Crypto news

Ex-Binance employees launch large crypto-fund

Old Fashion Research (OFR), an investment firm created by former Binance exchange employees, has raised enough investment to compete for market share in digital assets and Web3.

Created in 2021, OFR has announced the launch of a cryptocurrency fund that will focus on metacurrencies and the introduction of digital currencies in emerging markets.

According to Ling Zhang, one of OFR’s managing partners, the company is committed to a long-term partnership with meta-village designers. The main goal is to locate in markets that are predominantly traditional financial, as that is where companies are eager to break into the crypto space.

The fund is the largest in the young company’s history. Old Fashion Fund already has several legal entities as portfolio investors: blockchain analytics platform Nansen, cryptocurrency exchanges MEXC Global and Woo, and second-tier network Boba Network.

The capital was reportedly raised from partners, which are mostly venture capital funds, from traditional financial systems. According to Zhang, the industry is booming as more traditional businesses seek to grow into the crypto industry:

More and more venture capitalists are looking for ways to invest in cryptocurrency projects. Digital currencies themselves are a revolution and a disruption of the established financial system. The business model is no longer strictly vertical.

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