Advertisement
AD

Main navigation

Anthony Pompliano's "Very Legacy" Venture Fund Criticized for Not Accepting Crypto

Advertisement
Fri, 11/09/2020 - 16:15
Anthony Pompliano's "Very Legacy" Venture Fund Criticized for Not Accepting Crypto
Cover image via www.facebook.com
Read U.TODAY on
Google News
Contents
Advertisement

Bitcoin evangelist and Morgan Creek Digital co-founder Anthony Pompliano has announced the launch of a new early-stage venture fund, thus turning himself into a solo capitalist.

The initiative received a very mixed reception from the crypto crowd. While some were quick to congratulate Pompliano on his new endeavor, others were quick to point out that the fund is "very legacy" and "unapproachable."

"Another suit"

The new fund will invest in the pre-seed and seed rounds of tech companies. Pompliano claims that it will provide access to the venture capital asset class for every accredited investor, not only large institutions.

This is evidently enough for members of the cryptocurrency sphere who criticized the fund for ignoring "little fish" and not accepting crypto. They accused Pomp of becoming "another suit."

However, Pompliano says that he can only do so much in the current regulatory environment but that this is already a step toward decentralization:

We may not be able to decentralize the world yet, but rolling funds bring us one step closer to the ultimate goal.

His fund cannot accept Bitcoin or altcoins as of now, but he is hopeful that "something can be figured out" in the future.

As reported by U.Today, billionaire venture capitalist Tim Draper expressed his desire to fund companies in Bitcoin back in May.

Venture capital
Image by statista.com

Related
Bitcoin (BTC) Advocate Anthony Pompliano Shares Four Rules of Financial Independence. They're Not About Crypto

Future plans

Pompliano is not parting ways with Morgan Creek Digital founder Marko Yusko, claiming that he will continue to fulfill his responsibilities at the crypto-focused hedge fund backed by Marko Yusko's Morgan Creek Capital.

Our team has been able to build one of the select few firms that raised 9-figures in capital and we were the first asset management firm to manage digital assets on behalf of public pension funds in the United States. I’m incredibly proud of the work that we have done and I foresee continued success in the future.

Pomp also does not plan to abandon his successful digital media business, promising to create more content.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Sui Recognized as 2024 Blockchain Solution of the Year at AIBC Eurasia Awards
ElmonX Unveils ‘The Scream’ NFTs by Edvard Munch For The First Time Ever
World's First Bitcoin Layer 2 Conference to Unite East & West in Hong Kong, April 2024
Is Bitcoin Mining Legal? Regions in the World Where Mining Is Legally Permissible
Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Our social media
There's a lot to see there, too

Popular articles