Founders Fund made $200 million crypto investment
Founders Fund, the venture capital firm founded by billionaire Peter Thiel, is investing once again in bitcoin and ether, sources said, signaling Silicon Valley's renewed interest in cryptocurrency markets. From late summer to early fall last year, the fund invested $200 million to acquire crypto tokens, half in bitcoin and the other half in ether, the two largest crypto currencies, two sources with direct knowledge of the matter told Reuters. The previously unreported move by the prominent Silicon Valley venture capital firm underscores some institutional investors' return to token investments, once the hottest investment strategy before the crypto market crashed in 2022. The outsized bet marks a comeback for crypto markets, which suffered in 2022 after the collapse of crypto exchange FTX and other big players crushed prices, tarnished the industry and prompted a regulatory crackdown. In 2022, the price of bitcoin crashed to nearly $15,000, its lowest price s...