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BTC $75,056.31 +0.43%
ETH $2,350.71 -0.20%
BNB $635.47 +2.02%
XRP $1.45 +4.60%
SOL $89.02 +4.92%
TRX $0.3271 +0.04%
DOGE $0.0993 +4.88%
ADA $0.2592 +5.35%
BCH $451.42 +2.71%
LINK $9.56 +3.44%
HYPE $43.95 -1.62%
AAVE $115.53 +9.75%
SUI $1.00 +4.96%
XLM $0.1686 +7.17%
ZEC $339.06 -2.64%

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first_img Fortune Magazine: Paradigm, a16z crypto and other crypto VC asset management scales have significantly shrunk

According to Fortune magazine, in the context of a downturn in the crypto market in 2025 and the distribution of profits to investors, the portfolio values of crypto venture capital firms such as Paradigm and a16z crypto have significantly shrunk.According to filings with the U.S. Securities and Exchange Commission (SEC), the total assets under management (AUM) of four crypto funds under a16z crypto dropped nearly 40% from 2024 to 2025, falling to $9.5 billion. Part of the reason is that the firm began returning capital to investors from earlier funds, and the timing of the returns coincided with the market peak in 2025, with a net DPI (distributions to paid-in capital) of 5.4 for its first crypto fund.Multicoin Capital's AUM has more than halved, dropping to about $2.7 billion. Paradigm's holdings also slightly decreased by about 6%. Meanwhile, the total size of a16z crypto's parent company, Andreessen Horowitz, has exceeded $100 billion.The report points out that the shrinkage in assets under management reflects the decline in portfolio value due to the market downturn, and is also a sign of normal exits by VCs and the return of funds to limited partners (LPs). Some firms, such as Haun Ventures, have seen their AUM grow by over 30%, reaching around $2.5 billion.Currently, Paradigm is seeking to raise a new fund of $1.5 billion, and a16z crypto is also raising up to $2 billion for its fifth fund.

Polymarket predicts a 46% probability that SpaceX's IPO closing market value will exceed $2 trillion, and the first subscription for Gate Pre-IPOs SPCX will begin

Gate, as the first centralized exchange to connect to Polymarket, shows that the probability of a closing market value forecast of over $2 trillion for the SpaceX IPO is about 46%, making it the highest probability option currently.It is reported that Gate has launched the first phase of the Pre-IPOs project, SpaceX (SPCX). The subscription for this phase of SpaceX (SPCX) will be open from April 20, 2026, 18:00 to April 22, 18:00 (UTC+8), supporting participation in both USDT and GUSD. After the subscription is completed, the SPCX asset certificates are expected to be distributed before April 22, 22:00 (UTC+8) and will enter pre-market trading in a 100% unlocked form, with pre-market trading starting at April 24, 18:00 (UTC+8). The total subscription amount is 33,900 SPCX, with a total value of approximately $20.01 million, a unit price of $590, corresponding to an implied valuation of about $1.4 trillion.In terms of participation mechanism, Gate Pre-IPOs adopts "average locked amount per hour" for allocation, emphasizing early participation weight. The minimum participation threshold is 100 USDT, and no handling or custody fees are charged. Gate Pre-IPOs will continue to focus on early participation opportunities for high-quality projects before listing, providing users with a new entry point to access global quality assets.

Gate will launch the first phase project of Pre-IPOs, SpaceX (SPCX), supporting dual currency subscription with USDT/GUSD and 100% unlock

The world's leading digital asset trading platform Gate will launch the first project of Pre-IPOs, SpaceX (SPCX), opening the subscription channel for pre-listing assets. This product supports participation in both USDT and GUSD, and after the subscription is completed, the SPCX asset certificate will enter the pre-market trading with a 100% unlock format.The subscription period is from April 20, 2026, 18:00 to April 22, 18:00 (UTC+8), and SPCX is expected to complete distribution before May 6, 18:00 (UTC+8). The total subscription amount is 33,900 SPCX, with a total value of approximately 20.01 million USD, a unit price of 590 USD, corresponding to an implied valuation of about 1.4 trillion USD.Mechanically, Pre-IPOs use "average locked amount per hour" for allocation, emphasizing early participation weight. After obtaining the asset certificate, SPCX supports pre-market trading or subsequent delivery. In addition, the minimum participation threshold for this subscription is only 100 USDT, and there are no hidden costs such as handling fees, custody fees, or profit sharing.Gate Pre-IPOs focuses on early participation opportunities for high-quality projects before listing, opening a new gateway for individual investors to access global quality assets. In the future, the platform will continue to expand more high-quality targets and product forms, promoting the industry towards a more open and efficient direction.

OSL USDGO reached $130 million, Deutsche Börse invested in Kraken, Capital B increased its BTC holdings

According to BBX data, yesterday the compliant stablecoin infrastructure and traditional institutional crypto layout advanced simultaneously, with the following core dynamics:OSL Group (HKEX: 863) announced on April 14 that its compliant enterprise-grade stablecoin USDGO has been online for about two months, with a circulation scale reaching $130 million; Goldman Sachs' stablecoin reserve fund STBXX officially joined the reserve asset system, alongside BlackRock's tokenized fund BUIDL as underlying support; the original ecological alliance GO Alliance was simultaneously upgraded to the global industry alliance Stable Alliance.Deutsche Börse Group (XETRA: DB1) announced on April 14 through an official announcement that it acquired $200 million in secondary market shares of Kraken's parent company Payward, Inc., obtaining approximately 1.5% fully diluted ownership; Bloomberg estimates the corresponding valuation of Kraken to be about $13.3 billion, down from $20 billion during the equity transfer in November 2025; the transaction is expected to be completed in Q2 2026, aiming to bridge traditional finance and digital asset institutional channels.Capital B (Euronext Growth Paris: ALCPB) recently purchased 37 BTC (average price approximately €60,892), raising its total holdings to 2,925 BTC, with a total cost of €269.4 million, YTD BTC Yield 1.25%; Blockstream and UTXO Management's debt-to-equity conversion was completed simultaneously, adding a total of 36,613,919 shares.
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