{"id":30179,"date":"2022-06-17T05:16:54","date_gmt":"2022-06-17T09:16:54","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=30179"},"modified":"2022-06-17T05:17:07","modified_gmt":"2022-06-17T09:17:07","slug":"huobi-partners-with-bman-to-launch-400-million-fund-for-crypto-investment","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/huobi-partners-with-bman-to-launch-400-million-fund-for-crypto-investment\/","title":{"rendered":"Huobi Partners With BMAN To Launch $400 Million Fund For Crypto Investment"},"content":{"rendered":"\n
The fund launching between Huobi<\/a> and BMAN comes after the recent collapse of the crypto market, even as BMAN expects the crypto to grow to 1 billion users.<\/h5>\n\n\n\n
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Huobi co-founder Du Jun and Chinese Web3 investor “BMAN” Lee announced the formation of a new $400 million fund to invest in cryptocurrency ventures on Friday.<\/p>\n\n\n\n

ABCDE Capital, according\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> to BMAN in a Twitter thread, would strive to help between 10 and 20 CEOs per year. It will largely focus on blockchain infrastructure, open finance, and digital apps with broad adoption potential.<\/p>\n\n\n\n

The debut coincides with one of the worst bear markets in crypto history, with Bitcoin<\/a> and Ethereum<\/a> trading well below 50% of their respective high.<\/p>\n\n\n\n

However, it follows a similar effort by venture capitalist Andreessen Horowitz to benefit on the crash's cheap values. The corporation launched a $4.5 billion fund last month.<\/p>\n\n\n\n

BMAN, who co-founded Huobi Global with co-founder Du Jun, predicted that cryptocurrency would draw at least a billion users by the end of its next big cycle.<\/p>\n\n\n\n

ABCDE, which stands for A Blockchain-Centric Development Ecosystem, will support its wards by using resources from past enterprises by BMAN and Jun. According to BMAN:<\/p>\n\n\n\n

“We believe that in the next cycle, crypto will reach 1 billion users, and we will continue to build as always.”<\/p><\/blockquote><\/figure>\n\n\n\n

Jun and BMAN are both established Web3<\/a> players with a number of other projects under their belts.<\/p>\n\n\n\n

However, while BMAN remains bullish on the crypto sector, a recent drop in values has soured investor enthusiasm.<\/p>\n\n\n\n

The collapse of a high-profile project like Terra has also raised scrutiny of cryptocurrency, with some regulators attempting to impose severe limits on the space.<\/p>\n\n\n\n

Recent turbulence created by the impending insolvency of lender Celsius and hedge firm Three Arrows Capital is also harming sentiment. The collapse of the two would have far-reaching ramifications for the cryptocurrency economy.<\/p>\n\n\n\n

With the Federal Reserve hiking interest rates and inflation at a 40-year high, crypto is in for a long winter.<\/p>\n","protected":false},"excerpt":{"rendered":"

The fund launching between Huobi and BMAN comes after the recent collapse of the crypto market, even as BMAN expects the crypto to grow to 1 billion users. Huobi co-founder Du Jun and Chinese Web3 investor “BMAN” Lee announced the formation of a new $400 million fund to invest in cryptocurrency ventures on Friday. ABCDE […]<\/p>\n","protected":false},"author":33,"featured_media":30182,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-30179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/huobi-provided-2-1200x675-2.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/30179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=30179"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/30179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/30182"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=30179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=30179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=30179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}