Jon Russell Joins Digital assets firm Crypto.com Capital as Partner


Crypto.com Capital, the venture arm
of digital asset firm Crypto.com, reported on Monday, 17 January 2022 that it
is extending its $200 million Web 3 fund and the arrangement of Jon Russell,
one of the notable technology journalists, as the fund’s newest partner.
In March 2021, the digital trade
acquainted a $200 million asset with put resources into arising crypto
organizations. Crypto.com Capital currently expects to help the developing Web3
environment. In 2021, Crypto.com saw a flood sought after for its items because
of a leap in the reception of digital currencies. As indicated by the trade,
the organization currently has more than 10 million clients through items
including a Visa check card, exchanging trade, and NFT stage.
Russell has a solid presence in the
worldwide startup ecosystem. He went through almost 10 years as a tech
columnist and worked with a few driving news stages like TechCrunch, The Next
Web, and The Ken. He began expounding on the crypto market in 2014 and met
noticeable leaders on occasions across the world.
“I’ve had offers to move into crypto full-time
before but Crypto.com is the most ambitious company in web3,” said Russell.
“The Crypto.com Capital fund brings a very unique advantage to help the world’s
best web3 founders and startups to realize their potential, and I can’t wait to
play my part.”
Russell will assist with growing
the fund’s coverage to Asia-based projects. Russell stated that the fund is set
to be over two times its size and an announcement is expected within the
upcoming few days.
The fund is presently run by
Crypto.com co-founder Bobby Bao and is employing more GPs all over the world. Crypto.com
Capital's earlier investments incorporate Frax Finance and liquidity supplier
Woo Network.
Asia is rapidly fostering a large
institutional hunger for digital assets. Singapore's DBS Bank, one of the
area's biggest, works in a crypto exchanging work area. Thailand's Siam
Commercial Bank (SCB) as of late procured a greater part stake in the Thai cryptocurrency exchange Bitkub.
SCB 10x's Chief Venture and
Innovation Officer Mukaya Tai said that she imagines a reality where Defi protocols
have disintermediated banks.
Despite the bear market, VCs
actually will designate cash flow to the ecosystem. This comes closely
following FTX building up a $2 billion endeavor fund to put resources into
crypto new companies and Sino Global Capital opening to outside financial
backers through a $200 million fund.

Joyashree Dey
CBW - External Analyst
INDIA