Tykhe Blockchain Focuses on Different Regions for Web3 Investments

US-based Tykhe Block Ventures, which was recently funded with a $30 million growth fund for Blockchain projects, has allocated $10 million of it to startups in the Middle East and North Africa (MENA) region.

Tykhe Block Ventures operates under Heru Finance as a multi-faceted entity investing primarily in Web 3.0 and Blockchain decentralization technology, such as digital assets and their underlying mechanisms. To date, the company has invested in more than 25 blockchain startups, including dWalletLabs, Trust Machines, FanTiger, and RMRK, making it one of the largest-ever fundraising investors in MENA Blockchain startups. Prashant Malik, one of Southeast Asia’s most successful angel investors with over 50 investments, spearheaded this $30 million Blockchain Growth Fund.

Virtu Sees Crypto Market As A Long-Term Growth Opportunity

Virtu Financial said during the company’s fourth-quarter earnings announcement that CEO Doug Cifu still remains committed to the crypto market. Acting as a market maker, the company was traded on several exchanges and assumed the role of market maker for Bitcoin exchange-traded funds in Canada. Cifu stated that Virtu continues to see cryptocurrency as a long-term growth opportunity, noting that the bankruptcy of FTX and Alameda Research did not affect the firm’s long-term plans to operate in the cryptocurrency space.

Cifu said in his statement:

“After the recent events, I am proud to say that, as you would expect from Virtu, we are managing the risk associated with events this quarter. Even though we had a fiat and coin balance of around 8 figures deployed in several locations when FTX news broke, we moved quickly and did not suffer any financial losses.”