Huobi's new investment arm puts emphasis on various Web3 and DeFi enterprises.
On June 10, Huobi Global, the world’s leading Bitcoin (BTC) and Ethereum (ETH) trading platform, announced that it would launch a new investment named Ivy Blocks, which has more than $1B in crypto assets under management, to explore various blockchain-related projects.
One of Huobi's spokespeople revealed that the company will particularly look at Web3 and decentralized finance (DeFi) projects. On top of that, Ivy Blocks will focus on three particular services. For instance, the Liquidity Investment Department will concentrate on decentralized finance (DeFi) mining and income aggregation, Ivy Labs, a blockchain incubator, will be established, whereas Ivy Research will prioritize crypto-related research.
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As stated in the official report, with such services, Huobi will be able to lend a helping hand to companies by providing them with technical assistance, professional mentorship, and token listing aid. Likewise, it will include “liquidity investments” and “project acceleration support.”
According to Lily Zhang, Huobi's Chief Financial Officer, "many promising projects tend to encounter liquidity constraints and a lack of go-to-market support, which present significant barriers to growth.” The CFO believes that such investments will aid in building a more comprehensive Web3 and DeFi environment.
On top of that, back on June 10, an AMM decentralized exchange established on the Cube blockchain Capricorn Finance was one of the first initiatives backed by Ivy Blocks.
Hobi Global, founded in 2013, is defined as one of the world's leading blockchain firms, which operations span numerous industries, including enterprise and public blockchains, digital asset trading, and crypto-related wallets. In addition, the company serves a significant number of consumers in more than 170 countries.
In fact, the news comes after Kraken Intelligence’s report underlined that “NFT volume saw a large decrease with daily volume dropping over 87%.” Likewise, losses in decentralized finance (DeFi) ranged from -3% to -53% among the sector's biggest assets.
On another note, earlier this month, a blockchain startup accelerator dubbed Cronos Labs announced that it would roll out a $100 million investment to explore Web3, DeFi, and Metaverse-focused startups.
