FinTech news in Multicoin capital category

The new fund will focus on a handful of areas in the crypto ecosystem, including web3 infrastructure, decentralized finance (DeFi), decentralized autonomous organization (DAOs) tooling, and new business models to collaborate on intellectual property, to name a few.

Siedman said his conversation with a number of entrepreneurs including Amir Haleem, the founder and chief executive of decentralized wireless network Helium, helped him gain more confidence about the business model of giving ownership to the contributors.

Many crypto detractors contend that the web3 space is buoyed by meme money, so Coatue leading a $69,420,000 Series B in a blockchain startup shouldn’t leave them too surprised. The investment — made in crypto analytics platform Dune Analytics — brings the startup valuation to $1 billion.