Tim Draper launches accelerator to support crypto startups

The investor and billionaire Tim Draper presented a ‘venture studio’ Draper Goren Blockchain (DGB), the aim of which is to accelerate DeFi innovations through funding early-stage crypto projects.

The founding partners were entrepreneurs Alan Goren and David Bleznak.

The latter, along with Draper, invested in their previous venture Draper Goren Holm and serves on the board of the analytics platform LunarCrush and the institutional crypto service Ownera.

?DRAPERGORENBLOCKCHAIN?

So excited to announce the launch of our new venture studio! Been working with @TimDraper & @bleznak for many years now and excited to take it to the next level! More info soon, but check the newsletter announcement: https://t.co/mrjmfEhj2E pic.twitter.com/AiWmcTnXId

— Alon Gorenᴳᴹ ✌️ (@AlonGoren) September 20, 2023

Bleznak previously led the DeFi Totle project, worked at Coinbase supervising corporate products, and also supported Draper Goren Holm.

Over the next ten years, DGB aims to allocate between $25,000 and $100,000 to pre-seed startups. The ‘studio’ will place additional emphasis on partnering with select projects to build companies from scratch.

“The oft-repeated cliché that bear markets are a time for builders persists. There are incredible projects being developed that need capital and support. With DGB we are strengthening our commitment to developing crypto projects that push the industry forward, as we anticipate millions of new users to come in the coming months and years,” Draper said.

In an interview with Decrypt, Goren added that he is “sad” to watch American crypto entrepreneurs move abroad amid tight regulation. Those who remain face even greater difficulties, he noted.

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

Nevertheless, the investor remains optimistic. He says the nature of blockchain technology will eventually render “the whims of regulators” obsolete.

In July, Tim Draper said that sooner or later the world would embrace the first cryptocurrency. He believes Bitcoin will transform spheres of trade and money in the future.

In the same month, Draper reiterated his forecast that Bitcoin would reach the $250,000 mark. He believes this will happen in 2025. In 2018, the investor first predicted Bitcoin at $250,000 by 2022.