Coinbase’s senior manager Katherine Wu left the exchange to join Archetype, a cryptocurrency venture capital firm, Bloomberg has learned. At Coinbase, Wu co-hosted Coinbase’s podcast “Around the Block,” discussing about crypto trends. Wu wrote on Twitter, she will continue to support the “best founders in the crypto ecosystem.” She confirmed she was joining Archetype as a venture partner.
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Bloomberg notes that Coinbase’s venture capital arm “dramatically increased its investments,” making nearly 150 deals last year focused on Web3. Founder in 2013 by Ash Egan, the Tokey-based venture capital firm co-founded ConsenSys Ventures and other companies. The firm raised over $70 million for two funds, with the latest one announced in 2018, which gained a total of $60 million.
In September last year, Portal, a self-hosted Layer 2 wallet and cross-chain DEX on Bitcoin that allows peer-to-peer atomic cross-chain transactions with the speed and security of centralized exchanges, completed an $8.5 million funding round from a wide range of participants, including Coinbase Ventures. The project’s solution, which unlocks Bitcoin’s potential to actually decentralize finance, can be used in spot markets, options, p2p lending and borrowing.
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