereum. This round of financing was led by Binance Labs, Breyer Capital, and Big Brain Holdings.

Breyer Capital was an early investor in Facebook, Circle, and Spotify. As a single blockchain and a second-layer solution for both Bitcoin and Ethereum, the Hemi network aims to combine the strengths of the two networks, integrating the security of Bitcoin with the liquidity and programmability of Ethereum. Garzik stated that the most attractive approach to building a second-layer network is to simultaneously build on Bitcoin and Ethereum. Currently, Hemi's incentive testnet is live, with the mainnet scheduled for launch in the fourth quarter of this year. Other participating investors include well-known institutions such as Crypto.com, Web3 Ventures, and HyperChain Capital.