Protagonist Raises $100 Million to Invest in Early Crypto Startups
Protagonist – a venture capital firm that supports entities in the digital asset industry – launched a $100 million fund that will be distributed to early-stage crypto companies. The initiative was established by the firm’s Co-Founders – George Bousis, Dylan Macalinao, and Harry Hurst.
Bear Markets Create Legends
In a recent interview for Tech Crunch, the head of Protagonist – George Bousis – explained that the multimillion fund will be invested in emerging gaming companies and blockchain startups. A part of the financing will also aid infrastructure projects in the crypto ecosystem.
“It’s really about investing in founders building amazing things,” the executive stated.
He classified cryptocurrencies, blockchain technology, and Decentralized Finance (DeFi) as the future since they create a bridge between digital and physical assets without individuals even realizing that:
“I think that’s where the future is headed, a world where human behavior and experience doesn’t change but should only improve.”
Subsequently, Bousis touched upon the ongoing crypto winter that reigns across the space. In his view, such a crisis is the perfect time when people should start investing and gain profits in the long run:
“This is where legends are born, and you can really make a name for yourself… we think this is where the real builders and investors are going to thrive.”
Based in Miami, Protagonist was initially called Ship Capital but rebranded earlier this year. It is worth noting that two of its Co-Founders – the Macalinao brothers – have rich experience in the crypto field, working as developers for Solana.
Who Else Pushes Forwards Amidst the Crash?
Another company that plans to expand its operations in the crypto universe despite the current adverse conditions is the Korean fintech giant – Dunamu. The firm, which launched Upbit (South Korea’s leading digital asset exchange), intends to invest around $380 million in the next five years and create approximately 10,000 new job positions.
“Dunamu will collaborate to strengthening national industrial competitiveness by actively investing in new future growth industries such as blockchain and creating jobs,” CEO Sirgoo Lee said.
Speaking of such expansion ambitions, it is worth mentioning Binance, too. The CEO of the world’s largest crypto platform – Changpeng Zhao – assured the company has a “very healthy war chest,” which allows it to hire more people.
Contrary to Binance, rival exchanges such as Coinbase, CryptoCom, and Bybit dismissed a chunk of their total workforce during the past few weeks.Source