Cryptos Platform logo Cryptos Platform logo
Seeking Alpha 2022-08-15 14:33:21

Crypto venture capital firm Dragonfly acquires hedge fund MetaStable

Cryptocurrency-focused venture capital firm Dragonfly has purchased Metastable Capital, one of the oldest crypto hedge funds, for an undisclosed amount, according to a blog post dated Monday.The acquisition of Metastable, founded in 2014, enables Dragonfly to become "more expansive than it’s ever been," the blog read. It was an early investor in a variety of popular digital-asset projects like ethereum (ETH-USD), avalanche (AVAX-USD) and NEAR (NEAR-USD).Dragonfly, founded in 2018, also highlighted that it's pursuing a complete rebranding, including dropping the "Capital" from its name and adopting a new logo.The deal comes even as the crypto space undergoes a market downturn against a backdrop of tighter monetary policy and looming recession fears.In the first half of 2022, crypto venture capital funding fell 26%, but the number of deals rose.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.