Sequoia Capital Launches Crypto Fund

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Today’s Cryptocurrency Headline

Sequoia Capital is launching a $500-600 million crypto fund to invest in tokens. The investment scale of a single project is between 100,000 and 50 million US dollars and plans to actively manage tokens, from staking them to providing liquidity to participating in governance. It’s Sequoia’s first sector-specific fund since its inception in 1972 and one of the first sub-funds launched after the firm announced a major restructuring last October. Shaun Maguire, a partner at Sequoia Capital, said the firm is particularly interested in cross-chain interoperability and the GameFi project and sees multi-chain as the future. “We’re still in the absolute beginning. Crypto will be the biggest megatrend in the next 20 to 30 years,” Maguire said.

BingX’s Bitcoin Chart

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The G20 draft says discussions on central bank digital currencies will continue to assess the impact on the financial system, spillovers and capital flows. As global markets, stocks and altcoins corrected in response to the escalating tensions between Russia, the United States and Ukraine, BTC prices plunged to $40,500 today. If the bulls are unable to hold BTC above the $40,000 psychological level, we could see it dropping to $36,000.

 

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