The Singapore-based Crypto.com hired Jon Russell (ex-TechChurch and The Ken reporter) as their general partner in Asia. They hope to further expand Fund with this latest development.
Crypto.com’s $200 million Web 3 fund came into existence in March 2012. On Monday, plans to grow via the venture arm, which invests in Series A stages of project at seed or crypto startups, was evident.
Russell revealed in an interview that Russell believes the fund will double its size. He said this during a conversation. It is expected to be released within a few days.
Crypto.com is still hiring GP’s, but with the help of Russell, the fund’s acknowledgment will extend to that Asia-based project. The fund is currently managed by Bobby Bao (Co-Founder of Crypto.com).
Jon Russell: Things to Know
Jon Russell, a Uk citizen, is located in Bangkok. Since 2008, he has been living in Thailand. Jon Russell moved to Thailand in 2008 and has been a TechChurch reporter since 2014. You will find the most important names of India, China, Southeast Asia, etc.
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This changed people’s lives across Asia. His knowledge in crypto and tech is exactly why Crypto.com hired him to be one of their general partners in Asia.
Crypto.com Expands in Asia
The Capital prior investment of Crypto.com comprises liquidity provider Woo Network and the first fractional-algorithmic stablecoin protocol Frax Finance.
No matter the bear market, VCs will allocate stock to the ecosystem. Sino Global Capital is now open to investors outside of China through a fund with $200 million and FTX, which will result in a investment of $2 billion.
Crypto.com became part of the largest and most efficient digital asset transfer network available for institutions on June 17th, 2021.
Crypto.com is a helper that reaches more than 400 institutions and allows them to grow their trading volumes as well. DBS Bank in Singapore, which is one of the biggest banks, has also opened a Crypto Trading Desk.
And recently, a majority stake in Thai cryptocurrency exchange Bitkub was amassed by Siam Commercial Bank (SCB), Thailand’s bank.
Mukaya Tai, Innovation Officer and SCB10x Chief Venture declared that Mukaya Tai foresees the world where DeFi protocols will interpose banks. In Asia, there is a growing institutional desire for digital assets.
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Crypto.com has generated approximately 2 million transactions, USD 1 billion TVL, and highlighted projects such as VVS Finance. Crypto.com also inspired developers to use Cronos through the Cronos Bounty programme. The Hackathon will be the most rewarding and it will pay USD 1,337 13,133.7.
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