New Crypto.Com Capitals Partner Calls It Web3’s Most Ambitious Company

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The ever-expanding world of crypto continues to drive more businesses to make the space more accessible and advanced, and Crypto.com is helping with that with the help of its newest partner.

Welcome to Crypto.com

Jon Russel, as a new partner in the investment arm of Crypto.com Capital. After working as a tech journalist for companies such as TechCrunch and The Ken, Russel intends to shift his focus to web3 and aim to reach as many people as possible.

When announcing his decision to partner with the company, Russel explained that he believes Crypto.com is the most ambitious company in Web3. This is the exact reason why he joined Crypto.com especially despite having multiple opportunities before.

He further stated:

The Crypto.com Capital fund brings a very unique benefit to help the world’s top web3 founders and startups realize their potential and I look forward to playing my part. (sic)

This is true for many reasons as Crypto.com Capital has managed to provide investment to over 20 different start-ups in less than a year since its launch in March 2021.

Investments that have ranged between $1 million and $10 million in Series A stages as well as $1 million for seed rounds have helped companies like Efinity, Genies, Matter Labs and many more to leverage this investment to further the cause of web3.

Efinity even won 6th place at the Polkadot Parachain auction in December.

An interesting observation was that Crypto.com Capitals’ focus on advancing web3 is not limited to decentralized finance (DeFi). The 20 projects he has invested in include metaverse, blockchain gaming, and NFT ventures among DeFi.

But Crypto.com isn’t the only company looking to make the most of this developing market. Just recently, even FTX announced its new venture capital arm FTX Ventures which is launched with $2 billion in funds and plans to invest in similar Web3 startups.

The story continues

How does the CRO react to this?

At the time of this report, Crypto.com’s CRO token showed no immediate reaction to this news. Don’t expect a sudden spike in the near future as the current drop may take some time to subside given that the CRO is in an active compression release.

Going forward, $0.492 will continue to be a critical resistance, but continued support from investors and external factors may help CRO recover its 49% decline from its all-time high soon.

This article originally appeared on FX Empire

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