Saudi Arabia's Wealth Fund Invests in Crypto-friendly VCs and Global Venture Firms.
Saudi Arabia's $620 billion sovereign wealth fund has invested in venture capital firms that are friendly towards cryptocurrencies. The Public Investment Fund (PIF) has backed Andreessen Horowitz, Ribbit Capital, and Accel, among others, which have invested in crypto-related startups. The move signals the PIF's interest in the potential of digital assets and its willingness to invest in the sector.