A cryptocurrency investment fund has launched in the Triangle – Axios

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Durham entrepreneur Ryan Bethencourt, CEO of the plant-based dog food company Wild Earth, has launched a new investment fund focused on "Web3" startups in the Triangle.

Why it matters: Bethencourt believes the Triangle could birth several companies in the cryptocurrency or NFT space in the next two years.

Details: Bethencourt has a long history of launching investment funds, like Sustainable Food Ventures. He will be Layer One's partner, navigating what investments the fund makes.

Yes, but: The fund is launching at a trying time for cryptocurrencies. Much like the stock market, crypto prices have declined this year, with Bitcoin notably falling more than 50% from its high in November 2021.

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A cryptocurrency investment fund has launched in the Triangle - Axios