Finance
What to know:
- In the great city of New York, a venture capital firm named Archetype has gathered a tidy sum of $100 million, their third attempt at backing those mysterious blockchain startups you hear about in cafés.
- They boast of past glories: Privy, a digital wallet of some renown, was swallowed by the giant Stripe, and US Bitcoin Corp found itself merged-no less-with Hut 8, a curious alliance somehow linked to Eric Trump’s American Bitcoin adventure.
- Rather than throwing coins around like a reckless gambler, Archetype wisely chose to keep their new fund modest, inviting but one new limited partner to the table, as one might choose a particularly fine tea leaf for a delicate brew.
Archetype, perched on their New York ledge, announced raising this $100 million fund, humorously titled Archetype III, to pet blockchain startups in their tender infancy. One imagines those startups nodding dutifully, hoping their dreams do not collapse like a house of cards in a teatime breeze.
The fund’s patrons are a curious mix: pensions of the cautious sort, academic endowments whose professors likely don’t quite understand crypto but enjoy the novelty, sovereign wealth funds, and various funds of funds-entities so layered they could be mistaken for the deepest Russian novels.
The firm’s portfolio gleams with past successes, or at least those that look impressive on paper. Privy, once small and hopeful, has been scooped up by Stripe, leaving behind a whisper of digital wallets and anxious investors.
Meanwhile, the seemingly portentous union of US Bitcoin Corp and Hut 8 gestures to an alliance with the enigmatic Eric Trump’s American Bitcoin project. One wonders if there will be vodka involved or just tweets.
With some $350 million under their care, including stakes in Solana and Ethereum-names familiar to those who’ve attended any gathering of the crypto-wary-Archetype stands firm, yet cautious.
Though the new fund’s investments remain elusive, Archetype assures that deals have been quietly inked. Their stated mission: to favor founders crafting real-world magic, crypto that might even reach the hands of the common folk, not just the lords of the blockchain.
CoinDesk, ever the eager correspondent, sent a missive seeking comment. Silence, as if the very blockchain had swallowed their words-perhaps an apt metaphor 🕵️♂️.
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2025-09-23 19:18