Odaily Planet Daily News According to Forbes, Reddit co-founder and Seven Seven Six leader Alexis Ohanian said that after obtaining the RIA license in 2022, Seven Seven Six immediately set out to raise a $176 million cryptocurrency fund in August of that year. As the digital asset industry was engulfed by the crypto bear market, the fund was reduced to only $6 million. Ohanian attributed it to "wrong timing." It was previously reported that in August last year, Seven Seven Six, a venture capital firm led by Reddit co-founder Alexis Ohanian, planned to raise $176 million for its crypto investment fund Kryptós. Kryptós will be the company's first investment fund focused on the crypto field and will invest in crypto startups. The company expects to launch the fund in October.