Cake DeFi, Singapore-based decentralized finance (DeFi) services provider, has announced the establishment of a $100 million venture arm focused on Web3, gaming, nonfungible tokens (NFT), and other crypto initiatives.
According to Cake DeFi, the venture firm “will be focused on investing in tech startups across Web3, the metaverse, the NFT space, gaming, esports and fintech spaces.”
Cake DeFi co-founders Dr. Julian Hosp, CEO, and U-Zyn Chua, CTO, lead CDV. Dr. Hosp is a seasoned blockchain entrepreneur who is widely considered a top influencer in the crypto and blockchain field, having over one million followers across all of his platforms. By 2025, he expects a billion people to be aware of and understand blockchain technology. U-Zyn has been designing and developing decentralized systems for over a decade as a blockchain engineer, enthusiast, and investor. Cake DeFi was founded by them with the goal of being the world’s top investment platform for DeFi and other up-and-coming alternative assets, based in Singapore.
Besides the investment of the firm, the announcement stated that “Portfolio companies have the opportunity to access numerous Cake products, connections, users, resources, and expertise within the global blockchain industry.”
According to a recent analysis from accounting firm KPMG, Singapore’s crypto-related investments increased by 10x last year, from $110 million in 2020 to $1.48 billion in 2021.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
CoinCu News
Participants can win a share of the US$5,000 of USDC prize pool simply by margin trading…
Get ready for the ultimate AI event of the year at the RenAIssance: Real Not-Bluffing…
A LayerZero critical vulnerability is being suspected by users, causing CEO Bryan Pellegrino to speak…
Polymarket punters now estimate a 44% chance Joe Biden presidential campaign will end before November.
Pepecoin (PEPE) has long been a trailblazer in the meme cryptocurrency space, leveraging the viral…
This guide explores 4 altcoins guaranteed to give you the easiest 100x of your life:…
This website uses cookies.