Hong Kong Fund To Raise $100,000,000 To Support Crypto Start Ups

It’s been revealed the fact that there is a new Hong Kong-based fund that is raising money to support early-stage and developing ventures in the crypto space. Check out the latest reports about this below.

Accoridng to the latest reports, it seems that Bloomberg reports that the ProDigital Future Fund has already secured at least $30 million in funding commitments and aims to raise a total of $100 million by the end of the year to invest in startups.

Accoridng to the info coming from the Daily Hodl, it seems that the fund is particularly interested in tech companies with connections to China that are establishing their presence in Web3.

“To date, ProDigital Future Fund already funded six crypto-related projects, which include Hong Kong-based metaverse firm GigaSpace and Australia-based digital sports league operator One Future Football.”

Check out the original post in order to learn more details about this.

ARK Invest’s Cathie Wood says the Biden Administration’s abrupt escalation against the crypto industry will have consequences at the ballot box.

During a new interview with economist Arthur Laffer, Wood says there is no doubt that the approximately 50 million Americans who own Bitcoin and crypto assets are closely watching recent moves from the White House.

Wood says the administration’s actions and the language in a new economic report suggest President Biden fears crypto. More than that, it does not support American businesses involved in the industry.

“I don’t know if you saw the President’s annual economic report. It came out a couple of days ago and it went after crypto. Big time.”

She also said the following:

“They saw no role for [crypto]. Well, it has to be somewhat threatening [for the report to be so negative]…

I honestly think – and we’re seeing with young people especially – this is going to become a national election issue.”