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Tim Draper, founder of Draper Associates, stated that his early decision not to invest in Coinbase was due to his judgment that widespread retail crypto adoption would still take a considerable amount of time, rather than a lack of belief in Coinbase co-founder and CEO Brian Armstrong.Tim Draper revealed that at the time, he had already invested in the early Bitcoin company Coinlab, which is why he initially did not invest in Coinbase. His son, Adam Draper, disagreed with this assessment and wrote the first check to Brian Armstrong. Tim Draper subsequently participated in Coinbase's next funding round. Coinbase was later founded by Brian Armstrong and Fred Ehrsam and grew into a crypto platform, listing on Nasdaq under the ticker symbol COIN.Tim Draper stated that Coinbase has become one of the representative investments of Draper Associates Fund V, with the returns from Coinbase alone nearly doubling the overall size of the fund.
According to an official announcement by Tether, Tether Investments participated in a $134 million financing round for the publicly listed Stablecoin Development Corporation (NYSE American: SDEV), with other investors including R01 Fund LP and Framework Ventures—digital asset-focused investment firms. SDEV positions itself as an on-chain holding company dedicated to building infrastructure for stablecoin payments, transfers, and cross-platform fund flows, aiming to lower user adoption barriers. Globally, the circulating supply of stablecoins has surpassed $300 billion, while last year’s transaction volume reached $33 trillion—exceeding the combined total of Visa and Mastercard. Meanwhile, Tether’s USD₮ user base has grown to 570 million.