PANews reported on April 23 that, according to Bloomberg, sources familiar with the matter revealed that Blockchain Capital, a venture capital firm specializing in cryptocurrencies, is raising $700 million for two new funds, including its seventh early-stage fund and second growth fund. Deployment of some of the new capital has already begun, and fundraising is expected to be completed within five to six months. Blockchain Capital has previously raised approximately $1 billion for crypto investments, investing in crypto exchanges such as Coinbase and Kraken, as well as Tether Holdings. The firm currently manages $2 billion in fee assets and has a total portfolio value exceeding $6 billion. This funding comes at a challenging time for the crypto industry, with Bitcoin still down about 40% from its all-time high in October last year, and total assets under management tracked by crypto funds down from $101.5 billion in Q1 2025 to $93.4 billion in Q1 of this year.