TechFlow News — According to The Information, Bill Qian, former head of Binance Labs, has joined Dubai-based cryptocurrency investment firm Cypher Capital as Chairman. Qian will oversee the management and operations of Cypher Capital. He said the firm primarily focuses on token investments, which are popular among founders of blockchain startups because they give investors ownership in the technology without diluting the founders' equity. As Reuters reported in March, Cypher Capital announced a $100 million blockchain fund, with $40 million reserved for the Indian market, and aims to manage $1 billion in assets by 2025.
Bill Qian told reporters, “I will have a very high degree of autonomy here—not only managing our internal capital but also raising funds to become a leading regional crypto asset management firm and investor. That’s why, in the end, I chose the Cypher team.”
