The second quarter of 2023 has seen a resurgence in venture capital within the crypto sector. Several significant events are capturing investor and regulatory attention.
Ego Death Capital Targets Bitcoin Startups
Venture firm Ego Death Capital has announced a $100 million fund dedicated to backing Bitcoin startups, claiming BTC is "the only decentralized and secure base to build on." They are focusing on companies generating between $1 million to $3 million in annual revenue.
New Challenges for Robinhood in Tokenization
Robinhood's stock has seen a significant increase following the announcement of its blockchain aimed at providing over 200 assets to European investors. However, European regulators are closely examining the company’s “private equity tokens,” particularly those associated with OpenAI and SpaceX. Robinhood CEO Vlad Tenev has stated that these tokens do not technically represent equity in those companies but provide indirect access to investors.
CoreWeave Completes Acquisition of Core Scientific
CoreWeave has finalized its acquisition of Bitcoin miner Core Scientific, valued at $9 billion. This acquisition is expected to expand CoreWeave’s data processing capacity, focusing on high-performance computing. However, it's anticipated that CoreWeave will repurpose some of Core Scientific’s assets.
Investments in Bitcoin are continuing to grow amid regulatory inquiries and market fluctuations. In this dynamic environment, both startups and larger players are vying for their share.
