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Algorand receives a $100 million investment from Michael Arrington’s venture capital fund.

The Venture Capital Firm Arrington Capital Management has launched an Ecosystem Fund to support companies based on Algorand, a Layer 1 blockchain.
The Arrington Algo Growth Fund puts aside funds to purchase stock and tokens from enterprises in Algorand’s rapidly expanding ecosystem.

https://www.ecryptocurrency.co/2021/06/12/algorand-receives-a-100-million-investment-from-michael-arringtons-venture-capital-fund/



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23 Comments

  1. The small market cap of ALGO plus the quality of the team and product made it irresistible. All things in crypto are a gamble, but I had to pick up some. Love this interest rate and looking forward to being a governor.

  2. What exactly did they get for $100 million dollars, ALGO? Why did they not buy it from the market? Why the price did not shoot upwards if someone buys for $100 million dollars? What do they expect to happen after buying? Why did Algorand not sell the coins on the market to stay independent? I think funding is never good news since the one funding expects something in return which should not work in a decentralized network..

  3. Smart money is going with smart projects. Let’s see how many will find this news as a negative since VC didn’t invest into their coin. Algorand is the future of finance.

  4. Correct me if im wrong, but that (and other government contract money) goes to ALGO the foundation and was not invested into the token. Meaning (while positive) the way they continue to conduct themselves means investing in ALGO tokens is the worst way to invest in ALGO

  5. This investment isn’t going to add on to the constant dump from the devs and early investors, is it? Because it’s stifling the project’s valuation growth enough already as is.

What do you think?

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