If regulators tighten, the same stake could face pressure, but for now, Wood appears to be banking on momentum and long-term upside in crypto infrastructure.

An exclusive from the Wall Street Journal reports that AI coding start-up Cognition has raised a new round of funding worth $500m led by Peter Thiel's Founders Fund.

Crypto companies raised $1.2 billion this week. Investors say the industry will raise $25 billion in 2025. Successful IPOs ...