FTX Ventures led the round, which also included a roster of prominent investors including a16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures and Lightspeed Venture Partners.
Despite the crypto market crash, it has been a strong year for venture funding. Venture- capital investors poured $33.8 billion into crypto and blockchain-related startups through the end of August, according to data from the crypto research firm Messari. That partial-year spending has already exceeded the $31.6 billion raised by crypto firms in all of 2021.
Crypto-focused venture funds are sitting on mountains of cash they raised before the market downturn. Earlier this year Andreessen Horowitz’s a16z crypto raised $4.5 billion for its fourth crypto fund, and the crypto exchange FTX launched its venture arm with a $2 billion fund.
The broader market decline and the subsequent failure of several once-buzzy crypto firms likely contributed to the late-summer...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...