Company
Coinbase Ventures is the venture capital arm of Coinbase, investing in early-stage crypto, blockchain, and Web3 startups.
VVV hit a record $34.51 on September 21, putting Venice near $1.62bn against a $100m annualized run rate. That is about 16 times revenue on a platform whose token burn is paid for out of the same revenue.
Perspective Coverage
3 publishersReality
Kaiko's $110m was more than three-fifths of everything disclosed in crypto venture funding in the week to September 18. It came from the index provider whose crypto products already carry Kaiko's reference rates.
Reality
The OCC has conditionally approved Bastion Platforms National Trust Company to issue, custody and convert stablecoins on behalf of clients, a fee business housed inside a charter that bars deposits and FDIC cover.
Reality
The index house behind the S&P 500 led the investment that took Kaiko to $110 million in total funding. Subtract the three earlier rounds and the new money is about $28 million, going into a partner whose product had already shipped.
Perspective Coverage
4 publishersReality
A cross-chain firm that never earned enough to fund itself is closing on September 30, and the 303m tokens it will destroy return no cash to holders or to the $4.1mn of 2021 venture money behind it.
Reality
The Foundation bought out the locked allocations of seed investors who had shown they would sell, released everyone else's early, and proposes routing 95% of net revenue into buybacks. That trade rests on a revenue figure the Foundation has not published.
Reality
The $1 billion facility routes USDe reserves into overcollateralized institutional loans through a bankruptcy-remote vehicle. The structure, not the size, is the news.
Reality
Venture dollars slipped only 6.8% from June, but round count fell 28% to a 12-month low and unique institutional investors fell 31%. Excluding Crypto.com's cheque, investment was down 34%.
Reality