PayPal Ventures, once active in multiple crypto project investments, is gradually shutting down

CoinFeed June 18 news, according to TechCrunch, PayPal's corporate venture capital arm PayPal Ventures is gradually shutting down. Established in 2016, the unit has invested in over 80 projects, including crypto trading platform Talos Global, fintech infrastructure company Plaid, and crypto bank Anchorage Digital, raising a total of $850 million across three funds. A company spokesperson stated that as part of its ongoing focus strategy, it is exploring strategic options for the corporate venture capital arm. Currently, PayPal Ventures nominally still exists, with a small number of employees supporting the invested portfolio, but new investment activities have been suspended.