Cardano Developer Emurgo Undaunted By Bear Market As It Shells Out 200M In Investments

The crypto bear market has been brutal, but it has not stopped development in the Cardano ecosystem in any way. The network recently celebrated the completion of its Vasil hard fork, and even though the price of its native token ADA has failed to move in tandem with the development. CoinDesk caught up with Ken Kodama, founder of Emurgo, at the Token 2049 conference, where it was released that the Cardano developer would be diving deeper into funding for the ecosystem. It was revealed that Emurgo was planning to inject $200 million into the ecosystem for projects built on the network. It has also earmarked $100 million out of this fund to go towards investments in Africa, a region where Cardano development has been ramping up in recent months.