|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Web3 Market Maker DWF Labs Launches $20M Fund to Back Chinese Web3 Projects
Jul 04, 2024 at 05:35 pm
Web3 market maker and investor DWF Labs continues to initiate strategic investments, this time launching a $20 million fund for Chinese web3 projects and founders.
Web3 market maker and investor DWF Labs has announced the launch of a $20 million fund for Chinese Web3 projects and founders.
The initiative, called the Cloudbreak Fund, will help Web3 projects by giving them a lot of money and other resources to help them grow.
Andrei Grachev, managing partner at DWF Labs, said that the company has been working in Chinese-speaking regions since 2018. He said that projects in these areas have grown "tremendously" in recent months and that the new fund will help them "reach their full potential."
Gachev also said that Cloubreak is starting at the same time as a downturn in the market, which will "reinvigorate projects" by making them more able and willing to "continue building."
The fund will put a lot of money into different sectors, like Layer-1/Layer-2, memecoins, derivatives, Social Finance (SocialFi), gaming finance (GameFi), and AI projects.
Projects in these sectors are being asked to apply for the fund.
The market maker has a good history of making investments to help Web3 grow.
The company recently led a $5 million investment round in the Milady meme coin project. DropsTab, a platform for cryptocurrency information, was backed by DWF Labs in May.
It has also helped well-known blockchain networks like the Telegram Open Network (TON) and, most recently, given money to integrate cryptocurrency custodian Fireblocks.
In the recent announcement, DWF Labs said that it has a partner network of over 700 projects. It was also named the best liquidity provider by crypto exchange Bybit in 2024.
The company now thinks it can help projects that work with asset tokenization very well.
Even though DWF Labs has been in the investment world for a long time, it recently became the center of a fight with Binance, a crypto exchange.
The investigative team of the crypto exchange said in May that DWF Labs was involved in market manipulation. The complaint said that the market maker made the trading volume on some exchanges look bigger than it really was.
DWF Labs said that the claims were not true and that they had no basis.
But this wasn't the only time DWF got in trouble. Nay, a crypto commentator, said in April 2023 that the market maker sold $65 million worth of tokens from projects it had invested in.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- SUI, XRP, and JBOLT Are This Week's Top Crypto Gainers: Here's Why
- Sep 21, 2024 at 05:20 am
- Good news has returned to the crypto market, and in particular coins like Sui (SUI), Ripple (XRP), and JetBolt (JBOLT) are enjoying the high bullish momentum.
-
- Anthony Scaramucci Says He Is 'Working Alongside' Kamala Harris on Her Campaign's Crypto Policies
- Sep 21, 2024 at 05:20 am
- Despite taking the Democratic side in the 2024 U.S. Presidential election, digital asset entrepreneur Scaramucci will go down in history as the shortest-serving former White House Communications Director
-
- Ripple vs. SEC: The Clock Is Ticking as the Agency Weighs Its Next Move
- Sep 21, 2024 at 05:20 am
- The SEC must decide whether to appeal its high-stakes lawsuit against Ripple, a case that's been shaking up the cryptocurrency world for nearly four years.
-
- Shiba Inu (SHIB) Price Analysis 2024: Can It Outperform Pepe Unchained (PEPU)?
- Sep 21, 2024 at 05:00 am
- Shiba Inu (SHIB) is gaining attention for its potential to surge in value during the final quarter of the year. With bullish momentum building.
-
- NEAR Protocol (NEAR): Is This Just the Beginning of a More Sustained Rally?
- Sep 21, 2024 at 05:00 am
- NEAR Protocol [NEAR], one of the standout altcoins in the crypto space, has captured investor attention once again with a significant surge in both price and activity.
-
- Fractal Bitcoin: A New Sidechain Enters the Scaling Wars
- Sep 21, 2024 at 04:30 am
- Builders and technical members of the Bitcoin community are torn about Fractal Bitcoin, the latest sidechain to enter the scaling wars. Some call it a misleading affinity, while others are grateful it allows them to try out experimental scripts like OP_CAT.
-
- Bitcoin, Ether ETFs Show Positive Inflows as Reserves Climb
- Sep 21, 2024 at 04:30 am
- Leading the charge on Thursday, Ark Invest and 21shares' ARKB fund attracted a hefty $81.07 million. Fidelity's FBTC followed closely, reeling in $49.88 million.
-
- Iggy Azalea to Release Online Casino Motherland in Boost for MOTHER Token
- Sep 21, 2024 at 04:25 am
- The online casino and gaming platform will be released in November.
-
- Sky Prepares to Bring Its USDS Stablecoin to Solana via Wormhole
- Sep 21, 2024 at 04:25 am
- Sky, formerly known as MakerDAO, has announced the launch of its decentralized stablecoin USDS on the Solana blockchain via the Wormhole interoperability protocol.