CoinFund Expands to Asia
As the U.S. continues to pose regulatory challenges for the crypto industry, CoinFund, a New York-based cryptocurrency investment firm, has made a strategic move to expand its services in Asia. With the recent addition of Dmitry Lapidus as the Senior Liquid Analyst, the firm aims to focus more on the Asian market, attracting crypto entrepreneurs to the region. Hong Kong was specifically chosen for its debut in Asia due to its historical active participation in the crypto industry, making it an ideal hub for innovation and experimentation.
“If you look at the history of how this industry has evolved, there has always been very active participation from Hong Kong and China, in particular in the early days. So I almost view it as one of the more natural places for innovation and for experimentation.”
Dmitry Lapidus
CoinFund’s Expansion and Funding
Established in 2015, CoinFund has played a significant role in the crypto market, with over 120 investment deals supporting startups such as NEAR and LedgerX. Despite challenges, the firm remains committed to supporting the market, as evidenced by the $158 million raised for its new crypto fund, CoinFund Seed IV Fund, in July 2023. This marks a 90.4% increase from its previous fund. Additionally, Hivemind Capital Partners, another U.S.-based investment firm, has also expanded its reach to Hong Kong, indicating a growing interest in the Asian crypto market.
Hot Take: The Future of Crypto in Asia
The move of CoinFund and other U.S.-based crypto firms to Asia signifies a shift in the industry’s landscape, with Asia becoming a focal point for crypto innovation and investment. This development could potentially reshape the global crypto market, bringing new opportunities and challenges for the industry as a whole.
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