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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 <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> 
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 <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> 
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 <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> 
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<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

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