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Crypto VC Firm Archetype Launches $100M Fund to Back Early Blockchain Startup

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New York-based venture capital firm Archetype has raised $100 million for its third fund aimed at backing early-stage blockchain startups, the firm said.

The fund, called Archetype III, is supported by a mix of existing and new institutional investors, including pensions, academic endowments, sovereign wealth funds, and funds of funds.

“Running a concentrated $100M fund lets us be extremely selective and high-conviction with each team,” Ash Egan, founder and general partner of Archetype, told CoinDesk in an email. “We operate with a single goal — to ensure crypto teams are positioned to win by building deep rapport with founders in a way that mega funds structurally cannot.”

Archetype has a track record of early bets that paid off. Privy, a crypto wallet startup in its portfolio, was acquired by Stripe earlier this year.

Another investment, US Bitcoin Corp, completed a merger with Hut 8, a move that brought the company into a joint venture tied to Eric Trump’s American Bitcoin project.

The firm currently manages around $350 million in assets, including sizable stakes in Solana and Ethereum, according to the document.

While specific investments from the new fund haven’t been disclosed, Archetype said several deals have already been made. The firm plans to focus on founders building real-world use cases that could bring crypto to broader consumer markets.

Egan, commenting on potential barriers still holding back cryptocurrency adoption, told CoinDesk there’s “no silver bullet for mainstream crypto adoption, but the end game is to deliver products that are at parity with their Web2 alternatives while making them better aligned with users and creators.”

Still, he added, the firm works “shoulder to shoulder with our founders, we spend hours on end studying how new behaviour and technologies can be packaged into the best experiences for everyday users.”

UPDATE (Sept. 23, 2025, 19:17 UTC): This article has been updated with comments from Ash Egan, founder and general partner of Archetype.



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Chancellor of the Exchequer Rachel Reeves (Jordan Pettitt - WPA Pool/Getty Images)
Crypto Trends

CleanSpark (CLSK) Shares Rise After Getting $100M Bitcoin-Backed Credit From Coinbase Prime

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Bitcoin mining company CleanSpark (CLSK) has secured a new $100 million credit facility with Coinbase Prime, giving it access to fresh capital without selling its bitcoin holdings or raising equity.

The shares rose nearly 6% in post-market trading, after the announcement on Monday.

The mining company will use the proceeds for strategic capital expenditures, including expanding CleanSpark’s energy portfolio, scaling its bitcoin mining operations, and investing in high-performance computing (HPC) capabilities, the company said in a press release.

Rather than selling bitcoin to raise cash or selling additional shares of the firm—a move that can dilute the current shareholders—CleanSpark is using the asset as collateral to keep growing while holding on to what it mines.

“Delivering accretive growth using non-dilutive financing is at the core of CleanSpark’s capital strategy,” said Gary A. Vecchiarelli, CleanSpark’s CFO. “Our ‘Infrastructure First’ strategy has been proven historically and will further enhance shareholder value as we expand into more diversified compute opportunities.”

The new raise comes after recent leadership changes hinted at the miner going beyond just mining bitcoin and diversifying into other revenue opportunities. The focus on HPC isn’t surprising, as more and more bitcoin miners are pivoting into hosting machines that cater to HPC and artificial intelligence computing, which requires a tremendous amount of energy, in their data centers.

Read more: GPU Gold Rush: Why Bitcoin Miners Are Powering AI’s Expansion



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Aria PRIME tokenizes $100M Korean music catalogs
GameFi Guides

Aria debuts $100M music IP tokenization via Story Protocol

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Aria launches Aria PRIME with Story Protocol, tokenizing $100M Korean music catalogs to bring cultural IP into institutional investment markets.

Summary

  • Aria PRIME launches as an institutional platform for tokenized IP
  • First deal brings $100M in Korean music catalogs onchain with Story Protocol
  • Platform plans to expand into other cultural assets like film and art

Aria is moving $100 million in Korean music catalogs onchain through Story Protocol, opening a new market for tokenized cultural IP.

Aria made the announcement on Sept. 22, introducing Aria PRIME, its institutional platform for managing and investing in high-value intellectual property. The launch, done in partnership with Story Protocol (IP) and Contents Technologies, will bring tokenized access to music rights that represent more than half of South Korea’s global music distribution market.

Aria PRIME: turning culture into capital

Film franchises, music catalogs, and other entertainment rights are just a few of the extensive IP portfolios that Aria PRIME is designed to manage. Rights holders benefit from increased liquidity and more transparent ownership structures when these assets are tokenized into fungible units, and institutional investors can access them with the help of blockchain infrastructure.

The Story Layer 1 blockchain, a network designed for IP tokenization, powers the platform. Assets created as Intellectual Property Real-World Assets can be divided into fractional ownership, produce royalties, and be integrated with smart contracts for remix and licensing rights. This design enables both financial utility and new creative models.

Funding and ecosystem growth

Earlier in September, Aria secured $15 million in seed and strategic funding at a $50 million valuation, with support from Polychain Capital, Neo Classic Capital, and the Story Protocol Foundation. The company earns fees from token launches, trading, and IP vault management, but is currently reducing costs to drive adoption.

The $100 million Korean music catalog is Aria PRIME’s first step toward a larger institutional IP market. Cinema, art, and other genres might be added in the future, making cultural intellectual property a scalable financial asset.

By bridging capital markets and entertainment, Aria is positioning IP to function not only as creative output but also as investable capital.



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Crypto Trends

Fellowship PAC Launches With $100M to Advance Crypto Policy Goals

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In brief

  • The PAC says it has lined up more than $100 million to support pro-Trump candidates in upcoming races.
  • FEC records show that the group was registered in August, but filings have listed no receipts or expenditures to date.
  • Its launch comes as crypto political spending grows.

Crypto is once again taking the stage in Washington with the launch of The Fellowship PAC, a new super political action committee that says it has lined up more than $100 million to back pro-Trump candidates.

A document from the Federal Election Commission confirms that the committee filed its statement of organization on August 7, but it wasn’t until Monday that the committee publicly announced its formation. The New York Times first reported the news.

“Transparency and trust is our differentiator,” the committee said in a statement, adding that the PAC aligns with the interests of crypto entrepreneurs, policymakers, and the public, alongside the broader goal of keeping America’s lead in “digital assets and entrepreneurship.”



It’s worth noting, however, that the Fellowship PAC has only filed its registration paperwork so far. The gap between pledged money and official reports leaves questions about how much cash the PAC has actually banked.

Per the filing, no contributions or expenditures have been reported, with the PAC being designated as an “independent expenditure-only political committee.”

Representatives for the committee did not immediately return Decrypt’s request for comments on this point.

The Fellowship PAC outlines a mission to safeguard America’s role as the global leader in digital assets and entrepreneurship.

Its stated focus includes supporting candidates who back predictable rules for crypto, protecting the nation’s competitive edge in technology, and preventing the flight of talent overseas.

The Fellowship PAC’s emergence comes as lawmakers weigh multiple crypto-related bills on Capitol Hill, including those on market structure, while regulators continue to press for stricter oversight of digital assets.

The timing suggests the industry is preparing to defend its position heading into the 2026 midterms, when control of both chambers will be contested.

Political action committees aligned with the crypto industry have been steadily expanding their footprint in U.S. elections, pouring at least $119 million in the 2024 cycle prior to the November elections, according to a study from Public Citizen.

As the polls closed, the total surpassed $300 million, according to a D.C. insider who told Decrypt at the time that many other industries are likely to take note of what the crypto industry has achieved.

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Esports

Viral mom breaks record sprinting 100m barefoot across LEGO track

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A New Zealand mom just sprinted her way into internet history by enduring every parent’s nightmare: stepping on LEGOs barefoot for 100 straight meters.

Guinness World Records has long been home to some of the most bizarre and painful achievements, from the fastest time to roll an orange with your nose to the most tattoos given in 24 hours. But few records carry the same universal sting as running across sharp plastic bricks with no shoes.

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Gabrielle Wall’s attempt wasn’t just for bragging rights, though. The 100-meter track was built from an astonishing 661 pounds of LEGO bricks, all donated by the New Zealand charity Imagination Station. With cameras rolling, she dashed barefoot across the course in just 24.75 seconds, fast enough to set the official Guinness World Record for Fastest 100m barefoot on LEGO bricks.

Most painful world record: 100m LEGO run

Although Gabrielle Wall originally claimed the record in January, her achievement went viral months later when Guinness shared the clip on Instagram. The video quickly exploded, racking up 9.4 million views on Instagram and 5.4 million on TikTok as viewers marveled at her speed and pain tolerance.

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She even drew the attention of brands, including Adidas who offered to give her shoes next time. Others joked, claiming the feat was an “average Tuesday night at bedtime.”

Other’s tried to invalidate the record, saying it wasn’t the same as stepping on a single LEGO brick, or that LEGOs only hurt if you didn’t see them coming. Regardless, this is one record competitors aren’t racing to break.



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ETHZilla breaks ground in DeFi with $100m EtherFi restaking play
Crypto Trends

ETHZilla breaks ground in DeFi with $100m EtherFi restaking play

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ETHZilla is moving nearly a quarter of its massive ETH treasury off the sidelines and into EtherFi’s liquid restaking protocol. The Nasdaq-listed firm aims to generate yield while simultaneously bolstering the security of Ethereum and its growing ecosystem of services.

Summary

  • ETHZilla plans to deploy $100 million of its Ethereum treasury into EtherFi’s liquid restaking protocol.
  • The move represents nearly a quarter of the company’s 102,246 ETH holdings and its first engagement with DeFi.
  • The Nasdaq-listed firm said it aims to boost treasury yields while supporting Ethereum’s network security.

According to a press release dated September 2, the company plans to deploy approximately $100 million worth of its Ether (ETH) holdings into the EtherFi protocol. The allocation, representing a significant portion of its 102,246 ETH treasury, marks ETHZilla’s inaugural move into decentralized finance protocols.

For a publicly traded entity to engage in liquid restaking, a strategy that involves pledging assets to secure additional services built on Ethereum, signals a growing sophistication and risk tolerance among corporate treasuries.

“Their (ETHZilla) commitment highlights the growing institutional confidence in decentralized protocols and showcases a truly unique method to bridging traditional finance with the innovative power of the Ethereum ecosystem. We are proud to work with ETHZilla to demonstrate the significant value that liquid restaking can bring to forward-thinking treasuries.” EtherFi CEO Mike Silagadze said.

ETHZilla’s foray into liquid restaking

Per the release, ETHZilla is deploying the funds into EtherFi’s liquid restaking protocol to generate higher yields while reinforcing Ethereum’s network security. The partnership represents ETHZilla’s first engagement with decentralized finance protocols, with Executive Chairman McAndrew Rudisill framing it as both a step toward innovation and a measured exercise in prudent asset stewardship.

The company began accumulating Ethereum steadily earlier this year, with total holdings reaching 102,246 ETH at an average acquisition price of $3,948.72, representing roughly $456 million.

This positions the company with a substantial unrealized gain on its core treasury asset. In addition to its crypto holdings, the ETHZilla maintains a war chest of roughly $221 million in USD cash equivalents, providing significant liquidity for future maneuvers or to cover operational expenses without needing to liquidate its ETH position.

A review of the firm’s weekly capital summary captured in the release reveals a period of intense accumulation that has now seemingly paused. After buying 7,600 ETH in the week ending August 24, the company’s ETH acquisition dropped to zero last week, suggesting it had reached its initial accumulation target and was preparing to shift from buying mode to deploying mode. 



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Canadian Firm Luxxfolio Plans $100M Boost For Litecoin Treasury
Crypto Trends

Canadian Firm Luxxfolio Plans $100M Boost for Litecoin Treasury

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Canadian crypto firm Luxxfolio Holdings Inc. plans to raise up to CAD$100 million (approximately US$73 million) through a shelf prospectus to expand its Litecoin-focused treasury strategy. The filing allows the company to issue shares, debt, or other securities over the next 25 months.

Building infrastructure around Litecoin

Luxxfolio shifted its treasury from Bitcoin to Litecoin earlier this year, calling the cryptocurrency “hard currency.” CEO Tomek Antoniak stated that the funds would help expand the company’s infrastructure and support merchant payments, stablecoins, and crypto wallets. The company has been steadily acquiring Litecoin, aiming to hold 1 million LTC by 2026.

Luxxfolio is struggling financially. In Q2 2025, it lost $197,000, up from just $8,000 in the same quarter last year, as per their report. Luxxfolio ended the quarter with just $112,000 in cash and relied on a private placement of $844,000 to stay operational. Since 2017, the company has recorded nearly $19 million in losses.

Industry experts caution that simply holding Litecoin is not enough. Mehow Pospieszalski, CEO of American Fortress, said institutions look for adoption, compliance, and usable infrastructure, not just price gains.

MEI Pharma makes a major move into Litecoin

Meanwhile, U.S.-listed pharmaceutical firm MEI Pharma (NASDAQ: MEIP) has acquired $100 million worth of Litecoin, making it the first American company to adopt LTC as its main treasury asset. 

Between July 30 and August 4, MEI bought 929,548 LTC at an average price of $107.58. With Litecoin now trading around $124, the holdings are worth roughly $115 million.

The acquisition was structured as a private investment in public equity (PIPE) deal led by crypto capital markets firm GSR, which will also act as MEI’s digital asset treasury manager and strategic advisor. MEI plans to sell 29.2 million shares at $3.42 each, closing around July 22, 2025. 

Alongside Luxxfolio, MEI’s move highlights a rising trend: companies are increasingly holding altcoins like Litecoin in their treasuries, a strategy that could pique institutional interest when these cryptocurrencies prove useful in the real world.

Also Read: DeFi Dev Corp Expands Solana Treasury With $77M Purchase



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A global input requires transparency
NFT Gaming

AI industry pledges $100m to Super PACs, copying crypto’s political playbook

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Tech billionaires, including Andreessen Horowitz, Greg and Anna Brockman, already pledged $100 million to change AI regulation in the U.S.

Summary

  • The AI industry is putting $100 million into influencing U.S. policy on AI
  • Andreessen Horowitz, Greg, and Anna Brockman are among the backers
  • The move comes after the crypto industry’s success in the November 2024 elections

The AI industry is copying the crypto playbook, hoping to shape U.S. regulation in the coming years. On Monday, August 25, a group of major AI firms and tech billionaires launched the Leading the Future platform, set to influence regulations around AI technology.

With funding that already reached $100 million, the organization will lead federal and state Super PACs, funding candidates with a pro-AI agenda and opposing others. These Super PACs will target races in both primary and general elections.

The organization will also focus on drafting policy proposals, lobbying, and rating lawmakers on their voting track record. What is more, they will also engage in public relations, aimed at changing the public’s perception of the AI industry.

Supporters of the platform include Andreessen Horowitz, Greg and Anna Brockman, AI firm Perplexity, Ron Conway from SV Angel, and Joe Lonsdale from 8VC.

AI industry copies crypto’s playbook

Leading the Future’s playbook largely reflects that of crypto groups, such as Fairshake, which was the largest Super PAC in the 2024 elections. Notably, Andreessen Horowitz was one of Fairshake’s major backers, while others included industry giants such as Coinbase, Ripple Labs.

Fairshake used more than $200 million in funding to support pro-crypto political candidates while opposing those that don’t align with the industry. By the group’s own standards, the results were a resounding success. After the November 2024 elections, over 250 pro-crypto candidates joined Congress. Most of the new pro-crypto candidates were Republicans, and the Super PAC managed to oust some long-time incumbents.



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China Renaissance Buys $100M In BNB – Expands Crypto Partnerships
NFT Gaming

China Renaissance Buys $100M In BNB, Expands Crypto Partnerships

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BNB is entering a new phase of adoption after a landmark announcement from China Renaissance, a Hong Kong-listed investment bank with deep institutional influence. On August 22, 2025, the bank’s board of directors revealed that it had signed a memorandum of understanding (MoU) with YZi Labs, allocating $100 million toward Binance’s token. This initiative marks a strategic step in bridging the gap between traditional financial institutions and the crypto market, positioning BNB as a gateway for broader adoption in regulated environments.

The agreement outlines a cooperative framework that seeks to empower the Binance Chain ecosystem with China Renaissance’s financial expertise and access to high-quality investment opportunities. In turn, the bank expects to leverage BNB’s ecosystem for new business applications, signaling a mutually reinforcing relationship.

This announcement builds on the company’s earlier disclosure in June 2025 of its intent to pursue cryptocurrency investments. By formalizing its commitment with a large-scale allocation, China Renaissance is not only validating BNB as a viable institutional asset but also setting a precedent for other financial players in Asia and beyond. The partnership could prove pivotal in enhancing BNB’s role within global markets, where regulatory clarity and institutional credibility are key drivers of adoption.

BNB Surges As China Renaissance Commits $100M

Binance co-founder and former CEO, Changpeng Zhao, highlighted the significance of the deal, stating: “China Renaissance, a HK public company, buying $100m USD worth of BNB. In addition to buying BNB, many other long-term strategic partnerships are involved. Let’s build the ecosystem together!” His words reinforced the strategic importance of this cooperation, which goes beyond a simple investment and points to structural growth for BNB in regulated markets.

The immediate market reaction was explosive. The price surged to a new all-time high of $899, marking a milestone in its history. This price action reflects renewed confidence in the asset’s long-term prospects, especially as partnerships deepen and institutions signal commitment.

Related Reading: Dormant Bitcoin Whale Awakens: BTC OG Rotates Into $577M ETH Long

For BNB, the timing could not be more significant. While other altcoins are facing volatility, the chain is showing resilience and growth capacity. With China Renaissance’s institutional backing, and additional strategic partnerships in development, the token appears poised not just for price appreciation but also for broader adoption as a utility and infrastructure asset in global markets.

Price Analysis: Testing Uncharted Territory

Binance coin is showing strong bullish momentum, breaking into new all-time highs with its latest rally. On the weekly timeframe, BNB is trading at $898.29, closing in on the psychological $900 level after surging nearly 5% this week. This push comes right after the announcement of China Renaissance’s $100M allocation into BNB, fueling confidence among institutional and retail investors alike.

BNB reaching new ATH | Source: BNBUSDT chart on TradingView

From a technical perspective, BNB’s trend remains intact, with the 50-week SMA at $654 and the 100-week SMA at $544 providing long-term support. The current distance between price and the moving averages highlights the strength of this parabolic move, but also signals caution, as extended gaps often precede periods of consolidation.

The price has broken decisively above its previous resistance zone at $780–$800, turning it into new support. If this level holds, the path toward $950–$1,000 opens up, supported by growing ecosystem developments and institutional demand. Structure signals continued strength, with institutional backing adding fuel to its breakout and positioning it for further upside in the coming weeks.

Featured image from Dall-E, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Bitcoin Miners Hit by $100M Tariffs
Crypto Trends

Bitcoin Miners Hit by $100M Tariffs

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The Bitcoin mining industry is squarely in the crosshairs of the US-led trade war, with publicly traded miners receiving hefty invoices from US Customs and Border Protection (CBP). Yet, in a twist, a mining venture backed by US President Donald Trump’s family secured more than 16,000 rigs from China’s Bitmain without incurring additional duties.

Beyond mining headwinds, the broader blockchain sector is intensifying efforts to court Wall Street as institutional adoption accelerates across exchange-traded funds, corporate treasuries and tokenized real-world assets. Ether (ETH) treasury firms are also ramping up accumulation, while reports suggest China may be preparing to greenlight yuan-backed stablecoins.

This week’s Crypto Biz newsletter explores these developments, highlighting The Miner Mag’s latest findings, Polkadot’s new capital markets division, SharpLink’s major ETH purchase and Beijing’s potential stablecoin pivot.

US Bitcoin miners face $100M+ tariff hit

The US Bitcoin mining industry has been swept into President Donald Trump’s trade war, with public miners CleanSpark and IREN warning of potential tariff liabilities of $185 million and $100 million, respectively, according to The Miner Mag.

Both companies said they received invoices from US Customs and Border Protection, which alleged that certain mining rigs were of Chinese origin. Under the White House’s revised tariff schedule, equipment sourced from China is now subject to an effective duty of 57.6%.

Beyond tariffs, The Miner Mag noted that mining revenues “remain under pressure,” with transaction fees slipping below 1% of block rewards.

Production data for July showed IREN and Mara Holdings each mined more than 700 BTC, while CleanSpark and Cango generated over 600 BTC apiece.

Source: The Miner Mag

Polkadot establishes capital markets division

Polkadot has launched a new capital markets division aimed at attracting institutional investors to its blockchain — a move that underscores the industry’s growing effort to court Wall Street.

The new entity, Polkadot Capital Group, is based in the Cayman Islands and was established in response to rising institutional demand for digital assets, the company said. It also pointed to recent positive regulatory signals in the United States as a catalyst for the launch.

Polkadot Capital Group will focus on showcasing blockchain use cases across decentralized finance, staking and real-world assets, while helping traditional finance players explore crypto opportunities in areas such as asset management and banking. 

Polkadot is the 24th largest blockchain by market capitalization with a total value of around $6 billion.

China reportedly weighs yuan-backed stablecoins

Despite its sweeping restrictions on digital assets, China is reportedly considering allowing the development of yuan-backed stablecoins — a potential policy shift that would mark a major reversal for the world’s second-largest economy.

Citing sources familiar with the matter, Reuters said authorities in Beijing are open to approving yuan-backed stablecoins as part of a broader strategy to expand the currency’s role in global trade. Such a move would represent a sharp departure from the country’s stance nearly four years ago, when it effectively banned crypto trading and mining.

The reports come as stablecoin adoption surges elsewhere, particularly in the United States, which recently passed the GENIUS stablecoin bill. The total value of stablecoins in circulation has now surpassed $288 billion, with US dollar–backed tokens accounting for the overwhelming majority.

SharpLink bags another $667M ETH

SharpLink, a sports betting firm that has adopted Ether as a treasury asset, added 143,595 ETH as the token approached all-time highs, according to regulatory filings.

The purchase, valued at $667.4 million, brings SharpLink’s total holdings to 740,760 ETH — worth roughly $3 billion at current market prices.

Even with the massive haul, SharpLink is not the largest Ether treasury holder. That title belongs to BitMine, which acquired 373,000 ETH on Monday, lifting its total holdings to 1.52 million ETH, valued at about $6.5 billion.

While ETH has corrected lower this week, the asset remains one of crypto’s top performers, having gained nearly 200% since its April low.

Source: SharpLink

Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.



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