Crypto VC is again with a vengeance

You’ve little question heard the expression, observe the moneyWell, in the event you do this within the enterprise capital world, you’ll be led on to crypto, blockchain and digital property. After a modest summertime lull in enterprise financing, this week noticed the announcement of two huge raises price a mixed $500 million. That’s $500 million VCs are allocating to crypto-focused startups on the intersection of Web3, blockchain infrastructure and decentralized communities. 

In the event you suppose funding offers have stopped amid the bear market, suppose once more. I discussed “summertime lull” on the outset, however that doesn’t imply funding has stopped. There are such a lot of offers, actually, that I’ve needed to begin a separate sequence referred to as VC Roundup simply to maintain monitor. Data from Cointelegraph Research also shows that Q2 funding deals were just as big as the first quarter in dollar terms.

This week’s Crypto Biz looks at the latest funding news from the world of blockchain.

CoinFund launches $300M early-stage Web3 venture fund

Venture firm CoinFund has launched a new investment fund devoted to all things crypto. The newly launched CoinFund Ventures 1 will invest $300 million into early-stage companies innovating in the blockchain arena, with a key focus on Web3. CoinFund raised $83 million during the bull market in 2021. Its latest deal is more than three times that amount — and it was raised during the depths of crypto winter. That tells us venture capitalists probably believe the market has already bottomed or is in the process of doing so.

Blockchain VC Shima Capital debuts with $200M Web3 fund

Shima Capital, a venture firm founded by hedge fund investor Yida Gao, has debuted with a $200 million investment fund targeting startups from across the blockchain ecosystem. Shima Capital Fund I, which is backed by Dragonfly Capital, Animoca Brands and OKX, is set to deploy up to $2 million in pre-seed funding to promising startups and innovators. Some of the most promising themes Shima has identified include decentralized identity, decentralized social media, decentralized autonomous organizations (DAOs) and blockchain gaming, among others.

Samsung revealed as most lively investor in blockchain since September

It’s not simply crypto-focused VCs which can be invested in blockchain; a number of the world’s largest corporations are additionally backing startups on the intersection of Web3 gaming, Bitcoin (BTC) infrastructure options and digital asset custody. In accordance with Blockdata, Samsung is probably the most lively participant on this area, having invested in 13 blockchain corporations already. Google-parent Alphabet has made strategic investments in Fireblocks, Dapper Labs, Voltage and Digital Forex Group. In the meantime, Morgan Stanley has thrown its weight behind Figment and New York Digital Funding Group (NYDIG). And folks nonetheless suppose this blockchain stuff is only a fad?

Former JPMorgan, Barclays execs on why crypto jobs enticing even in bear market

There’s no stopping crypto — not even a bear market. Executives from conventional finance are nonetheless being lured into careers in digital property regardless of the huge FUD marketing campaign in opposition to the business. Living proof: European crypto exchange-traded fund supplier 21Shares not too long ago introduced three important hires as a part of its growth into France, Germany and the United Arab Emirates. Two of the hires have been former executives from JPMorgan and Barclays — you’ll wish to examine why they’re so excited to hitch an business that has misplaced two-thirds of its market capitalization over the previous 12 months.

Don’t miss it! Is Bitcoin a greater inflation hedge than gold?

Bitcoin has been described by many as “digital gold,” forging a brand new frontier in inflation hedge economics. If inflation is your main concern, are you higher off holding Bitcoin or a valuable metallic with a 5,000-year monitor document? Cointelegraph sat down with Swan Bitcoin managing director Steven Lubka to debate whether or not BTC’s inflation-hedge thesis nonetheless has benefit. You may watch the total interview beneath.

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