Lightspeed Faction Unveils $285M Fund for Blockchain Innovation

Lightspeed Faction, a leading venture capital firm with a focus on blockchain, has announced the launch of a $285 million venture fund, according to PR Newswire. This fund is earmarked for early-stage blockchain projects, signaling a significant commitment to advancing crypto technologies.

The newly established fund by Lightspeed Faction is poised to play a pivotal role in the blockchain sector. It aims to invest primarily in early-stage projects, offering not only financial backing but also expert guidance in areas such as tokenomics and business scaling. This initiative comes at a time when the industry is experiencing a shift, with many investors withdrawing from the crypto space.

Lightspeed Faction’s team, composed of experts from Amber Group,, and Coinbase, brings a wealth of experience to the venture. Their crypto-native insights are expected to be invaluable for the emerging blockchain entrepreneurs they will support.

This venture is a collaborative effort with Lightspeed Venture Partners, blending Faction’s exclusive focus on crypto with Lightspeed’s extensive experience in Silicon Valley and business scaling. Despite the collaboration, Faction maintains its independence, with its own dedicated LP base and complete control over the investment decisions for the $285 million fund.

Co-Founder and General Partner Banafsheh Fathieh emphasizes Faction’s deep belief in the transformative potential of crypto. The firm is set to invest in a wide array of blockchain projects that promise to revolutionize sectors like finance and telecommunications. Faction’s investment strategy extends beyond financial returns, including fostering projects with significant societal impacts.

Faction has a history of investing in diverse blockchain projects, even during market downturns. Its portfolio includes Crossmint, Lens,, and others. The founding partners, Samuel Harrison and Banafsheh Fathieh, have a combined experience of deploying over $500 million in the blockchain and venture capital space, backing major industry players.

Samuel Harrison, Co-Founder and Managing Partner, highlights Faction’s commitment to being a collaborative partner throughout a project’s lifecycle. He underscores the potential of blockchain to bring about positive societal changes, such as more efficient and transparent financial services.

As a leading blockchain-native venture capital firm, Lightspeed Faction is uniquely positioned at the intersection of Silicon Valley venture capital expertise and deep blockchain knowledge. The firm focuses on early-stage startups in their Seed or Series A funding rounds, with a strong commitment to advancing the crypto industry and society.

Lightspeed Venture Partners, a multi-stage venture capital firm, has been instrumental in fostering innovations across various sectors. With a global team and $25B in AUM, Lightspeed has been a key player in the growth of over 500 companies worldwide.

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Vietnam Blockchain Association Signs Strategic Partnership with Binance To Drive Blockchain Innovation

The Vietnam Blockchain Association and Binance crypto exchange co-announced on Monday for establishing a strategic partnership. 

Through this strategic partnership, The Vietnam Blockchain Association and Binance will collaborate in the exchange of research and application of Blockchain technology and human Resource training in Vietnam.

The Blockchain application is set to further build more resilient and prosperous lives for Vietnamese users through greater access to financial, business, and technology services.

Two parties will also leverage each other’s network and expertise to advance the development of blockchain technology in Vietnam and build a bridge with other major tech firms around the world.

Mr. Changpeng Zhao, the CEO of Binance exchange, talked about the collaboration and said: “And today, along with the active activities of the Vietnam Blockchain Association, I pledge that Binance will always comply with Vietnamese laws and put users in focus.”

Mr. Phan Duc Trung, Vice President of the Vietnam Blockchain Association, also commented on the development and said that he hopes that the partnership between Binance and the association will bring value to the business community in Vietnam. He further stated that the collaboration will assist in developing a workforce mastering high technology and contributing policy advice to the government’s management agencies.

Trung further said: “In its role, the Association connects and gathers the Blockchain community in the country and a bridge to bring Vietnamese products to the world and attract more international resources to Vietnam. The Association also promotes personnel training and attracts international investment into Vietnam.

High Demands for Blockchain

The Vietnam Blockchain Association, a government entity which launched last month, aims to promote the nation’s digital economy, develop relationships with blockchain firms and communities around the globe and create favourable conditions for local users to share experiences and resources to research, test, apply, and trade blockchain technology in accordance with Vietnamese law.

In recent years, Vietnam has seen the rapid development of Blockchain technology. The number of enterprises, researchers, and engineers seeking to use technology for work has continued to rise. As a result, the need for connection, collaboration, sharing, and support has also continued to increase. This explains the reason why the government formed an official organization with a complete legal entity on May 17 to spearhead the expansion of the Vietnamese Blockchain community.

Vietnam has been a leader in crypto usage for the previous few years. Despite the country’s lack of legal framework for owning, trading, and using crypto coins, the adoption rate of such virtual currencies among its population has been among the highest worldwide (ranked 10th in terms of crypto adoption worldwide). The majority of Vietnamese investors, especially younger ones, are aware of and have expressed positive sentiments towards cryptos as a potential investment.

The Vietnamese government has not banned crypto trading and allows local consumers to hold them as assets. In March, the government announced plans to spearhead research for the implementation of a legal framework governing digital assets.

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