ChainCatcher news, according to Fortune, cryptocurrency investment firm Metalayer has filed documents with the U.S. Securities and Exchange Commission (SEC) to establish a $25 million fund focused on investments in the cryptocurrency industry. Sources say that Metalayer completed its initial financing last Friday, securing $20 million in committed capital, and plans to raise the full amount by the end of this year.The three founders of Metalayer are all former executives of Two Sigma Ventures, including former head of digital assets Andy Kangpan. It is reported that Metalayer has invested in three companies, including the synthetic dollar project Ethena, the institutional-only exchange Crossover, and the blockchain clearinghouse Clear Token.Despite a decline in overall cryptocurrency venture capital activity, Metalayer's fundraising is still supported by executives from Two Sigma Ventures and other investors. Industry insiders believe that the establishment of this fund marks a continued warming of venture capital interest in the blockchain sector.

ChainCatcher news, Bitcoin protocol layer Surge announces the completion of a $1.8 million Pre-Seed funding round, with participation from Autonomy, Gerstenbrot Capital, Double Peak Group, Sats Ventures, Vamient Capital, Samara AG, and angel investors including Rushi Manche from Movement Labs, CoinGecko co-founder Bobby Ong, and TM Lee.The new funding will drive the development of its MetaLayer to fully realize Bitcoin's potential as a global currency base layer.Surge stated that it plans to launch its testnet soon.