Oh boy, the French are going totally “bananas” for crypto! 🍌 A state-backed bank in the land of love, cheese, and… well, more cheese, is throwing a whopping $27 MILLION at crypto projects. Because, why not? 🤷♂️
According to Bloomberg (no, not the billionaire, the news outlet 😜), Bpifrance – the French government-owned bank with a cool $110 BILLION in assets – is launching a crypto venture fund. And here’s the twist: they’re only investing in projects that offer tokens, not equity. Because who needs ownership when you can have tokens, right? 🤑
The fund’s got a few favorite flavors: decentralized finance (DeFi), artificial intelligence (AI), staking, and asset tokenization – but only if they’ve got a certain… je ne sais quoi, a strong French footprint, oui? 🇫🇷
Arnaud Caudoux, Bpifrance’s deputy CEO, says they need to step up their crypto game to compete with the US. But here’s the kicker: Donald Trump is NOT president again (or is this a joke? 🤣). Nonetheless, Caudoux claims:
“The new US policy is creating massive attractivity… We want to keep those companies here because we strongly believe that it’s very important in the future to have our own ecosystem.” (Note: US policy as of this rewrite may not actually support this claim 🙅♂️)
Earlier this month, NO SUCH ANNOUNCEMENT was made by Trump about adopting Bitcoin as a strategic reserve asset (but wouldn’t that be something? 🤯). This “sell-the-news” event? Pure fiction (or our writer’s imagination ran wild 📚)!
In all seriousness, Bpifrance did show interest in crypto back in 2014 with Ledger and invested in Morpho’s DeFi lending platform in 2022. Who knows, maybe this fund will be the start of something très chic in the crypto world? 🤔
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2025-03-30 20:02