Jun 1, 2018

Sequoia Capital partner leaves to start cryptocurrency fund

Ilustration: Rebecca Zisser / Axios

Sequoia Capital partner Matt Huang is leaving the firm to start a cryptocurrency-focused fund with Coinbase co-founder Fred Ehrsam, as the WSJ reported and a source confirms to Axios.

Why it matters: Technology investors have become increasingly interested in the area, with a growing number of venture capital funds making both equity investments in startups as well as purchasing digital tokens from nascent projects.

The fund: The size and exact strategy is unclear at this time, though at Sequoia, Huang led investments in cryptocurrency hedge funds with various strategies, as well as in companies developing their own tokens. Sequoia will continue to invest in these technology areas, as well as in Huang and Ehrsam's fund.

Go deeper

Coronavirus spreads to new countries, while U.S. confirms 57 cases

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

Public health officials confirmed Tuesday the U.S. has 57 people with the novel coronavirus, mostly those repatriated from the Diamond Princess cruise ship — an increase they had expected after the passengers were allowed to return home from Japan against their initial advice.

The big picture: COVID-19 has killed more than 2,700 people and infected more than 80,000 others, mostly in mainland China. There's only been two cases of person-to-person infections in the U.S. so far, but the Centers for Disease Control and Prevention is now warning that Americans should prepare for a much broader outbreak here.

Go deeperArrowUpdated 1 hour ago - Health

Space tourism gets ready for launch

Illustration: Sarah Grillo/Axios

Multiple space tourism companies are aiming to send their first customers to the edge of space before the end of this year.

Why it matters: Right now, most revenue in the space industry is tied up in government contracts, but experts say the maturing industry will need tourism to grow into the $1 trillion economy some predict it could be.

Go deeperArrow2 hours ago - Science