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Union Square Ventures, a New York-based venture capital firm that manages $ 1 billion in assets, is planning on it rich by investing in the blockchain and cryptocurrency industry — which it views as potentially being worth a trillion dollars in the future.
‘It’s not at all crazy’
Union Square Ventures, named after its location in New York City, has already invested in popular San Francisco-based cryptocurrency exchange Coinbase. However, it currently has no plans to launch a separate fund.
Coinbase’s new VC arm raises thorny questions about the influence the startup wields across the crypto market and potential conflicts of interest.