Former top manager of CITI and Algorand launched a cryptocurrency fund for $1.5 billion – Bits Media

Former top manager of CITI Bank Matt Zhang, when partnership with the Algorand project, launched the fund in the amount $1.5 billion for startup development, working in the field of blockchain and cryptocurrencies.

Veteran Wall Street Matt Zhang (Matt Zhang) with 14 years of experience in the financial sector
reported On the launch of the Hivemind Capital Partners venture fund with headquarters in New York. Priority will be given to projects, focused on creating "programmable money", Development of metavselnaya, Blockchain -based virtual worlds and games, created according to the Play-to-Earn model ("Play and earn").

The first technological partner of the fund will be the Algorand project, focused on the creation of infrastructure for the international financial industry. According to Zhang, When choosing a partner, it was important for him, In order for the project to provide large companies and corporations to become part of a decentralized economy. Hivemind also negotiates with other leading cryptocurrency projects.

"We believe, that blockchain technology makes cardinal changes to any industry, Therefore, they intend to provide material assistance and infrastructure decisions for far -sighted entrepreneurs. Considering “gaps” in the traditional model of asset management, We create a special risk control platform from scratch, compliance with regulatory requirements and security ", - said the founder of Hivemind Matt Zhang.

Recall, that in June, the venture investment company Andreessen Horowitz launched a cryptocurrency fund in the amount $2.2 billion for the development of cryptocurrency startups. In October, the Binance trading platform also announced the creation of the fund in the amount $1 billion for educational programs and developing new Binance Smart Chain blockchain -based projects.