Multicoin: HYPE is the largest holding of its hedge fund and it will not shift to pure AI projects.

PANews October 20 news, according to Bloomberg, Spencer Applebaum, general partner and co-head of venture capital at Multicoin Capital, which manages about $2.7 billion in assets, said that the Hyperliquid token HYPE is the largest holding of its hedge fund, and the relevant tokens were all purchased through the public market. He said that Multicoin will not follow peers such as Paradigm in expanding its investment scope to pure AI and robotics fields, and will continue to focus on crypto assets, adding that many investors are "forcing" a connection between crypto and AI. In addition, Multicoin's $422 million venture fund raised in 2022 has been deployed more slowly due to the decline in startup valuations after the FTX collapse.