Content language
flag Vietnamese
flag Vietnamese
Tiếng việt
flag English
Channel logo
Coin98 Insights
Copy link

Elon Musk bought Twitter for 44 Billion USD

This is "Fundraising Spotlight" series, which aims to give you an overview of the 10 biggest investment deals in the past week with basic information and development goals of the projects.
Published May 07 2022
Updated Sep 19 2023
8 min read

Highlights: Elon Musk bought Twitter for 44 Billion USD, J◎e McCann-Asymmetric and the $1 B commitment, and more.

Overview of investment & funding activities in week 18

In the TOP 10 most famous investments & sponsorship deals in the past week, we have:

  • 3 blockchain games: Apeiron, Untamed Planet and Cometh
  • 2 Investment funds: Asymmetric and Dragonfly Capital
  • 2 wallets: Argent and Venly
  • 1 Blockchain/L2: Nym Technologies
  • 1 project about Yield Farming: Ondo Finance
  • 1 DEX: Tonic DEX

Company and Venture Capital fundraisings

Elon Musk bought Twitter for 44 Billion USD

Highlights of the deal

In the past week, the whole world has been in awe of the event that billionaire Elon Musk bought Twitter with a huge amount, $ 44 B. But besides the money that Elon Musk stood out to pay, there are also 19 large companies and individuals that have also committed to co-invest with the billionaire Elon Musk this time.

Big companies and individuals joining Elon Musk:

  • Binance: The world's largest cryptocurrency exchange.
  • Sequoia Capital: An American venture capital firm. The company is headquartered in Menlo Park, California and is primarily focused on the technology industry. It is the most active venture fund company in the Indian market in 2019.
  • Lawrence Joseph "Larry" Ellison is an American magnate, co-founder and chief executive officer of Oracle Corporation, specializing in management software. He is also a billionaire with a net worth of up to $100 B.
  • There are also many prominent names in this deal such as Qatar Holding, Fidelity with an investment of up to billions of dollars.

Purpose of the acquisition of Twitter: Elon Musk decided to buy Twitter to turn the platform into a place of free speech. It is currently unclear what Elon Musk's next steps will be with Twitter after he and many others bought the social platform out.

elon musk bought twitter

Je McCann-Asymmetric and the $1 B commitment

Who is Joe McCann?

Joe McCann is a famous linguist in the crypto market. He is a trader at Passport Capital. He is also a professional developer at Microsoft. Joe McCann recently founded the venture capital fund of Asymmetric Funds. Asymmetric will focus on investing in the cryptocurrency market. It is expected that Asymmetric will manage $1B of capital, similar to Katie Haun's Venture Capital Fund.

Famous Venture Capitals participating in the funding round:

  • Anatoly Yakovenko: Founder of Solana blockchain. He is also one of Solana's main factors.
  • Marc Andreessen and Chris Dixon: CEO and General Partner of a16z.

Dragonfly Capital and its $650 M fund 

What is Dragonfly Capital?

Dragonfly Capital is a cryptocurrency investment fund founded in 2018, headquartered in San Francisco, California. Dragonfly Capital's goal is to gather the leading projects in the decentralized economy, invest and support project construction, bringing the best projects to the Dragonfly Capital ecosystem.

Famous Venture Capitals participating in the funding round:

  • Tiger Global Management: An American investment company. It mainly focuses on Internet technology, software, consumer and financial industries.
  • KKR: An American global investment firm that manages a wide range of assets, including: private equity, energy, infrastructure, real estate, credit. The company has completed more than 280 private equity investments in portfolio companies with a total enterprise value of approximately $545 B as of June 30, 2017.

Purpose of the Fund: The newly established fund will be named Dragonfly Fund III. The size of this new Fund bundle puts Dragonfly in the same league as Sequoia Capital and Bain Capital. Dragonfly Fund III will continue to invest in new projects. At the same time, it will continue to support and contribute to projects that have been invested in.

Dragonfly Capital

Projects that already have Tokens

Projects already have Tokens and still receive additional investments proves that they have new products, new segments, and need more money to develop. This news will greatly affect the nature and price of the tokens, so please refer to it for more investment perspectives.

Nym Technologies (NYM) launches $300 M developer fund

What is Nym Technologies?

Nym Technologies is a platform built to protect privacy by creating secure infrastructure that can end any 3rd party or government surveillance of personal data of users. Nym uses a mixnet mechanism, which is specifically called NYM Mixnet. The Blockchain also has a token with the ticker NYM, which was recently listed on the exchange.

Famous Venture Capitals participating in the funding round:

  • Polychain Capital: One of the largest hedge funds in the cryptocurrency market, established in 2016 with more than $2 billion under the fund's management.
  • Andreessen Horowitz (a16z): An investment fund founded in 2009 by Marc Andreessen and Ben Horowitz. This is an investment fund operating in Silicon Valley, California and focusing on investing in technology startups. The Fund is also a well-known market maker.

Purpose of the Fund: This Fund package is called Nym Innovation Fund. It will be used to encourage developers who are building on NYM. Grants will be as small as $50K and can go up to millions of dollars. Applications for the Nym grant will be evaluated and approved by experts in the crypto industry.


Ondo Finance (ONDO) raised $20 M

What is Ondo Finance?

Ondo is a project about yield farming. Ondo allows users to farm and make profit on its platform. Ondo has two types of farm: Fixed Tranche, a safe place to farm and earn up to 50.02% profit, and the other type is Variable Tranche, a more risky option with impermanent loss but in return, it has the APY of up to 282.38%.

Famous Venture Capitals participating in the funding round:

  • Pantera Capital: A popular investment fund led by Dan Morehead, Pantera has invested in more than 80 large and small blockchain companies and 65 seed stage projects.
  • Founders Fund: A venture capital firm based in San Francisco. Founded in 2005 by Peter Thiel, Founders Fund has over $11 billion in total capital under management as of 2022.

Goals after the funding round: The capital will be used to further develop the infrastructure for Ondo. Ondo plans to expand its human resources to 20 people across many fields.

token sale ondo

Apeiron (APRS) raised $13.5 M seed round

What is Apeiron?

Aperion is a play-to-earn game. Aperion is played as God-games, similar to Populous or Black & White games. This game uses a tri-token mechanism, with the governance token being APRS. In the past week, Apeiron has successfully raised $13.5 M in a seed round.

Famous Venture Capitals participating in the funding round:

  • Hashed: A preeminent Blockchain investment company founded in 2017, from Seoul, Korea with a portfolio spanning the globe. Hashed's mission is to accelerate blockchain adoption by investing their resources in potential projects.
  • Morningstar Ventures: A Venture capital fund that helps support and fund early-stage blockchain startups. The company is headquartered in Dubai, United Arab Emirates and is primarily focused on startups in the blockchain and digital asset industries.

Goals after the funding round: With the capital poured in by investors this time, Apeiron will dedicate itself to building the first God-games blockchain game. Apeiron is expected to be launched in the fourth quarter of this year.

Cassava Network (CSV) raised $8 M

What is Cassava Network?

Cassava is a protocol that specializes in developing reward tokens for users, which is considered a breakthrough protocol and has the ability to change the perception of African users. Cassava combines the security of blockchain technology with an innovative reward system powered by a decentralized financial market, to create a dedicated ecosystem of rewards for users and developers. project.

Famous Venture Capitals participating in the funding round:

  • Arcanum Capital: Seed stage investment fund. This fund focuses on funding seed projects in the blockchain market. This is a newly established investment fund but has had 41 investments, such as Arcana Network, Indi GG or Kudo Money.
  • Coin98 Ventures: Coin98's venture capital arm.

Goals after the funding round:  Funds will be used for the next milestones of Cassava. The immediate future will be to develop the NFT project and get ready for the upcoming NFT launch. At the same time, Cassava will continue to look for more potential partners in the same field.

Projects without tokens

Projects that do not have Tokens and are invested in may be able to develop and build their basic foundations.

For the project itself, the supporters in this phase are very meaningful to them, so the list below may not help you in investing, but it helps in choosing potential projects to learn about. You can look for opportunities such as participating in Testnets, IDOs,...

Argent raised $40 M in Series B

What is Argent?

Argent is a digital wallet for the Ethereum blockchain. Although built for Ethereum, Argent wallet has extremely fast transaction processing speed thanks to zkSync’s technology. In addition to storing and selling tokens via banking or Visa card, Argent also allows users to stake ETH, USDT or DAI with an annual interest rate of up to 10%. Argent also has a wallet for the StarkNet ecosystem called Argent X.

Famous Venture Capitals participating in the funding round:

  • Fabric Ventures: A venture capital fund built and established in 2012. The fund operates under its own investment thesis. Fabric has had numerous investments in crypto projects, including Coinbase and Polkadot at a very early stage.
  • Metaplanet: Early stage investment fund. In addition to pouring capital, Metaplanet highly appreciates the formal training of the founders of that project and builds with them. Up to now, Metaplanet has raised 144 times, covering many areas such as health, AI, Biotech and Crypto.

Goals after the funding round: The capital will be used for Argent to expand its operating area, bringing Argent to many parts of the world. It will also be used to improve the product, add more use cases for Argent and Argent X wallets.

Untamed Planet raised $24 USD

What is Untamed Planet?

Untamed Planet is a novelty game built on Solana. Untamed Planet is inspired by nature and the wildlife world. For the purpose of promoting the protection of wild nature, players will play the role of a character, surrounded by animals and majestic nature. In the past week, the game has successfully raised $24 M.

Famous Venture Capitals participating in the funding round:

  • Animoca Brands: A Leader in the blockchain gaming market. As a publisher for big, familiar games on blockchain such as REVV Racing, The Sandbox,  Animoca Brands also regularly pours large capital into blockchain entertainment startups.

Goals after the funding round: The capital will be used to continue building Untamed Planet. Currently, Untamed Planet developers are working with Animoca Brands subsidiary to create the game. There is no specific information about the launch time of Untamed Planet.

Venly raised $23 M in Series A

What is Venly?

Venly is a multichain wallet with many useful and special features. In addition to storing and buying and selling NFT, Venly also has an infrastructure system for developers to build and connect their games to Venly easily. Many NFT projects have used Venly such as The Sandbox, CryptoPick or Ethermon.

Famous Venture Capitals participating in the funding round:

  • Courtside Ventures: A Venture capital fund in the US, mainly investing in early stage projects, focusing on sports, technology and media.
  • Coinbase Ventures: The investment arm of the Coinbase exchange.

Goals after the funding round:The capital will be used to develop Venly. Venly will focus on building a number of new products, with the target audience being projects in the fields of Web 3, gaming and e-commerce.


This is the end of the TOP 10 most outstanding investment deals in the past week. Hopefully, through this article, you will have an overview of the projects that have raised capital during the week.