Crypto venture capital firm C1, led by former Coinbase executives, plans to expand its presence in Australia.

C1 aims to purchase undervalued assets from investors using a $500 million fund.

The firm is targeting blockchain companies valued at a minimum of $300 million.

C1 is offering to buy private holdings at discounts ranging from 50% to 80% below previous valuations.

Companies like Animoca Brands and Chainalysis are being targeted for these discounted acquisitions.

Despite denials from C1's co-founder, the firm sees potential in Australia's crypto market and aims to acquire private holdings.