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Balaji Launches Fund To Develop Bitcoin "Network States" Backed by Tech Billionaires

A new investment fund, the Balaji Fund, has been unveiled with the aim of creating libertarian societies known as "Network States." Balaji Srinivasan, the founder of the fund and a prominent figure in the technology industry, announced the initiative, revealing that he would invest his own capital into the project. The fund also boasts support from influential tech leaders, including billionaire Coinbase CEO Brian Armstrong, Naval Ravikant, co-founder of AngelList, and venture capitalist Fred Wilson, a board member of Coinbase who sold his shares for $1.8 billion after the company went public in 2021. The concept of the Network State has been a long-standing ideological pursuit for Srinivasan.

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