Tim Draper established an accelerator to support crypto startups


Investor and billionaire Tim Draper has unveiled Draper Goren Blockchain (DGB), a “venture studio” that aims to accelerate “DeFi innovation” through funding early-stage crypto projects.

The founding partners were entrepreneurs Alan Goren and David Bliznak.

The latter, together with Draper, invested in their previous venture Draper Goren Holm and is a member of the board of directors of the analytical platform LunarCrush and the institutional crypto service Ownera.

Bliznak led the DeFi Totle project, worked for the Coinbase exchange, overseeing corporate products, and also supported Draper Goren Holm.

Over the next ten years, DGB aims to provide between $25,000 and $100,000 to pre-seed stage startups. The studio will place an additional emphasis on partnering with selected projects to create companies from scratch.

“It’s a common cliché that bear markets are builders’ time. There are incredible projects currently being developed that need capital and support. With DGB, we are strengthening our commitment to developing crypto projects that move the industry forward, in anticipation of an influx of millions of new users in the coming months and years,” said Draper.

Speaking to Decrypt, Goren added that he is “sad” to see American crypto entrepreneurs leaving abroad amid heavy regulation. At the same time, those who remained have to face even greater difficulties, he emphasized.

“Our current regulatory framework is crap,” Goren described the current situation in the United States.

However, the investor remains optimistic. The nature of blockchain technology will eventually make “the whims of regulators” obsolete, he said.

Let us remember that in July Tim Draper said that sooner or later the whole world will accept the first cryptocurrency. In the future, Bitcoin will transform the spheres of trade and currencies, the businessman believes.

That same month, Draper repeated his prediction that digital gold would reach $250,000 in 2025. In 2018, an investor first predicted Bitcoin at $250,000 by 2022.

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