Former Citi Banker Launches $1.5 Billion Crypto Fund and Chooses Algorand as First Partner

Argentina, Buenos Aires, Micaela Cascallares

Published 4 years ago

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Former Citi Banker Launches $1.5 Billion Crypto Fund and Chooses Algorand as First Partner

Argentina, Buenos Aires, Micaela Cascallares,

Published 4 years ago

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A Wall Street veteran with over 14 years of experience has launched a new venture fund dedicated to cryptocurrency and blockchain startups, offering further evidence that smart money investors are turning to the emerging world of digital assets. .

On Monday, former Citi executive Matt Zhang introduced Hivemind Capital Partners, a $ 1.5 billion multi-strategy fund designed to drive promising crypto plays and "institutionalize crypto investment." The fund will prioritize projects focused on building crypto infrastructure, virtual worlds, and programmable money, and will also trade digital assets as part of its underlying strategy.

This is why the price of Algorand (ALGO) has just hit a new multi-year high

Hivemind's first technology partner is Algorand, a proof-of-stake protocol increasingly focused on building infrastructure for the global financial industry. Algorand is one of the top 20 blockchain projects, with its native ALGO token valued at $ 11.2 billion in total market capitalization, according to Coingecko.