ChainCatcher news, the Chief Legal Officer of Variant Fund posted on X yesterday, stating that as U.S. regulators continue to crack down on the cryptocurrency space, many cryptocurrency founders are considering geofencing as a compliance strategy.In short, geofencing means blocking access to a product for people in specific "geographical locations" by creating a virtual "fence" around the product. If a company cannot comply with regulations, such as providing disclosures and KYC, it can serve as a backup compliance strategy.However, Chervinsky added, "Regarding the issue of regulatory uncertainty, this is a rather extreme solution—completely abandoning the U.S. market—but sometimes there is no choice." He noted that geofencing "is an extreme and costly measure to ensure compliance with U.S. laws."

ChainCatcher message, Variant Fund co-founder Li Jin announced on the X platform that she will no longer serve as a general partner of the institution, but will instead take on the role of advisor. She will continue to collaborate with portfolio companies and provide guidance to the team, while stepping back from investments and daily company management. Li Jin stated that this change gives her the time and space to explore other interests that align with her mission, such as broader education, innovation, and technology; as well as pursuing more creative projects.

ChainCatcher news, Bitcoin infrastructure developer Satflow announced the completion of a $7.6 million seed round financing, led by Variant Fund, with participation from Nascent, UTXO Management, Coinbase Ventures, Hash3, CMS Holdings, Asymmetric, Sora Ventures, Memeland, Robot Ventures, and Bitcoin Frontier Fund.Satflow will focus on providing infrastructure for market makers and high-frequency traders, elevating Bitcoin L1 to institutional-grade quality and enhancing decentralization.Satflow stated, "We are currently developing privately, but details on early access will be announced soon."

ChainCatcher news, Jake Chervinsky, the Chief Legal Officer of the cryptocurrency-focused venture capital firm Variant Fund, stated on social media that he sees no reason to believe that the U.S. Securities and Exchange Commission currently views SOL as a non-security. In the Binance case, the SEC does not want to investigate a dozen tokens, which seems to be more of a litigation strategy rather than a change in policy. It is important to note that the SEC still refers to these tokens as securities in other trading cases.

ChainCatcher news, former Messari analyst and Variant Fund investment partner Mason Nystrom announced on social media that he has joined the Pantera Capital investment team.Previous news, Mason Nystrom announced in July 2022 that he joined Variant Fund as an investment partner and will be responsible for investing in early-stage crypto protocols and consumer-focused companies.

ChainCatcher news, according to TheBlock, Variant Fund Chief Legal Officer Jake Chervinsky posted on X that the U.S. Securities and Exchange Commission has just sent a Wells notice to Robinhood. The number of Wells notices they have sent regarding cryptocurrencies in recent months is shocking. It is hard to imagine that the SEC can (or is able to) take such extensive enforcement actions; it seems they are now abusing Wells notices as a form of intimidation, and they are clearly misusing Wells notices to intimidate honest American companies.

ChainCatcher news, Variant Fund Chief Legal Officer Jake Chervinsky stated on social media that the relevant legal issues and policy environment make it more likely that the SEC will reject the Ethereum spot ETF in May than generally expected.At the same time, Chervinsky also noted that this does not mean "the SEC will absolutely not approve."

ChainCatcher news, the crypto venture fund Variant Fund has announced the launch of the inaugural Variant Founder Fellowship, a new three-month cohort-based accelerator program for web3 founders in the earliest stages of their journey. Participants will gain access to a peer network of Variant's founders, builders, and experts who operate at the forefront of cryptocurrency, learn from specialists in web3, and build alongside teams in the Variant portfolio. Applications are now open until April 17, 2023. (source link)

ChainCatcher news, Ethereum scaling project Scroll announces the completion of a $50 million financing round, with investors including Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, Newman Capital, IOSG Ventures, OKX Ventures, and Qiming Venture Partners.According to insiders, this round of financing values Scroll at $1.8 billion. Additionally, data from the crypto data platform RootData shows that Scroll previously raised $33 million in two financing rounds, with past investors including Polychain Capital and Bain Capital Crypto. The new round of financing brings Scroll's total funding to $83 million to date. (Source link)

ChainCatcher news, former a16z partner and Variant Fund founder Jesse Walden tweeted that the crypto fund Variant Fund has purchased "some Nouns NFTs," but did not disclose the specific quantity.In addition, Variant Fund shared the reasons for joining the Nouns community, stating that they believe Nouns is one of the most active and creative communities in the entire Web3 space. Its continuous auction mechanism, the treasury managed by holders and denominated in ETH, as well as the permissionless open tools and CC0 model are the reasons why Variant Fund is optimistic about the project. (source link)