After former Citi executive Matt Zhang, cryptocurrency transformed another Wall Street veteran this week Launched a USD 1.5 billion digital asset fund. A sort of New financing mechanism Allowing users to access early-stage crypto startups has brought Cardano’s huge community a lot of attention.One of the largest cryptocurrency exchanges in Latin America Raised $50 million in private funds To expand its business. 1inch Network raised another US$175 million From a leading crypto venture capitalist to expanding DeFi liquidity.
These are just the biggest business headlines this week in the crypto space. Every Thursday, Cointelegraph’s Crypto Biz newsletter will provide readers with the pulse of the business behind blockchain and cryptocurrency and send it directly to their inbox. Below is a condensed version of the Thursday edition of our newsletter.
Former Citi banker launches $1.5B crypto fund
Matt Zhang left his 14-year career at Citigroup and launched Hivemind Capital Partners, a $1.5 billion multi-strategy crypto and blockchain fund. The fund aims to invest in emerging blockchain projects, support institutions to acquire cryptocurrencies and actively trade digital assets.
MELD’s $1B ISPO becomes the focus of Cardano
In October, the DeFi Banking Agreement MELD completed an initial equity pool offering (ISPO) of US$1 billion, enabling Cardano (Have) Holders can pledge their ADA in exchange for MELD tokens. ISPO was a huge success, with more than 40,000 participants betting on 620 million ADA. MELD CEO Ken Olling provided Cointelegraph with an exclusive comment.
2TM raised US$50 million to further consolidate its position as a unicorn
Crypto Unicorn 2TM, which runs Mercado Bitcoin, one of the largest digital asset exchanges in Latin America, has completed a private investment of $50.3 million. As the adoption rate of cryptocurrencies in Brazil, Mexico, and Argentina continues to grow, 2TM plans to expand its services in the region.
Amber Group leads 1inch Network’s US$175 million Series B financing
Earlier this week, 1inch Network, a decentralized exchange aggregator, completed a round of $175 million in private financing, funded by some of the largest cryptocurrency investors, including Amber Group, VanEck, Jane Street, Fenbushi Capital, Alameda Research, Celsius and Nexo. The B series is more than twice 1inch’s original planned goal of $70 million, and further proves the huge demand for DeFi solutions.