NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Crypto VC Firm Seeking $60M Amid Bitcoin Rout: Good Sign?

Nick Chong
Nick Chong
6 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

It goes without saying that 2018’s bear season savaged the broader crypto industry. Investors lost faith, Wall Street seemingly pulled out, and entire startups collapsed as financial pressure mounted, catalyzed by a collapse of the Bitcoin price. Yet, ambitious venture groups continue to seek financiers en-masse, as arguably, bear markets are an optimal time for “buying the dip.”

Pro-Bitcoin 1confirmation Seeking $60M For New Crypto Fund

On Thursday, the Wall Street Journal’s “Venture Capital” column revealed that San Francisco-headquartered 1confirmation, supposedly one of the first crypto-dedicated venture groups, is looking for prospective investors. Citing a person familiar with the matter, the WSJ noted that 1confirmation is looking for $60 million for its second fund — more than double the $27 million raised in the American firm’s inaugural round in December 2017.

With this newfangled $60 million fund, 1confirmation, which has holdings in recently-launched Veil, Coinbase, Bitcoin, Ethereum, among other vehicles, plans to back infantile crypto projects by purchasing equity or tokens.

Although 1confirmation seemingly has high hopes for its fund, as its first venture secured funding from Mark Cuban, Marc Andreessen, and Thiel Capital, 2018’s downturn likely killed faith in this nascent sector. Maybe 1confirmation can tap Cuban and crew again, but such ambitions may be too zealous.

However, there’s a likelihood that 1confirmation performed better than cynics may be thinking. Save for the American fund’s investment in physical cryptocurrencies and Basis, which recently folded due to mounting regulatory pressure, it can be presumed that there’s more to 1confirmation’s venture stakes than meets the eye.

Related Reading:  Sign Of The Times: Basis Shutters $133M Crypto Project Due To Regulation

1confirmation-backed Veil, a peer-to-peer prediction markets platform centered around Augur, went online just two days ago. Veil brings ease-of-use to Augur’s blockchain-based prediction markets, which struggled with adoption throughout 2018. As a result of the platform’s launch, REP, the native token of Augur’s ecosystem, has skyrocketed, posting a 70% gain in the past week.

Coinbase has also performed extremely well. As established by NewsBTC in previous reports, the San Francisco-based crypto startup was valued at a jaw-dropping $8 billion, allowing Coinbase to approach to start to approach the $13 billion price tag put on Pinterest. Interestingly, Coinbase is more valuable than Robinhood — another Silicon Valley startup focused on democratizing finance.

Besides funding and lofty valuations, Coinbase has also done well for itself fundamentally. Bloomberg, citing a document, once projected that the exchange was to make $1.3 billion in fiscal 2018, despite the dropping Bitcoin price. The firm has also continued to expand its offerings, making notable strides in Q4 of 2018.

And with that in mind, 1confirmation has likely posted healthy paper gains through its capital allocations towards Veil and Coinbase and its holdings in Bloxroute Labs, dYdX, Stellar-based security tokens platform Harbor, OpenSea, Nervos, and Vest.

Yet, a number of industry insiders are skeptical that crypto funds, in general, will garner any notable amounts of traction in 2019.

Analysts Skeptical Of Crypto Fund Prospects In 2019

Via a November edition of Off The Chain, a crypto-centric publication and media group, crypto crusader Anthony “Pomp” Pompliano remarked that crypto organizations “are in more trouble than people realize.” The Morgan Creek Digital Assets founder noted that he expects for crypto hedge funds, not too dissimilar from pure venture funds, to start “shutting down” due to certain clauses in legal documents.

He added that it could just be a matter of times before fund managers, who Pomp claimed were “young and inexperienced,” start to fold en bloc, falling victim to crypto winter, just like an array of leading industry upstarts.

Travis Scher, who heads crypto conglomerate Digital Currency Group’s in-house investment branch, echoed Pomp’s concerns in a recent interview with Business Insider. Scher told the outlet that while 2018’s first half saw a “tremendous amount of venture investments” enter the crypto realm, fund convictions are likely more bearish than bullish. Scher explained that hesitance by the way of financiers may make it much more difficult for organizations, whether venture groups or startups, to raise adequate funding.

The Digital Currency Group executive added:

“There is going to be a real struggle to raise new money. As there is going to be less money going into the crypto funds, there is going to be less money available for token projects.”

Featured Image from Shutterstock
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin Exchange Inflows Spike After $123,000 Peak – Signs Of Short-Term Cooling?

Bitcoin (BTC) surged to a new all-time high (ATH) of $123,218 earlier today, pushing its market cap beyond $2.4 trillion....

Ash Tiwari 5 hours ago
Bitcoin Price Breaks $100K

Bitcoin Price Retreats After Hitting ATH — Bulls Pause for Breath

Bitcoin price started a fresh increase above the $118,500 zone. BTC traded to a new high above $120,000 and recently...

Aayush Jindal 6 hours ago

【全新升級】Bitunix整合TradingView圖表系統 打造移動裝置專業加密交易 

隨著全球加密市場逐漸邁向成熟,交易者對於圖表分析與下單體驗的要求也日益提高。作為全球成長最快的加密衍生品平台之一,Bitunix 率先將TradingView完整整合進其Web與App端,實現跨裝置一...

Peter Chow 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Strategy Grabs Another $472M In Bitcoin—Even With Price At ATH

Keshav Verma 1 hour ago
memecoins, crypto, trump, memecoin

Top Crypto Exchanges Made $172 Million From TRUMP Memecoin Listing – Report

Rubmar Garcia 2 hours ago
Spot Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows

Spot Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows

Samuel Edyme 4 hours ago

Premium Sponsors

Press Releases

  • ARK Unveils the DeFAI Narrative: A New Chapter in On-Chain...

    4 minutes ago
  • Ove 3 kriptovalute ispod 1 dolara mogle bi pretvoriti 200 USD u milijune do 2027.

    Ove 3 kriptovalute ispod 1 dolara mogle bi pretvoriti 200...

    60 minutes ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    Aceste 3 monede sub 5 lei ar putea transforma o investiție...

    2 hours ago
  • How XRP Users Can Make $1 Million from $100 in No Time at...

    7 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 достъпни криптовалути с...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.