Multicoin Capital Does Not Expand to Pure AI Projects, Focuses on Crypto Sector

Multicoin Capital's general partner Spencer Applebaum stated that the firm will not extend its investment scope to pure AI projects and will continue to focus on the crypto sector. Unlike other institutions such as Paradigm, Framework Ventures, and Haun Ventures, Multicoin believes its strength lies in crypto and pointed out that many investors are forcibly seeking a connection between crypto and AI. The $422 million venture capital fund raised by Multicoin in 2022 has been deployed slowly, primarily due to the decline in startup valuations following the FTX collapse. Currently, HYPE remains the largest holding in Multicoin's hedge fund, with the company's assets under management totaling $2.7 billion.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.