PayPal's Peter Thiel Gifts Layer1 a $2.1 Million Investment to Create ‘Category-Defining' Crypto Company

    PayPal co-founder and venture capital investor Peter Thiel just made a major investment in a cryptocurrency firm called Layer1. On Wednesday, the company revealed that it had received $2.1 million in seed funding from Peter Thiel and other investors.

    The San Francisco-based company claims to have an executive team with wide-ranging experience across the tech sector and financial services industries. Using that experience, Layer1 aims to create the “crypto investment company of the future”:

    “We believe that the crypto investment company of the future will look radically different to status quo, with a clear focus on an engineering-first and pro-activist investment approach,”

    said Layer1 co-founder Alexander Liegl, who previously worked on building a fraud detection platform for tax agencies.

    “Cryptocurrencies, as open-source protocols, offer the unprecedented opportunity for companies like Layer1 to meaningfully add value. This is fundamentally different from the possibilities available in traditional asset classes.”

    The goal of Layer1 is to be the “category-defining investment company” for the crypto industry. Layer1 will aim to achieve that goal by acting as an engineering organization that directly engages with open-source protocol development.

    For now, Layer1 is focusing on a privacy-focused cryptocurrency called Grin. The company is building technology to support the growth of that cryptocurrency, which is scheduled to launch in early 2019. Grin is being built from the ground-up as a highly scalable cryptocurrency with stronger privacy features than competing cryptocurrencies.

    In addition to PayPal co-founder Peter Thiel, Jeffrey Tarrant is also investing in Layer1. Tarrant was one of the early backer of the MIT Media Lab’s Bitcoin Developer Fund. He’s also the co-founder of investment firm Protégé Partners, where Layer1 co-founder worked as an intern in 2016, as reported by Finance Magnates.

    “Whether he came into contact with Tarrant at that point in time, and whether that influenced the latter’s decision to invest in Layer1, is unclear.”

    At the official website, the company describes itself as “an investment and infrastructure platform” that will “take concentrated bets on promising blockchain protocols and build critical technology to support their global impact.” Clearly, Layer1 believes there’s potential in the new Grin cryptocurrency, which is why they’re building technology to support Grin.

    So far, there’s limited information about Layer1 Capital, LLC available online. You can learn more, however, by visiting the company online today at

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Andrew Tuts
    Andrew is a Canadian cryptocurrency analyst who has spent the last seven years writing about digital marketing, science, and technology for hundreds of online publications. Andrew breaks down the latest news from across the crypto and blockchain space in a way anyone – even his parents – can understand.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Open Interest on CME Bitcoin Futures Outgrowing BTC Price

    If BTC closes above the 200-day moving average, just above $9,000, we could see $10k Institutional investors leading the way for a new...

    Here’s How DeFi’s Smashing Growth Puts a Trillion-Dollar Case for Ethereum

    Total USD value locked in DeFi surpasses $800 million creates “a new paradigm for global finance” with one common theme Ether The trillion-dollar...

    This Uncannily Accurate Bitcoin Chart from Dec. 2018 Predicts a New ATH in 2020/21

    Analyst ‘s post from Dec. 2, 2018, correctly predicts Bitcoin’s bottom and momentum in 2019 Bitcoin price is currently hovering around $9,000 after surging...

    Lawmaker Proposes Bill For State-Chartered Institution For Blockchain & Crypto Innovations

    An Oklahoma lawmaker has come forward with the proposition of creating a financial institution chartered by the state and that functions as a central...

    Block.One's ‘Voice' Social Network Has An Open Door Policy To Other Blockchains, Not Just EOS

    During its June ICO, had indicated that its Facebook rivaling social network dubbed Voice, would be launched on the EOS network. However, plans...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.