Galaxy

Bitcoin

Million

Ethena

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/galaxy-asset-management-raises-113-million-for-new-crypto-venture/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Galaxy Asset Management Raises $113 Million for New Crypto Venture</a> 
After hitting a low at the beginning of 2023, the <a href="https://en.coin-turk.com/coinshares-takes-a-new-step-in-america-providing-services-despite-legal-issues/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto market</a> normalized, and by March 2024, BTC reached its ATH. Although prices fell afterward, developments continued. Recently, Galaxy Asset Management made a significant announcement.
<h2 id="announcement-made">Announcement Made</h2>
Galaxy Asset Management announced raising $113 million for a new crypto venture. The new venture led by billionaire Michael Novogratz will focus on early-stage crypto projects, including cryptocurrency software, infrastructure, and financial applications.
According to Bloomberg, the new fund named Galaxy Ventures Fund I LP will initially invest in 30 companies, with a goal to raise $150 million by the end of 2025.
The $113 million amount is a significant financial indicator for institutions involved in crypto ventures and could pave the way for a major new crypto protocol.
Galaxy has previously invested in popular projects like Ethena and Monad.
<blockquote>
 Blockchain will be used in most global transactions within a few decades.
</blockquote>
Galaxy has been known for <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investing</a> in long-term crypto projects.
According to Mike Giampapa, a general partner at Galaxy who spoke to Bloomberg, blockchain <a href="https://newslinker.co/category/technology/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">technology</a> could play a crucial role in the future of global payment methods:
<blockquote>
 Our macro view is that blockchains will be used for most transactions… This is a one or two-decade transition period we are betting on.
</blockquote>
As part of Galaxy’s bet on the future of blockchain, the new fund will invest between $3 million and $5 million in each project.
<h2 id="what-is-bitcoin-s-price">What is Bitcoin’s Price?</h2>
During these developments, attention was also on Bitcoin’s price. As of the time of writing, Bitcoin is trading at $64,100, marking a 3.4% drop in the last 24 hours.
<img fetchpriority="high" decoding="async" class="aligncenter size-full wp-image-373790" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-usdt-kac-dolar-coin-turk-com.png" alt="" width="1524" height="80">
BTC’s market cap has fallen below $1.3 trillion, settling at $1.265 trillion, while its trading volume has dropped 12.9% to $35.1 billion.
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/galaxy-asset-management-raises-113-million-for-new-crypto-venture/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Galaxy Asset Management Raises $113 Million for New Crypto Venture</a></h5>
The post <a href="https://en.coin-turk.com/galaxy-asset-management-raises-113-million-for-new-crypto-venture/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Galaxy Asset Management Raises $113 Million for New Crypto Venture</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Galaxy Asset Management Raises $113 Million for New Crypto Venture

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