According to BlockBeats, on August 25, The Block reported that the cryptocurrency custody unicorn Anchorage Digital was valued at over $3 billion in its Series D funding round in 2021. Due to the continued downturn in broader cryptocurrency financing, the company has established a venture capital department to support early-stage protocol teams.
The department is named Anchorage Digital Ventures and will provide funding and strategic support to founding teams building on-chain infrastructure. Anchorage stated that the program aims to help protocols 'be institutional-ready from day one' and provide support beyond financial investment.