Archetype has closed a $100M+ fund backed by institutional investors, aiming to support onchain infrastructure, stablecoins and real-world assets. Crypto venture capital company Archetype said it closed over $100 million in total capital commitments for its third fund, Archetype III. The new fund is backed by institutional investors including pensions, academic endowments, funds of funds, sovereign wealth funds and family offices, the company said in a press release on Tuesday. Archetype’s funds are behind crypto companies such as Monad, Privy, Farcaster, Relay and Ritual. The company targets early-stage startups building onchain infrastructure, decentralized finance (DeFi) and emerging blockchain applications. Read more
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation. Today in crypto, the SEC is drafting an “innovation exemption” to speed approvals of digital-asset products. Meanwhile, blockchain payment company Fnality raised $136 million from major banks to grow its settlement network, and US lawmakers pressed for crypto in retirement plans. The US Securities and Exchange Commission is working to create an “innovation exemption” that would ease approval of digital-asset products by the end of the year, SEC Chair Paul Atkins said on Tuesday. During an interview on Fox Business, Atkins told anchor Maria Bartiromo that the SEC is working on “rulemaking in the coming months.” Read more