Wu said that, according to a report by Bloomberg, the hedge fund Coatue Management plans to raise $1 billion to increase its investment in artificial intelligence and technological innovation. This is the first time in several years that the company is seeking to raise funds for its flagship fund. Coatue Management is a hedge fund based in New York that focuses on technology companies and previously led a $300 million Series C funding round for OpenSea. Its portfolio in the cryptocurrency field includes: blockchain security company CertiK, Bitcoin mining company Hut 8, cryptocurrency payment platform MoonPay, cryptocurrency analytics platform Dune Analytics, and more.