Share this article
HashKey Capital Raises $500M for 3rd Crypto Fund
The firm will back blockchain projects that could achieve mass adoption.
By Brandy Betz
Updated May 9, 2023, 4:06 a.m. Published Jan 17, 2023, 2:35 p.m.
HashKey Capital, the investment arm of financial-services firm HashKey Group, has closed its third fund with $500 million in committed capital. The fund will invest in crypto and blockchain initiatives around the world with a focus on emerging markets.
HashKey FinTech Investment Fund III was backed by institutional investors, including sovereign-wealth funds, businesses and family offices, according to a press release Tuesday. It will invest in infrastructure, tools and applications that could achieve mass adoption.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The latest HashKey fund comes during an extended bear market and amid a number of high-profile crypto scandals, including the collapse of multibillion-dollar exchange FTX.
“HashKey Capital has weathered at least three cycles in the industry," HashKey Capital CEO Deng Chao said in the release. "These unique experiences and insights will be invaluable to us in navigating through turbulence.”
Launched in 2018, HashKey Capital manages over $1 billion in assets. Portfolio companies include blockchain firm Cosmos, layer 2 network Aztec, blockchain-infrastructure firm Blockdaemon and gaming and crypto venture firm Animoca Brands. HashKey operates in Hong Kong and Singapore, with a presence in the U.S. and Japan.
Read more: Singapore Approves In-Principle License for Crypto Fund Manager Hashkey
More For You
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.
What to know:
- 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.
More For You
Coinbase’s Base faces builder backlash over creator coin push
Builders on Base are pushing back against the network’s close alignment with Zora, arguing the creator-coin narrative sidelines established projects.
What to know:
- Base has seen a surge in creator-coin issuance via Zora, with daily token mints surpassing Solana in August, boosting onchain activity and attention.
- Some Base-native projects say marketing and social support has become narrowly focused on Zora-linked initiatives, leaving other established communities without recognition.
- While Base continues to process more than 10 million transactions per day, critics warn that deteriorating builder sentiment could push projects toward rival chains like Solana or Sui.
Top Stories
