One of the largest venture capital and asset management firms in the cryptocurrency industry. Arrington Capital, announced its new investment cryptocurrency. In a statement made by Arrington Capital, Algorand (SOMETHING) It was claimed that $ 100 million was invested in the blockchain network and initiatives were accelerated.
The Algorand fund is created
Arrington Something Growth Fund (AAGF) The fund was also implemented within the scope of this development. The fund will be used in its entirety for the growth of the Algorand ecosystem and will attempt to add other assets to the Algorand ecosystem. In the published press release, it is stated that ALGO has already experienced “significant growth and acceptance” and that this can be further advanced with contributions from the fund.
Arrington Capital has recently prioritized investments focused on DeFi, traditional finance and NFT, and SOMETHING is exactly one sign of this. Using the phrase “We are huge fans of Algorand,” the fund’s founder, Michael Arrington, revealed it with a $ 100 million stake. Algorand has also previously received core funding from Arrington Capital.
The DeFi-centric network, which offers blockchain solutions for institutional investors, has risen in popularity recently. Companies that have invested in Algorand include Curvegrid and Infinity Capital. Arrington, the founder of Algorand, also launched TechCrunch. This shows that Algorand can also get support from the media channel.