Fun

News Feed - 2023-09-19 04:09:55

Tristan Greene4 hours agoBlockchain Capital closes funds totaling $580M for investments in crypto gaming, DeFiThe funds include $380 million for early stage investments and a $200 million "opportunity fund."985 Total views6 Total sharesListen to article 0:00NewsJoin us on social networksVenture capital group Blockchain Capital announced the closing of two new funds, totaling $580 million, for investment in infrastructure, gaming, DeFi, and consumer and social technologies.


The funds will operate as Blockchain Capital’s sixth early stage fund and its first “opportunity fund,” with the latter serving as an inroad to companies who’ve already secured major funding elsewhere.We"re thrilled to share the closing of 2 new funds – our 6th early stage fund and 1st opportunity fund.

Together, they total $580 million and serve to reinforce our commitment to leading the global transition to decentralized, blockchain-based systems. ↓https://t.co/Vr2uYnGlF7— Blockchain Capital (@blockchaincap) September 18, 2023


According to a press release from Blockchain Capital:“The end game is to elevate personal empowerment by granting individuals control over their digital and financial lives through innovative blockchain-enabled applications and services. It’s this vision of a democratized and distributed future that guides our passion and investment decisions.”


The funds’ combined $580 million will be split, with $380 million reportedly going to the early stage fund and the rest earmarked for the opportunity fund. It’s unclear at this time exactly what types of projects the investment fund will prioritize.


According to the press release, the company will continue its trend of investing in infrastructure, DeFi, gaming, and other finance, blockchain and cryptocurrency opportunities.


However, the press release also mentions that Blockchain Capital’s strategy “isn’t about sectors; it’s about harnessing blockchain technology to realign incentives, reestablish user trust and reengineer the social contract of our increasingly digital world.”


Related:Crypto companies form Texas blockchain group to advocate for clear regulations


“Indeed, the crypto market’s volatility these past 20 months revealed the hazards of short-term thinking, exposing many who misjudged this nascent technology,” writes Blockchain Capital in the release, adding later that “over the past 20 months we’ve invested more capital into the next generation of innovators than any other time in our history.”


The latest funds closed are among the largest in cryptocurrency or blockchain history and the most ever accrued by Blockchain Capital. However, this shouldn’t be interpreted as a signal that the firm intends to continually increase fund sizes.


Speaking to TechCrunch, one of the firm’s partners, Spencer Bogart, said that the firm had “no intent to expand and become an AI fund or hedge fund and trade tokens,” adding that he didn’t see future funds “becoming much larger than what you see here.”# Cryptocurrencies# Business# Funding# Venture Capital# Blockchain Capital# DeFiAdd reactionAdd reactionRead moreWho invented NFTs?: A brief history of nonfungible tokensDecentralized finance needs alternatives to blockchainSEC embroiled in court cases; Hester Peirce says crypto firms shouldn’t give up on US

News Feed

Sky High Bitcoin and Ethereum Fees: While Prices Jump the Cost to Transfer Follows Suit
Sky High Bitcoin and Ethereum Fees: While Prices Jump the Cost to Transfer Follows Suit While a number of digital currencies have seen price gains the two leadin
Turner Wright3 hours agoUS lawmakers call on SEC chair to approve spot Bitcoin ETFs ‘immediately’The members of the House Financial Services Committee are expected to question Gary Gensler during a Sept. 27 hearing o
Russian Billionaire and Crypto Businessman Dies in Helicopter Crash in France
Russian Billionaire and Crypto Businessman Dies in Helicopter Crash in France Russian financier and cryptocurrency entrepreneur Vyacheslav Taran has been killed in a helicopter cra
David Attlee9 minutes agoG20 adopts IMF-FSB Synthesis paper on crypto regulationThe Group of Twenty accepted the regulatory roadmap proposed in a joint Synthesis paper of the International Monetary Fund and the Financial
FBI Warns About Cryptocurrency Theft Scams Using Play-to-Earn Games
FBI Warns About Cryptocurrency Theft Scams Using Play-to-Earn Games The FBI has issued a public service announcement (PSA) warning on the utilization of play-to-earn games as part
Midsize US Banks Ask Regulators to Extend FDIC Insurance to All Deposits for 2 Years Before Another Bank Fails
Midsize US Banks Ask Regulators to Extend FDIC Insurance to All Deposits for 2 Years Before Another Bank Fails The Mid-Size Bank Coalition of America has asked federal regulators t
Turner Wright5 hours agoJudge signs off on $1.65B settlement between Voyager Digital and FTCThe settlement between the crypto lending firm and the FTC was first announced in October and does not resolve former CEO Stephe
Bitcoin, Ethereum Technical Analysis: ETH, BTC Lower, US Retail Sales Slow
Bitcoin, Ethereum Technical Analysis: ETH, BTC Lower, US Retail Sales Slow Ethereum fell lower on Thursday, as cryptocurrency markets continued to react to the latest U.S. retail s
Fasttoken, Official Crypto of Fastex, to Launch to the Public on January 18
Fasttoken, Official Crypto of Fastex, to Launch to the Public on January 18 sponsored Developed by technology giant SoftConstruct, Fasttoken (FTN) is the official cryptocurrency in
Reports Say Beijing Attacking Taiwan Could Lead to ‘Far-Reaching Economic Consequences’
Reports Say Beijing Attacking Taiwan Could Lead to "Far-Reaching Economic Consequences" While the global economy remains gloomy and the war in Ukraine continues, there’s bee
Crypto Asset Manager Bitwise Files to Publicly Trade Bitcoin Fund
Crypto Asset Manager Bitwise Files to Publicly Trade Bitcoin Fund On February 2, the crypto asset manager, Bitwise Asset Management, announced it had filed a For
Ex-Real Madrid Football Player Joins a Spanish Lower Division Club in Deal Financed With Crypto
Ex-Real Madrid Football Player Joins a Spanish Lower Division Club in Deal Financed With Crypto In a possible first for Spanish football, DUX Internacional de Ma