💰'Network State' project Praxis secures $525 million to build crypto-friendly city.

Praxis, the ambitious project that bills itself as the world’s first "Network State," announced on Tuesday it secured $525 million to finance the building of a tech-forward city that will support the development of crypto, artificial intelligence, energy and biotech.

"With this capital, Praxis can execute its vision of building the next great city," the project said in a statement. "The city will be designed to attract entrepreneurs and foster breakthroughs in AI, crypto, biotech, energy, and advanced manufacturing ... The culture of the city will promote the traditional values of Western Civilization."

Praxis, helmed by 28-year-old cofounder Dryden Brown, provided a long list of new investors, including Arch Lending, GEM Digital, Manifold Trading, and angels like Farcaster CEO Dan Romero and Worldcoin co-founder Max Novendstern. The project has previously raised money from Paradigm, Alameda Research and Three Arrow…