Web3 and Blockchain-ACUSED Investment Funds are stopping new investments, but $ 400 million is doing its best to support existing projects.
ABCDE’s co -founder and founder of Huobi Exchange said on April 19 that $ 400 million in funds will no longer invest in a new project or raise capital for the second stage of the fund.
However, JUN said that the fund will continue to “end support and end of existing projects” to ensure the company’s promise to entrepreneurs and liquidity providers (LPS).
Jun said, “My personal work focus will focus on the industrial synergy effect and the long -term value creation by gradually shifting from financial investment in the primary market to strategic investment leading and deep incubation.
The announcement has been raised nearly three months after the final investment of ABCDE’s Etherum Layer -2 (L2) solution, and then raised $ 22 million through the launch of Solana optimistic networks and Mainnet, COINTELEGRAPH reported on January 22.
Soon Mainnet claims that the average block time is 50 milliseconds compared to Solana’s 400mm seconds.
ABCDE is a $ 400 million investor with 28%of investments in BTC (Bitcoin) scaling technology, 16%in LSDFI infrastructure, L2S, rest and smart contract platform, and Cryptorank data.
ABCDE has invested more than $ 40 million in more than 30 projects over the past three years, and despite its current market environment, internal yields (IRR) said, “It is still the world’s best level.”
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New incubator brand Vernal announced
ABCDE’s fundraising was announced a month after the fund’s co -founder launched a new incubator brand Vernal.
The new incubator will announce the shareholder and incubation rules with the first investment in May.
Jun said that the decision to stop AbcDe’s fundraising was not made due to financial constraints or lack of funds, but due to the fundamental interest in the current development trajectory of the encryption industry.
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Jun added in the X POST on April 19:
“Many projects are very shortsighted and think only about how to be registered as soon as possible, and what’s left is often confused.”
“What’s more worrying is that some major funds are not only reflecting this, but also not only advertise ‘listed projects’ and short -term market value, but also don’t mention the value creation of the project itself.”
Cardano’s founder Charles Hoskinson urged the 4th -generation cryptocurrency project to compete with major centralized technology companies that enter the cryptocurrency industry by accepting more collaborative token mixes.
Hoskinson said on April 9 that the market structure is essentially hostile in the way we work in the cryptocurrency space, in the way we work in the cryptocurrency space, and in the way we work in the cryptocurrency space.
“I can’t build a global ecosystem in this way, and I can’t win this way,” he added. “Because there is a problem here.
https://www.youtube.com/watch?v=kqzhvt77xkw
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