The investment arm of Coinbase, the largest US cryptocurrency exchange, shared which altcoin market and technologies it invests in. It seems that companies are confident in the future of cryptocurrencies. Investing in more than 250 companies, the stock market allocates the largest share to decentralized finance. cryptocoin.com We provide details as…
Coinbase Ventures ramps up investment activity in 2021
Coinbase’s investment arm ramped up its investment activities in 2021, pouring more capital into crypto projects than ever before last year. According to the company’s new blog post, around 150 deals were completed last year, with a new deal being made every 2.5 days. The venture fund currently has investments in more than 250 companies and focuses specifically on two crypto sectors: decentralized finance (DeFi) and centralized finance (CeFi). Each category represents 23% of Coinbase Ventures’ total portfolio.
In terms of DeFi, the venture fund is bullish for multiple Blockchains:
We believe in the multi-chain future and although we remain most active in Ethereum’s DeFi ecosystem, we have also invested in Solana (Orca, Solend), Cosmos (Umee), Algorand (Folks), Polkadot (Acala, Moonbeam), NEAR.
Coinbase Ventures also supports projects aimed at making DeFi more secure:
While DeFi is making big strides in 2021, exploits of these emerging financial protocols have hampered the ecosystem, raising more than $10 billion. Better user protection is paramount, so Coinbase Ventures has supported DeFi insurance financial protocols including Neptune Mutual, Risk Harbor, Cozy Finance, and Nayms.
Focusing on these altcoin sectors
At the CeFi end of the spectrum, the venture fund has invested in traditional instruments for crypto such as individual retirement accounts (IRAs), exchange-traded funds (ETFs) and trusts, as well as local financial service providers. The following statements were included in the blog post:
We believe that crypto is global in nature and there is a need for localized platforms that act as a ramp across different regulatory, banking and infrastructure regimes. That’s why in 2021 we were active investors in crypto financial services providers everywhere from LatAm, Pan-Africa, MENA, South Asia, Europe and North America.
- According to Coinbase Ventures, a total of more than $30 billion in venture funds was invested in crypto and Web3 projects in 2021.
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