Blockchain Capital is raising $700M across two new funds per Bloomberg's sources, roughly 21% above the $580M it closed in September 2023 ($380M sixth early-stage fund + $200M opportunities fund). The firm manages over $2B AUM and recently led Paxos Labs' $12M spinout round earlier this month. The scoop lands as crypto VC fundraising thaws — Dragonfly just closed $650M for fund IV in February, and a16z crypto is reportedly targeting ~$2B for its fifth fund.

TLDR by @Benthic

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