Tether Deepens Web3 Venture Capital Activities with Arcanum Capital's…

Team S · 2024-12-30T16:41:05.000Z

Tether, a leading stablecoin provider, has announced its support for Arcanum Capital's Fund II, marking a significant step in deepening Web3 venture capital activities. This collaboration, announced on December 27, 2024, in Hamilton, Bermuda, brings together key players in the blockchain and cryptocurrency space to foster innovation and resilience in the face of global uncertainties. Paolo Ardoino , CEO of Tether and CSO of Holepunch, emphasized the importance of resilient technology in safeguarding freedoms amidst geopolitical tensions and macroeconomic uncertainty. Tether's partnership with Arcanum Capital aims to empower individuals with tools and knowledge to protect their sovereignty. James McDowall , Managing Partner of Arcanum Capital, expressed honor in having Tether as a founding investor in their second fund. This investment not only validates Arcanum Capital's mission and approach but also signals confidence in their asset management capabilities. The fund will focus on companies utilizing Tether's stablecoin for payment innovations and projects leveraging Holepunch technology. One such project is Keet, a messaging app that operates without relying on a central server, ensuring continuous and secure communication. Luganodes , the world's fastest-growing blockchain infrastructure provider, has also joined as a Limited Partner in the Fund and will serve as the preferred staking partner. This strategic partnership combines Arcanum's research-driven investment approach with Luganodes' technical expertise and infrastructure. Luganodes has recently achieved an all-time high of $3.3 billion in staked assets under management across over 40 top proof-of-stake blockchains. They hold top validator positions on several networks, including the number one spot on Tron and Kava. Arcanum Capital, registered with the Bermuda Monetary Authority, operates under the Investment Business Act 2003 and the Investment Funds Act 2006. The collaboration between Arcanum Capital, Tether, and Luganodes aims to push the boundaries of decentralized technologies, working towards a more resilient, secure, and equitable digital future. This partnership represents a significant development in the Web3 and blockchain space, bringing together key industry players to drive innovation and support transformative technologies in the evolving digital landscape. https://www.globenewswire.com/news-release/2024/12/27/3002178/0/en/Tether-Supports-Arcanum-Capital-s-Fund-II-Deepening-Web3-Venture-Capital-Activities.html

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Tether Deepens Web3 Venture Capital Activities with Arcanum Capital's… | Newnex