FTX collapse could bolster “further confidence” in the crypto economy
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While the crypto winter winds may still be blowing, venture capital firms still seem to be investing heavily in cryptocurrency. According to Jez Mohideen, co-founder and CEO of Laser Digital, the newly launched digital assets division of Asian giant Nomura Holdings, recent bear market-influenced events like the collapse of FTX could “inspire further confidence in the ecosystem.”
Laser Digital Ventures’ current portfolio includes cryptocurrency exchange Bullish, decentralized exchange protocol Orderly Network and hybrid custodian for institutional investor Komainu, among other companies working on structured products for decentralized finance (DeFi) and fixed income solutions. He explained that the company intends to invest in around 20 projects in 2023.
“There are more established companies that can enter the market and help control the industry. Stakeholders who understand regulation and the value of client aggregation, stability and execution are those who: “Mohideen, a longtime participant in the risk industry, former director at Barclays and partner at hedge fund Brevan Howard, stated.
Startups that offer solutions to institutional investors are one of Laser Digital’s main target markets for fundraising. This industry has been growing steadily lately. According to a Coinbase survey, 62% of institutional investors have increased their crypto investments year-over-year.
Solving actual problems will be crucial for crypto companies looking to raise funds despite the fall in bitcoin prices. According to Mohideen, Laser Digital’s investment premise is to focus on initiatives that are “new and have clear indicators of how they’re getting there.” He also explained:
“We want to help solve this bottleneck problem,” said the manager. “The lack of adequate infrastructure solutions has created a significant hurdle for crypto-enthusiastic institutions.” The company is particularly excited to work on infrastructure solutions for web3 that can accelerate institutional adoption of cryptocurrencies like DeFi.
“Platforms like Web3 and Metaverse have a lot of potential for growth over the next few years. Additionally, Web2 applications such as social media, streaming video and gaming can benefit greatly from the adoption of Web3 technology and governance.”
By the end of 2022, Nomura Holdings, one of Japan’s largest banks, is expected to have $470 billion in assets under management. The company last year announced intentions to create a cryptocurrency subsidiary focused on non-fungible token investments.
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FTX collapse may bolster “further confidence” in the crypto economy. Check all the news and articles from the latest business news updates.