FTX collapse may boost 'further trust' in crypto ecosystem — Nomura exec
The winds of crypto winter may be still blowing, but it doesn't seem to be stopping venture capital firms from piling into cryptocurrencies. In fact, recent events influenced by the bear market, such as the collapse of FTX, could bring "further trust into the ecosystem," according to Jez Mohideen, co-founder and CEO at Laser Digital, the recently launched digital assets arm of the Asian giant Nomura Holdings.
"More traditional players are entering the space who can help to regulate the sector. This means players who understand regulation as well as the importance of clients' aggregation, stability, and execution," explained Mohideen, a long-time participant in the venture sector and former director at Barclays and partner at the hedge fund Brevan Howard.
Laser Digital Ventures’ current portfolio includes the crypto exchange Bullish, the decentralized exchange protocol Orderly Network, and the hybrid custodian for institutional investor Komainu, among other firms working on decentralized finances (DeFi) structured products and fixed income solutions. In 2023, he said that the company is planning to invest in nearly 20 projects.
Related: 2023 could be a rocky year for crypto venture investments: Galaxy Research
Among Laser Digital's main target areas for funding are startups providing solutions for institutional investors, a market that has been growing consistently lately. Over the past year, 62% of institutional investors have increased their crypto allocations, according to a Coinbase survey.
"The lack of adequate infrastructural solutions has created a significant bottleneck for crypto-keen institutions — we want to help solve this bottleneck issue," stated the executive. In web3, the firm is especially eager to work on
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