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Blockchain

Former Binance Labs Head Bill Qian Joins Cypher Capital as Chairman

Dubai-based cryptocurrency funding agency Cypher Capital has employed former Binance Labs head, Bill Qian, as its chairman, in line with a report from The Information.

Cypher Capital is a UAE-based enterprise capital agency that primarily focuses on investing in Token, blockchain and digital asset-related initiatives.

Qian will oversee the administration and operations of Cypher Capital as chairman.

Bill Qian mentioned: “Cypher Capital is primarily focused on investing in cryptocurrencies, which are popular among founders of blockchain startups because they give investors ownership of the technology without diluting the founder’s equity. There will be a very high level of autonomy here to not only manage our internal capital but also raise capital to become a leading crypto asset manager and investor in the region, which is why in the end, I ended up choosing the Cypher team.”

Cypher Capital additionally plans to create a complete blockchain group to make a major impression by partnering with distinctive expertise, visionary innovators and different enterprise capital companions.

In March of this 12 months, so as to increase the blockchain ecosystem, UAE enterprise capital agency Cypher capital launched a $100 million seed fund, which will likely be invested in initiatives within the decentralized finance (DeFi), metaverse and blockchain gaming sectors and particularly Pay consideration to digital asset funding., and $40 million from that fund will likely be poured into the Indian market.

The firm can be aiming to have $1 billion in property underneath administration by 2025.

Image supply: shutterstock

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