Dan Tapiero's company will merge to form a new brand 50T and launch a new $500 million encryption fund.

On July 23, renowned digital asset investor Dan Tapiero is merging private equity firm 10T Holdings with 1RoundTable Partners, with the new brand named 50T, reflecting his prediction that the digital asset ecosystem will reach a market capitalization of $50 trillion in the next decade. In a press release issued on Tuesday, Dan Tapiero stated: "50T is a natural evolution of our original idea from early 2020 — when the core concept of establishing 10T was the belief that the digital asset ecosystem would grow from $300 billion to $10 trillion within a decade. Today we estimate that the market capitalization of this sector has reached $50 trillion, far exceeding the initial timeline, thus we need to raise our outlook target. Recent success stories like the IPO of Circle and the acquisitions of CEX have demonstrated the maturity of this industry and validated our investment philosophy that 'all value will eventually be on-chain.'" The funds under 50T were investors in Circle, CEX, and the recently listed digital trading platform eToro, and other companies in its portfolio are also preparing for IPOs. Along with the brand upgrade, 50T will also launch a growth equity fund named "50T Fund" with a scale of $500 million. This closed-end fund has a ten-year term and aims to invest in mature companies in the blockchain and Web3 core infrastructure sectors, with the first fundraising expected to be completed in the fourth quarter of 2025.