Ethereum

April

Read

<div class="cryptonews"> 
 <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 <a rel="dofollow" title="retreat" href="https://thebittimes.com/tag/retreat.html">retreat</a> from a $100 million venture central to its <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> 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 announcement on Bloomberg, 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, resigned earlier 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> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Alibaba’s Ant Group unveils blockchain development brand 
 </div> 
 <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 <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> venture funding is at its lowest point since 2020.</p> 
 <p>As a result, other <a rel="dofollow" title="major" href="https://thebittimes.com/tag/major.html">major</a> players have also cut their <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> 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 funding winter.</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"> 
   <div class="rll-youtube-player" data-src="https://www.youtube.com/embed/l9jOqWtMqM0" data-id="l9jOqWtMqM0" data-query="feature=oembed"></div>
   <noscript>
    <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>
   </noscript> 
  </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 web3 community, suggesting interest in the industry remains.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Crypto venture firm founder says banking crisis makes crypto bullish 
 </div> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/a-t-capital-loses-major-financial-backer-in-retreat-from-crypto-tbt63121.html">https://thebittimes.com/a-t-capital-loses-major-financial-backer-in-retreat-from-crypto-tbt63121.html</a></p>

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

Table of Contents

TheBitTimes

Other articles published on Sep 18, 2023

Spacemesh’s members up 5X since July launch

XRP Nears 5 Million Holders: Key Insights Unveiled

Crypto Trader Starts Accumulating Little-Known Altcoin After 500% Price Surge

Xsolla Launches Mall, An Online Destination For Video Games

MSCI China Index Continues Losing Streak, Down 8% This Year

Deutsche Bank to secure crypto for institutions, TRX and DOMI may find support

Join our free newsletter for daily crypto updates!