Huobi Global is bolstering flagging DeFi with $1 billion in venture capital

Major crypto exchange Huobi Global has launched a new investment fund focused on Decentralized Financial Services (DeFi) and Web3. At the same time, the trading platform provides evidence that new venture capital is still flowing into the crypto market.

The investment fund, dubbed Ivy Blocks, has $1 billion in cryptocurrency assets, a Huobi spokesman has confirmed. The corresponding funds are to be provided primarily for “investments in promising blockchain projects”.

In addition to the mere investments, Ivy Blocks should also support the selected crypto projects via an asset management platform, a blockchain incubator and a separate market research department. The asset management platform is also designed to help DeFi and Web3 projects with investments to provide liquidity so they can take their business operations to the next level.

According to Ivy Blocks, Project Capricorn Finance, an automated market maker based on the Cube blockchain, will be the first to benefit with new funds.

Huobi's focus on DeFi comes as the decentralized financial services sector has fallen in value by more than half. Measured by the Total Value Locked (TVL), i.e. the entirety of the assets invested in DeFi, the industry is currently worth a little less than 133 billion US dollars. In December, a whopping 316 billion US dollars were still on the table.

The massive slump in DeFi shows how hard the so-called “Crypto Winter” is hitting the industry in the current year. However , observers point out that persistent downturn phases generally always have a “cleansing” effect, in that projects with inadequate business models are flushed out of the market.

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