A cryptocurrency dealer for institutional investors and high-net-worth individuals has closed a Series A funding round of $22.7 million. Blockchain investment company Pantera Capital has launched a new crypto fund with over $71 million already committed. The South Korean government will invest over $880 million next year in order to boost the development of innovative technologies including blockchain. Several blockchain associations in South Korea are pushing back against a government proposal they fear will stifle industry innovation. Lu Qi, the head of Y Combinator’s new China division, believes blockchain has great potential for entrepreneurship in the long run.