The crypto sector has begun to attract attention with investors’ expectations that Bitcoin will surpass the $40,000 mark, which has caused fluctuations in other digital currencies as well. Amidst this revival, the C1 Fund, equipped with a $500 million budget, is conducting strategic oversight on secondary shares with discounts of up to 80%.
Established by former <a href="https://en.bitcoinhaber.net/robinhood-ceo-discusses-the-impact-of-cryptocurrency-trading-volume-surge-on-market-and-company”>Coinbase lawyers and investors, the C1 Fund targets leading crypto organizations to purchase secondary shares from investors. Focusing particularly on crypto companies that have entered their most recent funding round with a valuation of at least $300 million, especially Series C or later, the fund aims to write checks ranging from $20 to $50 million.
By turning market conditions, hyperinflation, and rising interest rates to its advantage, the C1 Fund believes it’s an opportune time for attractive valuations in the secondary market as the digital asset market matures. Committed to acquiring shares at significant discounts, the fund is looking to capitalize on the current market dynamics.
Hong Kong-based Animoca Brands, which once traded on the ASX, has come under the radar of the C1 Fund, and it’s claimed that the fund has offered to purchase shares at a significant discount based on the company’s last valuation. Moreover, the C1 Fund aims to make notable discounts in companies such as US-based Chainalysis, which was valued at $8.4 billion in 2022.
Local crypto exchanges Independent Reserve and BTC Markets are witnessing an influx of customers due to money laundering allegations directed at the founder of Binance. With a transaction volume increase of up to 50% compared to Binance, these locally regulated operators are becoming the preferred choice. Investors are anticipating a potential crypto renaissance with the likelihood of US regulators approving a Bitcoin ETF in January. Such approval could enable Wall Street players to market their funds to a broader investor base, potentially leading to further growth in the cryptocurrency space.