The founder of stablecoin venture Verda joins Tether, and the fund halts new investments

Alex Witt, founding partner of the venture capital firm focused on stablecoin infrastructure, Verda Ventures, announced that he and partner Amit will join Tether, the world's largest stablecoin issuer. Tether was previously one of the limited partners of Verda Ventures.

With the two joining Tether, Verda Ventures, which has been operating for three years, will enter the investment recovery phase and cease investing in new companies to avoid potential conflicts of interest. The fund will continue to manage and support its existing 28 portfolio companies and selectively participate in follow-on financing.