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2021-11-03Avalanche Foundation Launches $200 Million Investment Fund Blizzard
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Today’s Cryptocurrency Headline
The Avalanche Foundation launched a $200 million investment fund called Blizzard. Initial investors in the fund include Avalanche Foundation, Ava Labs, Polychain Capital, Three Arrows Capital, Dragonfly Capital, CMS Holdings, Republic Capital, R/Crypto Fund, Collab+Currency, Lvna Capital, Finality Capital Partners. Blizzard Fund will mainly support the development of Avalanche ecosystem from DeFi, enterprise application, NFT and cultural application. Blizzard will also look at other emerging usage scenarios, such as secure token offerings, liquidity providers and autonomous identities. Blizzard will support Avalanche ecology’s projects in the form of equity investments, token purchases, and technical, business development, and ecosystem integration support.
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Recently, Federal Reserve Chairman Jerome Powell expressed support for calling for the establishment of a regulatory framework for stablecoins. U.S. Senator Toomey urged Biden not to expand the law to regulate stablecoins. In addition, the Director of the U.S. Consumer Financial Protection Bureau (CFPB) suggested that the U.S. Consumer Financial Protection Bureau (CFPB) will take relevant measures based on the stablecoin report. Bitcoin price is currently trading around $60,000, but the possibility of breaking below that support level has not been removed. Investors still need to manage their risks.