BitMEX-Joins-Rivals-In-Launching-Its-Own-Venture-Capital-Arm

BitMEX Joins Rivals In Launching Its Own Venture Capital Arm

BitMEX, a platform that offers P2P trading and leveraged Bitcoin contracts. The company, according to The Block Crypto, has followed the path of its rivals to launch a new company focused venture investments. This new company will be focused on identifying potential crypto firms that can be invested in.

This new venture arm of the company will be led by Kumar Dendapani, the global head of BitMEX Ventures, which joined the firm this year. He was formerly a partner at the Nth-Degree Analytics. Maxim Wheatley will also be working at the firm.

The idea of this new initiative is to back highly talented companies like Blockfolio, which has already BitMEX as an investor.

Not A Surprise That BitMEX Is Acting Now

Many of the rivals of the company are launching similar initiatives now, so it is not a surprise that they decided to do it. For instance, the two most important companies in the exchange market, the American giant Coinbase and Binance, the largest exchange in the whole world, are together in their mission of each creating their own venture arm.

Coinbase has announced this new venture unit back in April. The company already has more than 20 investments in important companies in its portfolio. Binance has also created a $1 billion fund to be used in venture capital enterprises and also created Binance Lab’s unit, a social impact fund.

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