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<p class="is-style-lead">Ant Group, the Chinese fintech giant, is reportedly set to divest its investment in A&amp;T Capital, marking a significant retreat from a $100 million venture central to its crypto strategy.</p> 
<p>This announcement represents a step back from a $100 million venture that had been a key component of its strategy in the volatile digital asset landscape, as sources familiar with the situation have disclosed.</p> 
<h2 class="wp-block-heading" id="at-s-crypto-investments">A&amp;T’s crypto investments</h2> 
<p>Since April 2021, A&amp;T has made notable investments into major crypto players, including Matrixport and Amber Group (the digital-asset lenders) and ConsenSys, the Ethereum software maker, which played a central role in the Ant Group’s entrance into the crypto space.</p> 
<p>Following the <a href="https://www.bloomberg.com/news/articles/2023-09-18/ant-to-pull-out-of-100-million-fund-in-retreat-from-crypto?embedded-checkout=true" target="_blank" rel="noopener noreferrer nofollow">announcement on Bloomberg</a>, the venture firm has not confirmed if it would continue to operate or seek out a new investor. That said, as of Monday afternoon, the website was said to return a timed-out error.</p> 
<p>While the decision follows trends in the market, it also comes when the venture has been dealing with operational changes. A&amp;T’s founding partner, Yu Jun, who formerly held an executive role at Ant Group, <a href="https://twitter.com/crypto/status/1640272795455180800" target="_blank" rel="noopener noreferrer nofollow">resigned earlier</a> in the year in March.&nbsp;</p> 
<p>The departure was announced alongside an investigation into his workplace conduct, as several women accused him of sexual harassment, including several employees at A&amp;T Capital.&nbsp;</p> 
<p> You might also like: <a href="https://crypto.news/alibabas-ant-group-unveils-blockchain-development-brand/" rel="noopener noreferrer nofollow"> Alibaba’s Ant Group unveils blockchain development brand </a> </p> 
<h2 class="wp-block-heading" id="crypto-venture-funding-is-at-its-lowest">Crypto venture funding is at its lowest</h2> 
<p>This announcement coincides with PitchBook data, highlighting that crypto venture funding is at its lowest point since 2020.</p> 
<p>As a result, other major players have also cut their crypto funds over the last few months. One of these notable announcements was Sequoia Capital, which made a 65% cut in what is said to be a <a href="https://economictimes.indiatimes.com/tech/funding/sequoia-capital-cuts-its-crypto-fund-by-over-65-in-funding-winter/articleshow/102225450.cms?from=mdr" target="_blank" rel="noopener noreferrer nofollow">funding winter</a>.</p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
 <div class="wp-block-embed__wrapper"> <iframe title="Are there any bright spots for crypto venture funds?" width="1020" height="574" src="https://www.youtube.com/embed/l9jOqWtMqM0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
 </div> 
</figure> 
<p>Although this report highlights a retreat from crypto, it is worth noting that it isn’t a complete pull-out.</p> 
<p>One week earlier, the firm announced the launch of ZAN to provide blockchain development products to the <a href="https://www.businesswire.com/news/home/20230907788903/en/Ant-Group-Digital-Technologies-Launches-ZAN-to-Provide-Blockchain-Application-Development-Products-and-Services-to-Web3-Community" target="_blank" rel="noopener noreferrer nofollow">web3 community</a>, suggesting interest in the industry remains.</p> 
<p> Read more: <a href="http://https://crypto.news/crypto-venture-firm-founder-says-banking-crisis-makes-crypto-bullish/" rel="noopener noreferrer nofollow"> Crypto venture firm founder says banking crisis makes crypto bullish </a> </p>

A&T Capital loses major financial backer in retreat from crypto

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