ChainCatcher news, former head of FTX Ventures and Menlo Ventures gaming partner Amy Wu stated on her social media that she has not stopped investing in crypto companies; on the contrary, she remains excited about blockchain applications and is always looking for founders who are creating novel consumer experiences.Currently, Amy Wu believes the most important points in Web3 consumer applications are: the ordinary audience is larger than crypto-native users; the team fundamentally understands the products that customers need/want/are willing to pay for; the launched tokens are neither the core product of the team nor monetizable; blockchain functionality is the core feature of the product; in other words, the product is not "a blockchain version of XX application" or "a XX application that issued tokens"; the login process is as smooth as other applications in the same category.

ChainCatcher news, Amy Wu, who previously served as the head of the FTX venture capital department, will join Menlo Ventures as a partner, focusing on investments in the consumer and gaming sectors.It is reported that Amy Wu was a partner at the venture capital firm Lightspeed and took over the position at FTX Ventures in January 2022. After FTX filed for bankruptcy last November, she resigned from FTX Ventures. (source link)

ChainCatcher news, according to a court document, the FTX group had a $6.8 billion gap on its balance sheet when it filed for bankruptcy last November. Among them, FTX.com had a net liability of $10.6 billion, and FTX.US had a net liability of $87 million. FTX's affiliated trading company Alameda Research had a net asset of $2.6 billion, while FTX Ventures had a net asset of $300 million. These companies had total liabilities of approximately $11.6 billion, most of which were customer claims, while their assets amounted to $4.8 billion.It is reported that these statements are unaudited and may be subject to change. (source link)

ChainCatcher news, according to Reuters, Sun Yuchen stated that he is currently reviewing the portfolio of FTX Ventures, but due to its ongoing bankruptcy restructuring process, it may take a long time to complete the review process. (Source link)

ChainCatcher news, according to documents submitted to the bankruptcy court in Delaware, USA, on Thursday, the internal organization of FTX Ventures is chaotic and complex, with some financial data missing and its authenticity in doubt. The document shows that FTX Ventures both invests and receives investments, spreading its funds across Clifton Bay Investments LLC, FTX Ventures Ltd, Island Bay Ventures Inc, and several potential subsidiaries.Among these entities, Clifton Bay Investments and FTX Ventures are the only ones that prepare quarterly financial statements, which indicate that Clifton Bay has $1.5 billion in liabilities, most of which come from "payables to related parties," meaning amounts owed to other FTX-owned entities, including $1.4 billion to Alameda Research and $68.6 million, $38.5 million to Alameda Ventures, and $2.25 million to West Realm Shires Services (FTX US).FTX's legal team has warned that they doubt the authenticity of the financial statements and pointed out that the balance sheet was unaudited and unprepared during SBF's tenure. Previously reported, last Friday, Amy Wu, a former partner at Lightspeed Ventures responsible for FTX Ventures, announced her resignation. (CoinDesk)

ChainCatcher news, the NFT marketplace Joepegs on Avalanche has completed a $5 million seed round financing, led by the now-defunct FTX Ventures and Avalanche Foundation. The Joepegs team stated that the funds from FTX Ventures were completed in June and had been transferred from FTX before the recent bankruptcy events.It is reported that Joepegs launched in May this year, and its co-founder 0xMurloc also founded and participated in the operation of the decentralized exchange Trader Joe on Avalanche. Joepegs also includes an in-house production department, Joe Studios, as well as an NFT Launchpad. This financing will be used to continue developing its core marketplace and accelerate the growth of Joe Studios. (Techcrunch)

ChainCatcher news, according to data from The Block Research, Alameda Research and FTX Ventures have invested in over 250 crypto industry startups, with the most active venture capital activity occurring in the first two quarters of 2022. These investments span areas such as DeFi, trading, and Web3.Earlier, ChainCatcher reported that FTX.com, FTX US, Alameda Research, and about 130 other affiliated companies filed for Chapter 11 bankruptcy reorganization on Friday, excluding subsidiaries LedgerX, FTX Digital Markets, FTX Australia, and FTX Express Pay. (source link)

ChaiCatcher news, The Information reports that FTX Ventures head Amy Wu has resigned. Amy Wu joined the company in January this year to launch a fund expected to be worth $2 billion. Amy Wu said last week at the Lisbon Breakpoint conference that during the last cryptocurrency bull market, venture capital deals were rushed and conducted without proper due diligence.According to data from The Block Research, FTX Ventures and its sister company Alameda Research have invested in over 250 cryptocurrency industry startups. (source link)

ChainCatcher news, according to The Block, FTX Ventures head Amy Wu stated that during the last cryptocurrency bull market, venture capital deals were rushed and conducted without proper due diligence. "There was a lot of FOMO during the bull market. We were discussing how to close deals, and someone would commit to signing a letter of intent within 24 hours; then the rest of the round would come together immediately, with almost no due diligence."She added that many projects were not long-term oriented and had a variety of skills and talents. Now that things have slowed down, there is more due diligence, and venture capital is checking the accuracy of project statements and conducting reference checks on founders. "Founders have longer track records in the field. That in itself indicates whether they are long-term oriented and whether all of this is healthier." (source link)

ChainCatcher news, according to Fortune magazine, the Web3 social protocol Lens Protocol has received investment from FTX Ventures, with the amount undisclosed. A spokesperson for the Lens Protocol development team has confirmed that Lens Protocol is in the process of fundraising, but has not confirmed the scale or end date of the funding. (Fortune)

Chain Catcher News, the crypto finance platform Tactic has announced the completion of a $11 million funding round, led by FTX Ventures, with participation from Lux Capital, Exponent Founders Capital, Definition Capital, Coinbase Ventures, and others. The company plans to use the funds to hire engineers and expand the platform to support new blockchains and financial workflows.It is reported that Tactic aims to simplify cryptocurrency accounting for businesses that hold or interact with digital currencies, providing a clear view of organizational funds and robust transaction audit trails in an accounting-friendly format. Tactic can seamlessly collaborate with existing custody solutions like Coinbase and traditional financial software like QuickBooks. (Source link)

Chain Catcher news, blockchain infrastructure Coral announced the completion of a $20 million financing, led by FTX Ventures and Jump Crypto, with participation from Multicoin Capital, Anagram, K5 Global, and other strategic investors.Coral primarily builds the Anchor blockchain development tools and plans to launch an interactive wallet product called Backpack that provides a crypto-native experience through "executable NFTs (xNFTs)." The xNFTs will serve as native applications within Backpack (similar to WeChat mini-programs), allowing users to access on-chain applications, games, or asset portal sites within the wallet. (Source link)

Chain Catcher news, decentralized database infrastructure provider Kwil has completed a $9.6 million funding round, with participants including FTX Ventures, DCG, Blockchange, AlleyCorp, Amplify Partners, SevenX Ventures, Foresight Ventures, and Compute Ventures. It is reported that Kwil's solution allows developers to quickly execute complex queries across datasets and access data from other applications, thereby reducing application development time. (Source link)

According to Chain Catcher, as reported by CoinDesk, FTX Ventures will acquire a 30% stake in SkyBridge Capital as part of its $40 million investment deployment in the Web3 space.Previously, Chain Catcher reported on July 21 that SkyBridge Capital will launch a new fund in September to invest in Web3 and crypto startups, which will engage in venture capital and late-stage equity investments, and will be open to qualified investors. (Source link)

Chain Catcher news, according to The Wall Street Journal, the Sui development team Mysten Labs has completed a $300 million financing round, led by FTX Ventures, with participation from a16z Crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, Lightspeed Venture Partners, Bixin Ventures, and A&T Capital.In July 2022, according to The Information, sources said that the Web3 startup Mysten Labs was negotiating for at least $200 million in Series B financing at a valuation of $2 billion, with investors led by FTX Ventures having already committed at least $140 million to this round. (Source link)

According to Chain Catcher, The Block reports that the crypto regulatory technology company VerifyVASP has completed a $5 million Series A funding round at a valuation of $100 million, led by FTX Ventures, with participation from Peak Capital and Bcharu.It is reported that VerifyVASP was established in 2019 and is headquartered in Singapore. The company provides a member-only closed network that facilitates secure data transmission among members to comply with regulatory rules. According to information on its website, its members include Bybit, Deribit, Crypto.com, FTX, FTX.US, and Huobi. (Source link)