Union Square Ventures

Union Square Ventures (USV) is a New York-based venture capital firm that largely funds startups in the internet and mobile industries and has been a major investor in blockchain startups.

USV was founded in 2003 by Fred Wilson and Brad Burnham, and was an early investor in Twitter, Etsy, Tumblr, and Kickstarter.

USV’s blockchain investments include crypto exchange Coinbase, decentralized computing network Blockstack, Dapp platform Algorand, decentralized wireless network Helium, and Ethereum-based digital collectibles app Cryptokitties. It is also a member of the Libra Association, the consortium set up by Facebook to create a stablecoin.

In 2018, USV sought to influence the regulation of blockchain-based tokens, and met with the U.S. Securities and Exchange Commission (SEC) with Andreesen Horowitz, another influential VC firm in the industry. The firms reportedly claimed that cryptographic tokens do not constitute investments (securities), but rather are a means of accessing blockchain-based services and networks as “utility tokens.”

Links

This article was originally published on Jun 5, 2020 at 8:00 p.m. UTC

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.