Home
News
- An announcement regarding a couple of Billion venture capital has been made by FTX CEO, Sam Bankman Fried.
- FTX’s prime rival, Coinbase, has invested in some 200 projects through venture capital.
- A former partner at Lightspeed, Amy Wu, has been hired by the organization for leading the latest fund released by FTX.
FTX Ventures
The young Billionaire and the Chief Executing Officer of FTX, Sam Bankman Fried, have made an announcement that they will make an investment of $2 Billion in crypto projects, following the instance of prime competitor exchange, Coinbase as well as others.
FTX Ventures plans to make investments in startups working towards the healthcare, fintech, social, and gaming sectors, as per SBF. FTX, whose investors were valued at $25 Billion back in October, stated that investment could be made in the tradable assets, tokens, that are dispersed by the crypto projects to the users too, via the fund.
As per a blog post of FTX, the initial fund of $2 Billion will be a dynamic capital where the investment can be made in equities and/or tokens, at any stage and check size. Time horizons are measured in decades, the organization has no issue even if the users are anonymous, as they are not asking them to present themselves in front of the investment committee.
FTX collaborated with a cluster of investors to raise billions of dollars for investments in crypto startups. An Andreessen Horowitz partner, Katie Haun, got involved in discussions regarding raising $900 Million at minimum for a couple of crypto-asset funds in January, as per a report.
Some watchdogs of the crypto industry are concerned regarding intersecting parts played by the crypto exchanges, leading to scrutiny from the international authorities in the previous year.
SBF also owns a crypto trading organization called Alameda Research, and has invested in 95 projects since 2020 as per data. In contrast, FTX has invested in 19 projects so far, involving staking in Sky Mavis, developed by the Axie Infinity devs.
ALSO READ – ROBINHOOD CFO NOT STRATEGIZING PUTTING CASH INTO CRYPTO ASSETS
FTX prime contender in the United States, Coinbase, has invested in over 200 projects into crypto projects via its venture capital, said by the execs of the organization, shaping it as one of the most prominent investors in any industry.
Bahamas-based FTX had surfaced as one of the quickest growing crypto asset organizations since it came into action three years back, constructing a sought-after crypto exchange and a fresh market for the traders based in the United States.
Around 1700 deals for venture capital concentrated on the crypto sector, occurred the previous year, landing these protocols, startups, and projects around $25.1 Billion in funding. Numerous venture organizations, involving a16z and Paradigm, released venture funds in 2021.
The organization has brought Amy Wu, a partner at Lightspeed previously, and has offered to lead the fund and the latest business unit. As per Wu, focused and planned bets would be made by the fund into crypto organizations.
