Former Binance Executives Launch $100M Crypto Fund – TechCrunch

[{"selector":"#anim-5fb7a8c8-7c1b-4ca2-addd-ec753de60ac6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

On Thursday a group of former executives from Binance, one of the world’s largest cryptocurrency exchanges, have created a $100 million venture fund

[{"selector":"#anim-08f3b34a-f152-4be2-9de6-f9ac5f4b99fc [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(8.905210596088558%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The fund aims to spur the adoption of cryptocurrency in markets including Africa and Latin America

[{"selector":"#anim-43d6951f-e195-4b66-8908-32db17d4bde2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(10.787375243027745%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Zhang was responsible for a number of acquisitions and strategic investments including FTX, Multicoin Capital, and Certik

[{"selector":"#anim-c4b2998f-b69b-47fb-9547-af2e9623a84b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

“More and more VCs are looking for ways to invest in crypto projects,” Zhang said

[{"selector":"#anim-b953993c-f3f0-4f71-b6f0-887091e2c67a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Noting that market downturns provide investors looking to deploy capital into the space with clarity on which bets to make

[{"selector":"#anim-dc9fa449-3fd8-41cc-8312-02c26fb529e4 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Wei Zhou, the former CFO of Binance, will serve as a strategic advisor and investor at OFR, and its venture arm will be backed by partner Jiang Xin

[{"selector":"#anim-0630e201-2173-4dfc-a803-f3a4d2bee80f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Since [the fund] is newly started, we can find cheaper and more reasonable valuations during the market downturn

[{"selector":"#anim-0b568a0d-04f7-4506-bab1-7dd51448b1e9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] watch more