$1 Billion Crypto Hedge Fund Crashed 40% – But Still Beat Bitcoin

Crypto hedge fund traders were not immune to bitcoin’s downright frigid bear market. Just look at Polychain Capital, whose assets under management (AUM) fell to $591.5 million at year-end 2018, according to a regulatory filing cited in the Wall Street Journal. Investors Stay Put in Polychain Capital’s Fund The San Francisco-based crypto hedge fund boasted $1 billion in assets as of February 2018, which in addition to cryptocurrency included unspent cash pledged by investors and equity holdings in companies, Fortune reports. The value of Polychain’s AUM, however, tumbled nearly 40%…

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What Bear Market? This Crypto Brokerage Firm Just Raised $12 Million

Traditional cryptocurrency lovers do not like somebody to sell and purchase their digital assets for them. But their take is likely to change if they have to walk to an over-the-counter bitcoin shop with a bag full of money. Not only it would be dangerous, but it would also make the buyer and his trading strategies less anonymous before a counterparty. At least that is what explains the need for a cryptocurrency brokerage like Tagomi Holdings Inc. Launched by a former Goldman Sachs Inc. executive, Greg Tusar, the US startup…

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$12 Billion University of Michigan Endowment Might Deepen its Crypto Stake

Institutional investors are finally wading into crypto. Want proof? The University of Michigan’s $12 billion endowment said it could increase its investment in a crypto-network technology fund managed by American venture-capital firm Andreessen Horowitz. Financial terms weren’t disclosed, but the latest cash infusion into Andreessen’s CNK Fund would add to the $3 million the university invested in the fund back in June 2018. The CNK Fund invests in cryptocurrency startups. In a statement, the University of Michigan noted that Andreessen had launched the fund it believes cryptocurrencies are “an important area…

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Activision Alums Raise $16 Million to Build EOS-Focused Blockchain Game Studio

Mythical Games is “a next-generation game technology studio.” Their focus is online games where players own the assets they develop or acquire in the game – true digital ownership powered by the blockchain, as opposed to managed digital ownership backed by centralized servers. It’s an important difference. When a player acquires assets in a game The post Activision Alums Raise $16 Million to Build EOS-Focused Blockchain Game Studio appeared first on CCN

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Fidelity Investments Aims to Release Crypto Products by Year End

Fidelity Investments CEO Abigail Johnson has revealed that the company is working on a number of cryptocurrency and blockchain-related products and offerings, with their release tentatively fixed for sometime before the end of the year. Speaking on Friday at the Boston Fintech Week conference, Johnson declined to go into any specifics regarding what exactly Fidelity … Continued The post Fidelity Investments Aims to Release Crypto Products by Year End appeared first on CCN

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Blockchain ETF Provider Will Launch a $100 Million Crypto Hedge Fund: Report

Reality Shares, an asset management firm based in California, will be launching a $100 million multi-strategy crypto hedge fund, a source told Business Insider. According to the company insider, the crypto fund will be “a mix of arbitrage, venture, and directional strategies.” Reality Shares has already obtained $25 million for the fund, the source said. The The post Blockchain ETF Provider Will Launch a $100 Million Crypto Hedge Fund: Report appeared first on CCN

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1 in 3 Germans See Cryptocurrency as an Investment Opportunity: Bank Report

German retail bank Postbank has reported that according to a recent survey, 29% of Germans believe that cryptocurrency is a desirable investment opportunity. The results from Postbank Digital Study 2018 were announced after 3,100 Germans were interviewed from the end of February to the end of March this year. One in two of the younger The post 1 in 3 Germans See Cryptocurrency as an Investment Opportunity: Bank Report appeared first on CCN

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47% of South Africans Plan to Invest in Cryptocurrencies

South Africa has the most sophisticated economy and financial sector on the continent, and its citizens are increasingly warming up to the idea of investing and trading in cryptocurrencies — despite regulatory concerns over such decentralised digital financial assets across the world. The MyBroadband 2018 Cryptocurrency Survey — completed in April — shows that more South The post 47% of South Africans Plan to Invest in Cryptocurrencies appeared first on CCN

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