Introduction to Ivy Blocks
Huobi Global has just unveiled its latest venture, Ivy Blocks, a new investment arm wholly focused on decentralized finance (DeFi) and Web3 projects. With over $1 billion in crypto assets ready to go, Ivy Blocks is set to shake things up in the blockchain economy. If you thought traditional finance was confusing, wait till you get a load of this!
Mission and Services of Ivy Blocks
A spokesperson for Huobi confirmed that Ivy Blocks aims to identify and invest in promising blockchain projects. But, wait! That’s not all. This investment arm isn’t just about throwing money around like confetti at a parade. Ivy Blocks will also provide:
- An asset management platform
- A blockchain incubator
- A dedicated research team
According to Lily Zhang, Huobi Global’s CFO, the asset management department will assist DeFi and Web3 projects by offering “liquidity investments.” It’s like being a financial superhero: saving projects from running out of gas at critical moments!
Ivy Blocks’ First Investment
Dealing out cash like it’s going out of style, Ivy Blocks announced that its first investment would be in Capricorn Finance, an automated market maker built on the Cube blockchain. Talk about hitting the ground running—this project is already on the way to making a splash in the DeFi pool!
The State of DeFi in 2023
It’s hard to ignore the elephant in the room: the DeFi sector has lost more than half its value since its peak. Currently, it’s sitting just under $133 billion in total value locked (TVL), following a peak of over $316 billion back in December 2021. It seems DeFi is on a roller coaster ride, and the market is currently taking a dip. But, hey, who doesn’t love a thrill ride?
The Bigger Picture: Crypto Winter and VC Investments
Even as the crypto winter rages on—an icy phase that’s proven to be quite the buzzkill for many—venture capitalists are still taking the plunge into the crypto scene. In the first quarter of this year, blockchain and crypto investments reached an impressive $14.6 billion. To put that in perspective, the total investment for the entire 2021 was around $30.5 billion. It appears that brave investors see the bright side, even through the frost!
