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Huobi Enters Venture Capital With Ivy Blocks

The exchange's newly formed investment arm will focus on DeFi and Web 3 ventures.

By Michael Bellusci
Updated May 11, 2023, 5:39 p.m. Published Jun 10, 2022, 8:24 p.m.
(CoinDesk archives)
(CoinDesk archives)

Cryptocurrency exchange Huobi Global launched Ivy Blocks with a "multibillion-dollar war chest" to invest in cryptocurrency projects globally.

  • "Many promising projects tend to encounter liquidity constraints and a lack of go-to-market support, which present significant barriers to growth," said Huobi Chief Financial Officer Lily Zhang in a statement. The new investment arm "will no doubt contribute towards creating a better, more inclusive DeFi [decentralized finance] and Web 3 blockchain ecosystem."
  • Ivy Blocks will be providing three core services, according to the company. There will be a liquidity investment department providing an asset management platform for smart DeFi mining and income aggregation. There will also be Ivy Labs, a crypto and blockchain incubator and Ivy Research, which focuses on blockchain and cryptocurrency research.
  • Ivy Blocks has more than $1 billion in crypto assets under management. Among early projects is Capricorn Finance, an automated market maker (AMM) decentralized exchange built on the Cube blockchain.

Read more: Huobi Global Acquires Latin American Crypto Exchange Bitex

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Wall Street giant Apollo deepens crypto push with Morpho token deal

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The asset manager overseeing more than $900 billion assets may buy up to 90 million MORPHO tokens as part of a partnership to support DeFi credit market, it said.

Что нужно знать:

  • Apollo Global Management struck a cooperation agreement to support lending markets built on Morpho’s onchain protocol.
  • The deal allows Apollo to acquire up to 90 million MORPHO tokens over 48 months.
  • The move follows BlackRock's push into decentralized finance earlier this week, listing its tokenized fund and buying tokens of decentralized exchange Uniswap.
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