Seed firm Initialized Capital has raised $230 million for its fifth venture capital fund, the firm announced on Friday. Led by former Y Combinator partner Garry Tan, Initialized’s investments include Coinbase, Rippling, Opendoor and Instacart. The announcement comes roughly two months after Initialized co-founder Alexis Ohanian left the firm to pursue a new project. We’ve since reported the...
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Genesis Creditors Hammer Out Key Restructuring Agreement

Genesis’ creditors, including Gemini, have reached a key agreement with the bankrupt crypto lender and its parent company, Digital Currency Group, for the restructuring of Genesis’ lending unit, according to a person briefed on the deal. Creditor groups that are owed a total of more than $2 billion have for months been negotiating an agreement among themselves and also with Genesis...
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