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"The reason we didn’t go with a fund structure is because we don’t need any external funding to be able to build this business, both from a capital and management fee perspective," said Cheng. "It also allows us to finance investments with evergreen capital, which we believe is more valuable
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The decentralized finance (DeFi) ecosystem had quite an eventful week with several new developments and price action. The week started with DeFi “Godfather” Andre Cronje announcing his departure from most of his projects, leading to a massive drop in prices of projects that Cronje was associated with.CAKE DeFi launched a
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Singapore-based decentralized finance (DeFi) services firm Cake DeFi announced the launch of a $100 million venture arm dedicated to serving as accelerators for Web3, gaming, nonfungible tokens (NFT) and other crypto initiatives.The newly launched $100 million venture arm, Cake DeFi Ventures (CDV), will fund crypto startups that complement the company’s
Read MoreBinance, the world’s largest cryptocurrency exchange, is funding a major decentralized audio streaming service through its investment and incubation arm.According to an Oct. 23 announcement, Binance Labs led a $1.25 million extension round for Audius, a blockchain-enabled streaming service that connects music fans with artists.The latest investment round follows a
Read MoreOneConnect Financial, the blockchain and AI subsidiary of China’s top insurance company Ping An Insurance, has set the terms for its planned NYSE listing. Original Source
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