Hashed CEO Simon Seo Joon Kim Bloomberg interview that VC The company lost more than $3 billion from its investments in LUNA after it filed for bankruptcy in May 2022.
Hashed has purchased approximately 30 million LUNA tokens as an early investor in Terraform Labs. $25 million venture round, Implemented in January 2021. According to Kim, Hashed kept his tokens and lost a lot of money in the crash.
When accessing the degree of loss, the LUNA $116.11 price peak April 5th was used and the company’s tokens were revealed to be worth $3.6 billion. The crash sent LUNA down to a few cents after the UST stablecoin lost its peg. As a result, more than $40 billion of investor capital was lost in the crash.
However, Kim confirmed that he will continue to invest in the blockchain sector despite the setbacks his company has experienced.
“In technology, there is no such thing as a portfolio that guarantees success, and we invest with that in mind. We believe in growing our community, and that has never changed.”
Investing as hashed
Kim said bloomberg The company is moving forward with plans to raise more funding in the first half of 2023. It is currently increasing its investment in blockchain-based gaming startups. He is optimistic that virtual game worlds will become more interconnected with the real economy as non-fungible tokens evolve to act as bridges.
Hashed has raised $320 million in two venture funding rounds to date.its first fund $120 million was launched in December 2020.blockchain startup Recipients of funds include dYdX, Mythical Games, Republic, Chai, and NFTBank.
Launched by a VC company $200 million Second round of fundraising. Most of the funds were invested in startups raising seeds for Series B funding.
Venture Capital Is Still Funding Crypto Startups
Venture capital invested $17.5 billion in cryptocurrency startups in the first half of 2022, according to PitchBook data. In the first quarter he recorded the largest inflow of $9.85 billion, while in the second quarter he invested $6.76 billion, down 31% from the previous quarter. The crypto winter contributed to the decline as many crypto startups had lowered their valuations.
VC Portfolio Manager at Arca David NageHowever, some VCs are still investing, and others are waiting for the company’s valuation to drop before putting money elsewhere from September, so the decline in funding may not last long. I claimed.
Nage said.
“There was this kind of viral conversation around September that valuations were going to drop even more significantly and become frenetic.”
