In a move that has sent shockwaves through the cryptocurrency industry, the hosts of the popular Bankless podcast have reportedly launched a $35 million venture fund. The fund, dubbed Bankless Ventures, is aimed at investing in early-stage blockchain projects and will be managed by the podcast’s hosts, David Hoffman and Ryan Adams.
The news comes as a surprise to many, as Hoffman and Adams have been vocal critics of venture capital in the past. In their podcast, they have often discussed the need for more decentralized funding models that don’t rely on traditional venture capital. However, with the launch of Bankless Ventures, they appear to have changed their tune.
In a statement, Hoffman and Adams said that they “believe that venture capital is an important part of the blockchain ecosystem and that Bankless Ventures can help bridge the gap between traditional venture capital and decentralized projects.” They went on to say that they are “committed to investing in projects that are building the future of finance and are focused on decentralization, privacy, and financial inclusion.”
The launch of Bankless Ventures is sure to be welcomed by many in the crypto industry. With more venture capital flowing into blockchain projects, it could help accelerate the development of new technologies and applications. It could also help to bring more legitimacy to the industry, as venture capital firms tend to be more conservative when it comes to investing in new technologies.
It remains to be seen how successful Bankless Ventures will be, but it’s clear that Hoffman and Adams are serious about their commitment to investing in blockchain projects. With their track record of success in the crypto space, it’s likely that Bankless Ventures will become a major player in the industry.
Source: Plato Data Intelligence: PlatoAiStream