Gemini receives investment from new group of crypto industry leaders
The Blockchain Infrastructure Alliance, whose members include Polygon, Avalanche, Alchemy Pay, NEAR, and Algorand, has announced a strategic investment in Gemini, one of the world’s largest and most trusted exchanges. Both BIA and Gemini share a common vision for decentralized cryptocurrency as the basis for positive innovation in the world and this investment represents the first time the two have come together. BIA’s investment in Gemini has been done via Draper Dragon, a BIA member and venture capital fund co-founded by the renowned crypto investor and advocate, Tim Draper.
This investment in Gemini is part of the Blockchain Infrastructure Alliance’s wider investment scheme that promotes the expansion of decentralized technology and communities. After BIA’s first funding round raised USD $50M from its members, the high profile members have already identified a number of projects (tba) that require investment and nurturing in order to fulfill their potential.
BIA seeks to promote collaboration within the blockchain to drive forward the concepts of decentralization for the societal good. BIA’s belief that decentralized finance, within the framework of regulatory compliance, will make a significant contribution to personal freedom and sovereignty aligns wholly with the vision of Gemini. The fully regulated exchange states that cryptocurrency has the capacity to reform the internet, the financial system, and money in a way that fosters and protects the rights and dignity of the individual.
The Blockchain Infrastructure Alliance was conceived by Alchemy Pay and was immediately welcomed across the industry, bringing on board many leading entities since its founding in Q4 of 2021. Together, the members are aiming to solve industry challenges and promote cooperation between networks, dApps, crypto exchanges, DEXs, wallets, stablecoins, fiat payment rails, merchant networks, and more.
As well as the incubation of promising new projects, the BIA’s initiatives will benefit the likes of developer tooling and documentation, open-source libraries, research & development, decentralized applications with open source components, educational materials for developers, and interoperability solutions. BIA has also made a commitment to stimulating public debate about decentralization with its Decentralized Discourse series. The series began with an interview with former Chief Economist of the International Monetary Fund and MIT Professor of Entrepreneurship, Simon Johnson.
The new year promises many developments for both BIA and Gemini. The exchange’s public listing is anticipated by many following suggestions by the Winklevoss twins, themselves, and the successful listing of Coinbase last year. BIA will continue to expand membership and, in doing so, provide blockchain with a united front that promotes adoption in a powerful, cohesive way.
About the Blockchain Infrastructure Alliance
The Blockchain Infrastructure Alliance (BIA) brings together the leaders, innovators, and experts who are shaping the blockchain industry. BIA creates mutually beneficial synergies between members across all areas of blockchain technology; bridges the gaps and creates a powerful, connected blockchain world; funds blockchain research and nurture projects that seek to optimize decentralized finance and initiatives; all with the mission to shape a better world.