Popular Stories

Former Citi Top Trading Executive Launches Hivemind Capital

The cryptocurrency space has seen an influx of Wall Street talents in recent years as the industry continues to grow. An increasing number of institutional investors are entering the crypto space in a bid to fund some of the leading and exciting innovations in the sector.

Matt Zhang Launches a $1.5 Billion Crypto Fund

Matt Zhang, a former trading executive at Citi, announced the launch of his $1.5 billion cryptocurrency fund yesterday. The fund, named Hivemind Capital, is a multi-strategy venture designed to invest in the fast-growing cryptocurrency and blockchain ecosystem.

According to the press release, Hivemind will be headquartered in New York and will invest in crypto companies and trade digital assets. The fund will also enter the gaming space as nonfungible tokens (NFTs), and the metaverse will continue to grow in popularity and adoption.

Zhang pointed out that he created the fund because he believes blockchain technology is a paradigm shift, and the space is still in its early days. “Our mission is to provide start-to-finish capital and infrastructure solutions to visionary entrepreneurs and category-defining crypto projects,” said Matt Zhang, Founder and Managing Partner of Hivemind,” he added.

Hivemind said its first technology is Algorand, a proof-of-stake protocol designed to create infrastructure for the global financial sector. Algorand is one of the leading blockchain projects in the world, and its ALGO token is amongst the top 50 by market cap.

Zhang said, “We believe that Algorand is the preeminent blockchain protocol that allows institutional and corporate users to connect with the decentralized economy. With the explosive growth of the digital asset space, people tend to forget how early the crypto economy still is. We want to team up with partners who have the patience to build an enduring business.”

Hivemind said it is in talks with a number of other leading layer-1 networks and will announce partnerships over the coming months.

VC Funds are Entering the Crypto Space

The cryptocurrency market has seen numerous venture capital funds enter the space over the past few months. In June, Andreessen Horowitz launched Crypto Fund III, a $2.2-billion venture fund.

Paradigm also launched a $2.5 billion cryptocurrency fund earlier this month in a bid to invest in the crypto and metaverse space. The amount of capital cryptocurrency projects are attracting will keep increasing as the market grows bigger and adoption increases.

This article was originally posted on FX Empire

More From FXEMPIRE:

View Article Origin Here

Related Articles

Back to top button