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Blockchain-oriented VC firm Contango plans to use the seed round proceeds to facilitate increased Web3 adoption globally. Contango Digital Assets recently successfully concluded a $1.2 million seed round geared toward establishing Web3 infrastructure. To date, the leading blockchain venture capital firm has deployed more than $7 million globally to support Web3
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Contango says its offering will be the first of its kind on a decentralized exchange, or DEX. The firm said Thursday in a statement that it raised $4 million in a seed round in December, at a $45 million valuation, from an investment group led by ParaFi and including Coinbase
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“The futures-based ETF, if approved, will be an inefficient product,” Ilan Solot, global market strategist at Brown Brothers Harriman, told CoinDesk. “Because bitcoin’s futures curve is typically in contango, the fund is going to suffer from a negative rollover.” Original Source
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