USVs Fred Wilson doubles down on web3 investments despite regulations

USVs Fred Wilson doubles down on web3 investments despite regulations

Union Square Ventures plans to double down on web3 investing despite increasing regulatory pressure in the crypto industry, according to partner Fred Wilson, who encourages investors to invest in the cause of fear when faced with opposition.

Union Square Ventures, an early investor in Coinbase Crypto exchange, desires to in reality “double down” on Web 3.0 investing rather than retreat in the face of increasing regulatory pressure.

” And once they want to shut it down, I say double down,” Fred Wilson, partner at USV, told the fund’s limited partners earlier this coming week on a quarterly call. “The most powerful technologies send waves of fear through the establishment. And once you see that fear in their eyes, invest in the cause of that fear.”

United States regulatory authorities have increasingly cracked down on the cryptocurrency industry owing to recent high-profile collapses, including the FTX Trading Ltd exchange and the cryptocurrency lender Celsius Network LLC. In March, for example, Coinbase Crypto exchange received a warning from the United States Securities and Exchange Commission about a potential enforcement action. The increased scrutiny of the cryptocurrency industry in the United States has prompted corporations to explore international financial hubs, including Dubai, Singapore and Hong Kong.

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New York-based USV remains committed to keep backing Web 3.0 startups. The storied deal financial resources company invested in Coinbase Crypto exchange in 2013 as its 1st cryptocurrency bet. Over the years, the company has invested in over 25 Web 3.0 projects, including Uniswap, Polygon and Helium, reports by The Block Pro’s Deals Dashboard.

Although while USV remains determined, Wilson stated earlier this year that Web 3.0 investors would require “a very strong stomach and a very long time horizon” even as valuations are compelling within a bearish market. Regardless of the a year ago being challenging, USV raised $625 Million across two new funds to invest in both web2 and web3.


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