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After a record year for crypto funding deals, one of the world’s busiest cryptocurrency exchanges, FTX Trading, announced on Friday that it has launched a $2 billion crypto-focused venture capital fund, making it the latest megafund Which promises to bury billions of dollars. Startups in the nascent crypto space.

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Dubbed FTX Ventures, the Fund Will invest in cryptocurrency startups across the globe and at all stages with a broad focus in the social, gaming, fintech, software and healthcare industries.

Founded in 2017 by billionaire Sam Bankman-Fried, FTX has tapped crypto investor Amy Wu, a former partner at $10 billion investment firm Lightspeed Ventures, to head the fund and lead its eight-person team.

In a statement, Wu said that he is “particularly excited about Web3 gaming” and its potential to enter mainstream entertainment; She has previously led multi-million-dollar investments in blockchain software company Alchemy and crypto-gaming studio Faraway.

Wu said the fund, which has yet to announce any investments, will write checks ranging from $100,000 to hundreds of millions of dollars.

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