- Crypto and blockchain startups raised $10 billion in venture capital during the second quarter.
- Ego Death Capital launched a $100 million fund targeting early-stage Bitcoin companies.
- Robinhood expanded its tokenization efforts, drawing attention from European regulators.
- CoreWeave acquired Core Scientific in an all-stock deal valued at $9 billion.
- Changpeng Zhao questioned a UAE Golden VISA-for-crypto announcement, which regulators later denied.
Crypto and blockchain firms raised $10 billion in venture capital during the second quarter of the year. Ego Death Capital, a venture capital firm, announced a $100 million fund focused solely on early-stage Bitcoin companies, aiming to support businesses as institutional interest in Bitcoin rises.
The new fund from Ego Death Capital has received backing from family offices and other investors. According to the firm, Bitcoin is “the only decentralized and secure base […] to build on.” The company will target Bitcoin startups earning between $1 million and $3 million in revenue each year. Institutional demand for Bitcoin is increasing, driven by US spot Bitcoin ETFs and more companies holding Bitcoin in their reserves. Dozens of firms have followed Strategy’s example by adding Bitcoin to their balance sheets, but some industry figures remain cautious, with analyst James Check from Glassnode warning it may not be a viable long-term approach for most companies.
Robinhood has pushed deeper into asset tokenization, proposing a blockchain offering over 200 U.S. stock and ETF assets to European investors. This move has helped its stock hit all-time highs, even as European authorities raise concerns about its “private equity tokens.” The Bank of Lithuania is seeking clarification after it was revealed that tokens linked to companies such as OpenAI do not provide true equity ownership. Robinhood CEO Vlad Tenev stated that these tokens offer indirect exposure, not actual ownership. Despite regulatory questions, Tenev said that private companies have shown interest in similar tokenization products.
Meanwhile, CoreWeave finalized its acquisition of Bitcoin miner Core Scientific through a $9 billion all-stock deal. CoreWeave plans to expand its data center operations, including high-performance computing (HPC) and Artificial Intelligence infrastructure. The company stated that the acquisition would provide access to 1.3 gigawatts (GW) of power, with an additional 1 GW+ for future growth. However, CoreWeave indicated it may divest from Bitcoin mining activities as it shifts toward other computing services.
Questions emerged over a recent announcement from The Open Network (TON), which said users could earn a 10-year UAE Golden Visa by staking $100,000 of TON coins and paying a $35,000 fee. Changpeng “CZ” Zhao expressed doubt about the program’s legitimacy, noting a lack of official confirmation. UAE regulators soon denied any connection between the announced program and official visa offerings. The TON Foundation later clarified that the proposal was “being developed independently” and was not endorsed by the government.
For more information on public and private company Bitcoin holdings, visit BitcoinTreasuries.NET. Changpeng Zhao’s comments can be viewed at his official X account.
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