Summary
Y Combinator is interested in startups working on stablecoin finance, seeing it as a big part of the future of money. The crypto industry saw $1.9 billion in funding last quarter, with notable fundraises including Wormhole and MetaStreet. VC activity in the crypto space is on the rise, with $9.3 billion in funding in 2023.
Key Points
1. The startup incubator Y Combinator issued a “request for startups” with 20 ideas, including a focus on AI and stablecoin finance.
2. Stablecoins are tokens pegged to fiat currencies, allowing for easy cross-border transactions while avoiding fees and fraud.
3. Y Combinator has been a backer of successful startups like OpenAI, Airbnb, and Reddit, as well as crypto companies like Coinbase and Protocol Labs.