Crypto slides, but tokenized RWAs and VC push ahead

As Bitcoin and altcoins continue to sell off, venture capital is raising millions for blockchain-based financial infrastructure, while real-world assets continue to draw capital.

Crypto markets have erased nearly $1 trillion in value over the past month, yet parts of the industry tied to infrastructure and tokenized real-world assets (RWAs) are telling a different story. Tokenized Treasurys are expanding, venture firms are still raising capital and Bitcoin-focused companies are consolidating their footprints.

This week’s Crypto Biz looks at the widening gap between spot markets and capital formation — from Nakamoto’s $107 million acquisition spree to Dragonfly’s new $650 million fund, the continued rise of tokenized RWAs and why Paradigm says Bitcoin miners may have a growing role in stabilizing the power grid.

Bitcoin holding company Nakamoto has agreed to acquire BTC Inc and UTXO Management in a combined $107 million deal, expanding its footprint across Bitcoin media, events and financial services.

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