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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied VC firm Sequoia Capital has reportedly downsized its crypto fund from $585 million to $200 million amid a liquidity crunch and focus on smaller crypto players. A report by the Wall Street Journal on July 27 says
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Venture capital giant Sequoia Capital reportedly downsized its cryptocurrency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players.According to a July 27 Wall Street Journal report, the tech-focused VC firm told investors in March it would reduce its Sequoia Crypto
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Sequoia told investors earlier in the year that it would shrink the fund to reflect a changed market, with the crypto fund focusing more on backing newer startups following the crypto downturn that has reduced chances to invest in larger companies, according to the Journal. Source
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Led by supporters of the ousted leader Aung San Suu Kyi, the Spring Development Bank (SDB), will target Suu Kyi supporters as customers, including the Burmese diaspora, the spokesperson said. The NUG’s stance is that it is the legitimate sovereign and government of Myanmar, not the military junta. Original Source
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Matthew Graham, Sino Global’s founder and CEO, was a close associate of Sam Bankman-Fried during FTX’s rise. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Polychain Capital has successfully secured approximately $200 million in the first round of funding for its fourth crypto venture capital fund. A source familiar with the matter revealed that Polychain intends to reach a total fundraising goal
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"I personally bought about a quarter of the new Telegram bonds," said Pavel Durov, the CEO of the popular but not-yet-profitable platform. Source
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Polychain Capital was founded in 2016 by early Coinbase employee Olaf Carlson-Wee. The firm has about $2.6 billion in assets under management, Fortune said citing Pitchbook data. The extended crypto winter has put pressure on the crypto investment landscape for both startups and the venture capital firms that back them. Source
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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a
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