Live on Bloomberg TV

00:00SHE LED INVESTMENTS IN GAMING IN CRYPTO AND WAS BROUGHT TO LEAD FTX ' S NEW FUND. THANK YOU SO MUCH FOR JOINING US. TO BILLION DOLLARS IS A BIG NUMBER. WHERE DO YOU PLAN TO SPEND IT? AMY: WE ARE SUPER EXCITED TO BE ONE OF THE NEW STRATEGIC FUNDS TO DEPLOY CAPITAL AND THE BROADER CRYPTO WEB STREAM ECOSYSTEM. WE ARE PRETTY EARLY IN THE MARKET. YOU CAN DEFINED BY A NUMBER OF USERS. WE ARE LESS THAN HALF A BILLION USERS, TRADE CRYPTO GLOBALLY, AND FEWER THAN 20 MILLION PEOPLE TRADING, SO WE ARE VERY EARLY. WE WANT TO HELP THE ECOSYSTEM GET TO USERS BEING ON BOARDED. EMILY: THIS MONEY ALL CAME FROM THE FOUNDER AND CEO AND FTX. NORMALLY WHEN YOU RAISE UPON, IT IS FROM OTHER INVESTORS WHO YOU HAVE TO ANSWER TO. HOW DOES THE STRUCTURE OF THIS THEY THINGS DIFFERENT FOR YOU, COMING FROM A TRADITIONAL VENTURE FUND, GIVEN THAT YOU DON ' T HAVE TO ANSWER TO ALL OF THESE? AMY: THE EXCITING THING IS WE HAVE THE SIZE OF FUNDS TO WRITE A LARGE RANGE OF CHECKS, ANYTHING FROM $100,000 TO 500 BILLION-DOLLAR CHECKS. WE ARE ABLE TO WRITE THOSE. ALSO, WITH OUR OUTSIDE PARTNERS AND LPS, WE ARE ABLE TO MOVE FAST AND YOU KNOW REALLY FOCUS ON PROVIDING VALUE, SO OUR EXPERTISE AND RESOURCES ACROSS THE ECOSYSTEM OF PARTNERS, AND FOCUS ON THE FOUNDING TEAM. EMILY: MEANTIME, THEIR IS SO MUCH TALK AND CONCERN FROM NEWER INVESTORS ABOUT THE DIRECTION OF THE CRYPTO MARKET, CONCERNS ABOUT THE WINTER, A DEBT CROSS COMING. WE JUST HAD JOHN WILL -- WU WHO THINKS THE GOLDEN CROSSES HAD. WHERE DO YOU THINK THE MARKET WILL MOVE AHEAD? HOW DOES THAT INFLUENCE WHERE AND HOW YOU PLACE YOUR BETS? AMY: TRADING CRYPTO AND INVESTMENTS IN THE ECOSYSTEM ARE TWO DIFFERENT THINGS. I DON ' T THINK ANYBODY CAN PREDICT WHERE THE MARKET IS GOING ON A SHORT-TERM BASIS AND PERHAPS MEDIUM-TERM, TOO. WE ARE SUPER BULLISH ABOUT THE LONG-TERM TRAJECTORY OF BLOCKCHAIN ADOPTION. WITH THIS FUND, WE HAVE LONG-TERM -- YEARS AND DECADES -- YOU INTO THE TECHNOLOGY CROSS CATEGORY. WEB STREAM CONSUMER, GAMING INFRASTRUCTURE SOFTWARE, HEALTH CARE, AND OTHER CATEGORIES. EMILY: CRYPTO FUNDS SEEM TO BE EVERYWHERE. THERE IS PARADIGM, COINBASE, KATIE HAN LAUNCHING HER OWN FUND. HOROWITZ HAS ITS OWN CRYPTO FUND. ARE ALL OF THESE FUNDS GOING TO BE CHASING THE SAME NAMES, AND IF SO, HOW DO YOU CONVINCE VARIOUS STARTUPS AND FOUNDERS THAT YOUR MONEY IS THE MONEY THEY SHOULD TAKE? AMY: I THINK YOU ARE SEEING A LOT OF DIFFERENT TYPES OF INVESTORS COMING INTO THE CRYPTO MARKET, BECAUSE IT IS A FAIRLY DECENT SPACE. IT REFLECTS THE SIZE OF OPPORTUNITY AND ALSO THE NUMBER OF DEVELOPERS AND FOUNDING TEAMS IN THIS CATEGORY. THERE IS A LOT OF --AND IN TERMS OF RYE THEY SHOULD GO WITH FTX VENTURES, I WOULD SAY WE ARE LAUNCHING WITH EIGHT PEOPLE ON THE TEAM OF INVESTORS AND ENGINEERS. EVERYBODY HAS HAD A SIGNIFICANT AMOUNT OF TIME AND EXPERTISE IN THE SPACE. OUR OBJECTIVE IS TO BE CLOSER AND HANDS-ON WITH TEAMS AND MAKE FEWER INVESTMENTS BUT GO A LOT DEEPER. EMILY: YOU ARE ACROSS OF VERTICAL AND I ' M CURIOUS, HOW DO YOU FIND THE NEXT INFINITY THAT WILL TAKE THE WORLD BY STORM? AMY: YEAH, GAMING IS AN EXCITING CATEGORY FOR US. WITH FTX, IT IS THE LARGEST ENTERTAINMENT CATEGORY IN THE WORLD WITH $200 BILLION PER YEAR IN INDUSTRY AND CONTENT ALONE. GAMERS HISTORICALLY HAVE VALUED IN-GAME DIGITAL ASSETS. THEY REALLY PIONEERED THE VALUE OF THAT. IT IS NATURAL TO THINK THEY WOULD WANT TO OWN THE ASSETS. THERE IS CONTROVERSY AROUND A LOT OF GAMERS WRAPPING THEIR MINDS AROUND THE CONCEPT OF AN FTS. WE ARE SUPER BULLISH AROUND IT. IN TERMS OF FINDING THESE GAME STUDIOS, OUR TEAMS THAT ARE BOTH VERY EXPERIENCED AT MAKING GAMES AND HAVE HAD EXPERIENCE DOING SO, AND ALSO HAVE AN IDEA OF INNOVATIVE WAYS TO ADOPT. EMILY: WHAT IS NEXT? OBVIOUSLY, THERE IS A LOT OF MONEY CHASING A LOT OF POTENTIAL DEALS. THERE IS A LOT OF. . REGULATORY UNCERTAINTY. IS THERE ANYTHING YOU WILL STAY AWAY FROM? WHAT SORT OF CRYPTO PROJECTS DO NOT HAVE THE RIGHT STUFF? AMY: IT IS A NUANCED QUESTION, EMILY. I WOULD SAY THAT THIS YEAR, WE ARE ALWAYS VERY CLOSELY LOOKING AT AND UNDERSTANDING THE REGULATORY ENVIRONMENT. THAT IS THE SET OF RULES IN THE U.S. AND THAT IS STILL EMERGING AND ALSO DIFFERENT ACROSS JURISDICTIONS. IN THE CONTEXT OF WHAT IS DEVELOPING, WE WILL BE LOOKING AT TEAMS THAT ALSO RESPECTS -- THAT IS IMPORTANT TO BE COMPLIANT REGULATORY FRAMEWORKS.

No schedule data available.

FTX Launches New $2 Billion Venture Fund

FTX’s Head of Ventures and Commercial Amy Wu joins Emily Chang to talk about FTX’s new $2 billion venture fund and where they intend on investing most. She also shares her thoughts on 2022 crypto trends, and explains why FTX is bullish on crypto long-term in spite of recent losses. (Source: Bloomberg)

More From Bloomberg Technology
All episodes and clips