Ivy League U.S. university Yale is said to be one of the investors that helped to raise $400 million for a major new cryptocurrency-focused fund, Bloomberg reports October 5. The fund, dubbed ‘Paradigm,’ was reportedly created by Coinbase co-founder Fred Ehrsam, former Sequoia Capital partner Matt Huang, and Charles Noyes, formerly of stalwart crypto fund Pantera Capital. Huang was said to have left Sequoia in June to embark on establishing the fund together with Ehrsam, according to reports from the Wall Street Journal at the time. Bloomberg has today cited an anonymous source as saying that Yale – whose $30 …
An executive at the Ethereum blockchain firm ConsenSys is launching a new blockchain-oriented investment firm, Aligned Capital. Sam Cassatt, the chief strategy officer (CSO) at ConsenSys, announced that the firm will be seeking to raise $50 million for its first fund in an announcement on Nov. 15. Cassatt, who has been at the firm for five years, will continue to serve as an advisor to ConsenSys while working full-time as a founding managing partner at Aligned Capital. Apart from blockchain, Aligned Capital will invest in safe AI and innovative healthcare According to the announcement, Aligned Capital will be investing in …
Ark Invest founder and CEO Cathie Wood did not invest in the ProShares Bitcoin Strategy exchange-traded fund (ETF) on opening day, according to Business Insider. Wood said about the ETF’s debut: “No, we did not [invest]. We’re looking at this very carefully […] there are some tax ramifications we’d like to understand more having to do with contango versus more normal backwardation.” The contango of the ETF refers to when the future price of the commodity is higher than the spot price. Backwardation is when the forward price of the futures contract is lower than the spot price in a …
Esports, gaming and interactive media investment platform Bitkraft VC has established a $75-million token fund for investing in blockchain gaming and digital entertainment. The fund uses a “stage-agnostic” strategy, meaning that it will put money in companies and startups at any business development stage. Apart from equity investment, the token fund will also invest in cryptocurrencies and nonfungible tokens (NFT). In order to provide regulated investment opportunities, Bitkraft received an investment advisor registration from the United States Securities and Exchange Commission in June 2021. The new token fund is led by Piers Kicks, a founding partner in the investment arm …
Grayscale’s Bitcoin Investment Trust (GBTC) was worth less than $1 billion for the first time this year, Diar reports Dec. 3. Grayscale is purportedly the ‘lone’ Bitcoin (BTC) investment trust in the U.S. While the fund’s worth in dollars has decreased, it saw a record number of Bitcoin deposits. GBTC, reportedly “the cryptocurrency's space largest institutional investment firm” is now holding over 203,000 BTC, which Diar points out is “just over 1 percent of circulating supply.” The report states that “record inflows however have resulted in record Bitcoin equivalent holdings with December notching up a little versus the start of …