<![CDATA[<figure class="image"><img src="https://cimg.co/news/125092/330472/ant-group-1.jpg" srcset="" width="" class="content-img" alt=""><figcaption>Source: Pexels</figcaption></figure>The Chinese fintech giant Ant Group is in the process of withdrawing its investment from the $100 million A&amp;T Capital fund that was set up to invest in offshore crypto projects, <a href="https://www.bloomberg.com/news/articles/2023-09-18/ant-to-pull-out-of-100-million-fund-in-retreat-from-crypto#xj4y7vzkg">Bloomberg reported</a> today.A&amp;T played a central role in Ant Group's foray into crypto space.A&amp;T Capital has invested in several crypto startups, including digital-asset lender Matrixport and Ethereum software maker ConsenSys.<h2 id="at-founding-partner-yu-jun-resigns">A&amp;T Founding Partner Yu Jun Resigns</h2>The decision to withdraw from A&amp;T Capital follows a series of developments within the venture.&nbsp;In particular, it comes in the wake of the resignation of A&amp;T's founding partner, Yu Jun, who was formerly an executive at Ant Group.&nbsp;The departure of Yu Jun coincided with an investigation into his conduct in the workplace as several women had <a href="https://twitter.com/WuBlockchain/status/1639430825287770113">accused the former head of OKX Investment of sexual harassment</a>, including his employees at A&amp;T Capital.A&amp;T Capital, which was established in April 2021 with the backing of Ant Group, was specifically designed to invest in offshore cryptocurrency projects.&nbsp;Over its brief existence, it has made investments in some of the most prominent startups in the crypto space.&nbsp;<h2 id="at-capitals-future-remains-uncertain">A&amp;T Capital&rsquo;s Future Remains Uncertain</h2>The fate of A&amp;T Capital remains uncertain as Ant Group moves to withdraw its investment.&nbsp;There are no clear indications as to whether the venture firm will continue to operate independently or if it will seek new investors. As of the time of reporting, the A&amp;T Capital website was inaccessible, displaying a timed-out error to users.Official statements from both Ant Group and Yu Jun have not been provided, as they have not responded to requests for comment on this matter. Similarly, a representative for A&amp;T Capital has not offered any comments on the situation.The decision to exit the crypto venture comes at a time when the cryptocurrency industry is experiencing fluctuations and challenges.&nbsp;Crypto venture funding saw a decline in the second quarter of the year, according to <a href="https://pitchbook.com/news/articles/VC-crypto-regulation">data from PitchBook</a>.&nbsp;This dip follows the virtual asset market turmoil of the previous year and occurs amidst a surge of interest in artificial intelligence technology.
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Ant Group Reportedly Plans Withdrawal from $100 Million Crypto Venture A&T Capital

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Cryptonews.com

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