Odaily News The asset valuations of several cryptocurrency venture capital firms such as Paradigm, Polychain Capital, Multicoin Capital, Haun Ventures and Blockchain Capital were all higher in 2023 than the previous year. Among them, Multicoin had the largest increase among the funds analyzed by the media, with its portfolio soaring 180%, from about $1.36 billion in 2022 to $3.81 billion in 2023, which may be affected by the development of the Solana ecosystem. In addition, the fund value of Polychain Capital, founded by former Coinbase employee Olaf Carlson-Wee, almost doubled from $2.61 billion in the previous year to $5.04 billion in 2023. Blockchain Capital announced in September 2023 that it had raised another $580 million for more cryptocurrency investments and said that the value of its assets under management had increased from nearly $1.74 billion to $2.36 billion. Other companies with smaller increases include Paradigm, whose fund is valued at more than $10 billion; Haun Ventures, whose assets are valued at more than $1.5 billion; and A16z, whose massive fund counts cryptocurrencies as one of its investments and is valued at $56 billion by the end of 2023. (DL News)

Odaily News According to Fortune magazine, the decentralized AI project Bittensor has received more than $200 million in venture capital. According to people familiar with the matter, Polychain, a venture capital company founded by early Coinbase employee Olaf Carlson-Wee, was incubated in 2019. has acquired Bittensor and holds approximately US$200 million in Bittensor tokens TAO. In addition, according to another person familiar with the matter, Dao5, an investment fund founded by Polychain alumnus Tekin Salimi, holds TAO worth $50 million and is also an early supporter of the Bittensor ecosystem. Digital Money Group is another backer of Bittensor and holds TAO worth about $100 million. A DCG spokesperson declined to comment.

Odaily News Encryption venture capital institution Polychain Capital issued a statement on the Polychain reminds users not to interact with Carlson-Wee’s account until further notice.