Wall Street Veteran Launches $ 1.5 Billion Crypto Fund, MELD ISPO Shines Spotlight on Cardano, December 2

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Crypto converted another Wall Street veteran this week after former Citi executive Matt Zhang launched a $ 1.5 billion digital asset fund. A new funding mechanism that allows users to access early-stage crypto startups has shed light on Cardano’s huge community. One of Latin America’s largest crypto exchanges has raised $ 50 million in private funding to expand its operations. 1inch Network has raised an additional $ 175 million from major crypto-venture investors to expand DeFi’s liquidity.

These are just a few of the biggest trading headlines of the week in the crypto world. Every Thursday, Cointelegraph’s Crypto Biz newsletter gives readers a snapshot of the activity behind blockchain and cryptocurrency, delivered right to their inbox. Below is a concise version of the Thursday edition of our newsletter.

Former Citi Banker Launches $ 1.5 Billion Crypto Fund

Matt Zhang left a 14-year career at Citigroup to launch Hivemind Capital Partners, a $ 1.5 billion multi-strategy crypto and blockchain fund. The fund is designed to invest in emerging blockchain projects, support institutional access to crypto, and actively trade digital assets.

MELD’s $ 1 billion ISPO shines the spotlight on Cardano

In October, DeFi MELD banking protocol entered into a $ 1 billion Initial Pooling Offer (ISPO), giving Cardano holders (ADA) the ability to exchange their ADA in exchange for MELD tokens. ISPO was a resounding success as over 40,000 participants wagered ADA 620 million. MELD CEO Ken Olling provided Cointelegraph with exclusive commentary.

2TM Raises $ 50 Million, Further Strengthening Unicorn Status

Crypto unicorn 2TM, which operates Mercado Bitcoin, one of Latin America’s largest digital asset exchanges, has entered into a private investment round of $ 50.3 million. 2TM plans to expand its services in the region as crypto adoption continues to grow in places like Brazil, Mexico and Argentina.

Amber Group leads 1inch Network’s $ 175 million Series B

Earlier this week, decentralized exchange aggregator 1inch Network closed a $ 175 million private funding round, with contributions from some of the largest crypto venture capitalists including Amber Group, VanEck, Jane Street, Fenbushi Capital, Alameda Research, Celsius and Nexo. The Series B was more than double the $ 70 million goal that 1 inch had originally predicted and further demonstrated the huge appetite for DeFi solutions.

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