#venture capital

Brian Quintenz, Head of Policy at a16z Crypto—the digital assets division of venture capital giant Andreessen Horowitz—has emerged as a leading candidate for the role of Chair at the U.S. Commodity Futures Trading Commission (CFTC).

“State of Crypto 2024” report by the venture capital a16z Crypto reveals all-time highs in crypto activity, improvements to blockchain networks, and progress in regulatory discussions.

American company Morgan Creek Digital plans to raise $500 million for its new Web3 Venture Capital Fund, which will focus on artificial intelligence, blockchain technologies, chip manufacturing, and data processing. This initiative is part of the firm’s strategy to expand its presence in Europe, Africa, and other regions, building on its already managed assets of over $440 million.

American spot Bitcoin ETFs are set to become accessible to Indian users through the Mudrex cryptocurrency investment platform, backed by the venture capital fund Y Combinator. Initially, only the four most popular ETFs from BlackRock, Fidelity, Franklin Templeton, and Vanguard will be offered for sale.

Hack VC, a U.S.-based venture capital firm, has successfully amassed $150 million for investments in digital asset-related projects. The company is setting its sights on early-stage startups, with a portion of its team already operating from its New York base.

Several leading venture capital companies such as Temasek, Sequoia Capital, and Softbank, are now facing legal challenges over alleged complicity in FTX fraud. The claimants in the lawsuit accuse the investors of using their power and financial resources to support the exchange's activities, despite numerous legal violations and misappropriation of customer funds by FTX. For instance, before the eventual bankruptcy of the exchange, Temasek affirmed that their rigorous eight-month scrutiny of financial aspects and compliance standards yielded no troubling findings.

BitMEX co-founder Arthur Hayes has published a thought-provoking essay, The Cure, in which he critiques the current trajectory of the crypto industry. He highlights how venture capital has steered the sector away from its decentralized origins and proposes a solution: bringing back the ICO model.

From September 23 to 29, cryptocurrency startups and projects raised $236 million in investments. Which sectors are driving the success of these crypto startups, and where did venture capitalists invest a quarter of a billion dollars?

Venture capital firm Founders Fund, co-founded by Peter Thiel, has invested in the cryptocurrency prediction market platform Polymarket, which allows users to place bets on various events, including U.S. presidential elections. The project has raised a total of $70 million, with even Vitalik Buterin joining in as one of the investors.

SV Angel, a venture capital fund, has rallied companies such as OpenAI and Microsoft to endorse an open letter urging the ethical development of artificial intelligence for the greater good of humanity. OpenAI's CEO, Sam Altman, praised the initiative and signed it on behalf of the company.

Folius Ventures, a venture capital company, has recently invested in the gaming studio Sleepless AI, renowned for its innovative blend of blockchain and artificial intelligence in gaming. The studio's development team is keenly focused on crafting immersive game experiences enhanced by AI companions.

The venture capital fund has reduced its funding for crypto projects from $585 million to $200 million. Moreover, it's halved investments aimed at backing individual investors. "We made these changes to sharpen our focus on seed-stage opportunities and to provide liquidity to our limited partners," commented representatives from Sequoia Capital.