The newly formed crypto investment firm Metalayer has filed with the Securities Exchange Commission (SEC) to set up a $25 million fund to focus on investments in the crypto industry. It is reported that Metalayer has completed its first round of fundraising and received $20 million in subscribed capital. It is expected to raise funds by the end of the year. The three founders of Metalayer, all former Two Sigma Ventures executives, including former head of digital assets Andy Kangpan, are understood to have invested in three companies, including synthetic dollar project Ethena, institutional-specific exchange Crossover, and blockchain clearing house Clear Token, demonstrating its focus on the integration of crypto technology with mainstream financial services.