Fun

News Feed - 2023-07-19 10:07:00

Tom Mitchelhill7 hours agoPolychain Capital, Coinfund raise $350M for new crypto funds: ReportPolychain Capital raised $200M for its newest fund while Coinfund raised a better-than-expected $152 million.1624 Total views15 Total sharesListen to article 0:00NewsJoin us on social networksOver $350 million has been raised by crypto venture capital firms Polychain Capital and Coinfund, with respective reported raises of $200 million for a new investment fund and $152 million for a seed fund.


A July 18 Forbes report said Polychain’s $200 million sum was raised in the “first close” of its fourth investment fund, according to sources familiar with the matter. The close means Polychain has now signed agreements with investors and can begin issuing funding to startups and projects.


Despite the significant raise, Polychain still intends to raise $400 million in total for the new fund. Additionally, Polychain let go of three members of its research team due to its new investing priorities.


Polychain currently manages a total of three funds with approximately $2.6 billion in assets under management, according to Pitchbook data.


Despite VC funding for crypto projects declining consistently for over a year, VC firm Coinfund also raised $152 million for its fourth seed fund, according to a July 18 Bloomberg report.July is CoinFund’s 8th anniversary, celebrating the journey of @jbrukh @flexthought and team from kitchen table to cap table. We’re thrilled to bolster this milestone with the announcement that CoinFund has closed its $158M Seed IV Fund to back the leaders of the new internet

pic.twitter.com/6kwBFuIHiy— CoinFund (@coinfund_io) July 18, 2023


Coinfund CEO Jake Brukhman said the company had its sights set on raising $125 million but managed to rake in an additional $27 million due to a resurgence of interest in the industry.


Related:US ‘dominates’ crypto startup funding in Q2: Report


The total volume of venture funding for crypto and Web3 startups has declined by 76% from this time last year, according to data from business analytics firm Crunchbase.The total sum of venture funding and number of deals for crypto startups in the last two years. Source: Crunchbase


Investors have reportedly grown wary of the crypto sector, following on from the collapse of Do Kwon’s Terra Money ecosystem, Sam Bankman-Fried’s FTX and a number of other high-profile projects over the span of the last two years.


This has caused a retreat into more traditional market sectors and many venture capitalists have become cautious of new investments across the board, with the only notable exception being artificial intelligence.


As of Jan. 1, the AI industry had seen in excess of $12 billion dollars in venture funding as investors race to capitalize on the nascent sector.


Asia Express:China expands CBDC’s tentacles, Malaysia is HK’s new crypto rival# Business# Funding# Venture Capital# Startups# AdoptionAdd reactionAdd reactionRelated NewsCan memecoins be used as real currency?9 AI coding tools every developer must knowBitcoin rally will lead to "speculative blow-off top” in 2024, Mark Yusko predictsCointelegraph Accelerator welcomes Web3 venture builder GAMI as a strategic partnerExecs remain positive on long-term prospects amid VC funding downturnUS ‘dominates’ crypto startup funding in Q2: Report

News Feed

Do Kwon’s Terraform Sent $7 Million to Law Firm Before Collapse, Report Unveils
Do Kwon’s Terraform Sent $7 Million to Law Firm Before Collapse, Report Unveils Prosecutors investigating failed blockchain firm Terraform Labs have found out that its Singapore
AAVE Price Soars 26% In A Single Week — Will Rising FOMO Lead To A Bust?
Este artículo también está disponible en español. The cryptocurrency market has been fairly positive over the past week, with the decentralized finance (DeFi) sector and
William Suberg10 hours agoBitcoin puzzles traders as BTC price targets $40K despite declining volume“Something doesn’t feel right” about the latest BTC price uptick, a warning tells traders, as Bitcoin open interes
Ezra Reguerra9 hours agoBlockchain gaming platform creates refundable NFT programSpielworks CEO Adrian Krion said that the NFTs will also provide mining power and material drops to players of their Dungeon Worlds game.12
Bitcoin vs. Buffett: BTC holders’ 104% CAGR dwarfs ‘steady growth’ portfolio
Yashu Gola9 hours agoBitcoin vs. Buffett: BTC holders’ 104% CAGR dwarfs ‘steady growth’ portfolioSince its trading debut in 2011, Bitcoin has delivered an impressive average annual return of approximately 104%, sur
Canada’s Blockchain Sector Wants Legal Clarity, New Report Shows
Canadian blockchain companies want to know where their government stands on the crypto space, a new report commissioned by the Canadian Digital Chamber of Commerce (CDCC) shows. The
Guneet Kaur12 hours agoWhat is the difference between DApps and protocols?Discover the contrasting functions of DApps and protocols in the blockchain world, and gain insights into how they contribute to the growth of dec
Google Pulls 49 Cryptocurrency Wallet Browser Extensions Found Stealing Private Keys
Google Pulls 49 Cryptocurrency Wallet Browser Extensions Found Stealing Private KeysGoogle has removed 49 cryptocurrency wallet browser extensions after a security researcher discov
Bitfinex launches volatility futures on Bitcoin and Ether
Helen Partz1 hour agoBitfinex launches volatility futures on Bitcoin and EtherBitfinex Derivatives is allowing investors to trade on the implied volatility of Bitcoin and Ether as another asset class.276 Total views1 Tot
Rachel Wolfson9 hours agoPayPal’s new PYUSD stablecoin faces legal headwinds and ‘less functionality’Industry experts explain the benefits and disadvantages of PayPal’s PYUSD stablecoin.8116 Total views30 Total s
EigenLayer on the brink of potential yield crisis
Zoltan Vardai14 hours agoEigenLayer on the brink of potential yield crisisLiquid staking tokens on EigenLayer will require more utility in the decentralized finance space to avoid a potential yield crisis in the future.1
ERC20 wallet drainer receives UK business registration
Christopher Roark4 hours agoERC20 wallet drainer receives UK business registrationA developer of the Nova Drainer phishing protocol has officially registered as a business in the UK.694 Total views1 Total sharesListen to