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6th Man Ventures Raises $145M for Crypto Fund: Report
It’s the second fund for the venture capital firm led by The Block founder Mike Dudas.
By Brandy Betz
Updated May 11, 2023, 6:51 p.m. Published May 12, 2022, 1:28 p.m.
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6th Man Ventures has raised $145 million for its second crypto fund, which will focus on early-stage investments, according to a report at The Block.
- Limited partners for the new fund included Galaxy Vision Hill, Three Arrows Capital, Sino Global Capital, FTX Ventures and Animoca Brands, as well as a group of angel investors – hedge fund billionaire Bill Ackman and Andreessen Horowitz partners Marc Andreessen and Chris Dixon among them.
- According to the report, around 20 investments have been deployed so far from this new fund, which focuses on early-stage projects and will write checks of $1 million to $2 million for each deal.
- Dudas, who left his role as The Block CEO last year for stablecoin firm Paxos, said the 6th Man's first fund had $7.4 million in capital and invested in 75 projects with an average check size of $100,000.
- Despite the turbulent start to 2022 for digital asset prices, venture capital deals have marched on. Recent raises have included a $650 million fund from Dragonfly Capital, $200 million from Blockchain Coinvestors and $250 million vehicle from SPiCE VC.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Stablecoins moved $35 trillion last year but only 1% of it was for 'real world' payments
While stablecoins settled around $35 trillion last year, only around 1% of that represented genuine payments like remittances and payroll, a new report found.
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- Stablecoins processed more than $35 trillion in transactions last year, but only about 1% of that reflected real-world payments, a report by McKinsey and Artemis Analytics found.
- The study estimated that roughly $390 billion in genuine stablecoin payments, such as vendor payments, payrolls, remittances and capital markets settlements.
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