|All Time High:|
|Market Cap: |
|The price of #FUND today is $0.17 USD.|
The lowest FUND price for this period was $0, the highest was $0.169, and the current live price for one FUND coin is $0.16932.
The all-time high FUND coin price was $0.68.
Use our custom price calculator to see the hypothetical price of FUND with market cap of BTC or other crypto coins.
|The code for Unification crypto currency is #FUND. |
Unification is 4.6 years old.
|The current market capitalization for Unification is $6,586,222.|
Unification is ranked #638 out of all coins, by market cap (and other factors).
|There is a small volume of trading today on #FUND.|
Today's 24-hour trading volume across all exchanges for Unification is $5,425.
|The circulating supply of FUND is 38,897,787 coins, which is 31% of the total coin supply.|
|FUND has limited pairings with other cryptocurrencies, but has at least 4 pairings and is listed on at least 2 crypto exchanges.|
View #FUND trading pairs and crypto exchanges that currently support #FUND purchase.
Pilot Program: Verified Open Randomness powered by xFUND
UNIFICATION’S VERIFIED OPEN RANDOMNESS A new era of utility unfolds today for the FUND/xFUND ecosystem with VOR or Verified Open Randomness. Simply put VOR is used as an on-chain (ETH) event to call the Unification Network of Oracles to provide verified Randomness (similar to Chainlink VRF, but with a few key advantages) Verified Open Randomness is a critical component of the growing NFT and gaming sectors. We will release a dedicated article on use cases, but in short summary VOR is useful forGenerative NFT that requires true randomness (perhaps there are valuable traits)On Chain GamingLottery and LootboxesWhy VOR and How does it work? The first thing many people ask is why do we need VOR when we can just use built in ETH functions to generate a random number? The reason is that Solidity has no built-in method for generating random numbers and other methods are subject to exploit by bad actors when there is financial incentive. The way that VOR works is that the client builds a random number request into their Smart Contract on the ETH network, which forwards requests to the VORCoordinator smart contract (which acts as a Router for requests, xFUND fee payment and fulfillment). VOR Provider Oracles monitor this contract for emitted events, and a random number, along with the proof of its generation are sent back to the VORCoordinator, which verifies it before passing the random number back to the client’s smart contrac...
FUND? xFUND? UND? OoO? Navigating the Unification Ecosystem
As many new people are joining our community, it is important to lay a groundwork for the foundations of the ecosystem. First off, Unification has been around since the beginning of 2018 where we raised a small amount of funds and issued the placeholder UND token. This was an erc-20 that was later used to swap for the native FUND token. It is important to know that both the erc-20 and the bep2 (binance chain) version of UND are technically tradable and in the wild, but are no longer supported for token swap. More or less don’t buy them. You will know because it is called “UND” and not “FUND” FUND is the native token of the Unification Blockchain. You can view the block explorer here: Unification Mainchain Explorer And if you are interested in being a validator, there are lots of articles in this medium to follow or you can join our technical discord here: Join the Unification Community Discord Server! Lastly, to note clearly, FUND is NOT an erc-20 , you can store it on an exchange (list here) or you can use our native FUND webwallet Unification Web Wallet Many choose to hold their FUND in the webwallet because they can stake to validators and earn more FUND for staking. Each provider gives different commissions so you need to be aware. Also while the system is setup so that xFUND is only distributed directly to validators, there is one (FUNDThailand) (maybe more soon) that are arranging a manual payout of xFUND r...
With the advent of new decentralized finance technologies and xFUND, the foundation has released a system designed to incentivize the xFUND ecosystem. xFARM is a system that lets you stake xFUND LP (liquidity token) and then farm more xFUND While the majority are independent validators, the foundation still controls a fair portion of the nodes that produce xFUND and want to get this xFUND into full circulation. This is what we have done 1 — we have harvested xFUND from our house controlled nodes and put them into a “bucket.” 2 — This bucket will feed the xFARM, which will yield 100 xFUND over the course of 14 days in its starting engagement. So about 7+ xFUND per day to be dripped proportionally among all stakers of the eth/xFUND LP token (more shortly on this). It is important to note that this 14 days/ 100 xFUND is an intro period and likely will be extended (indefinitely maybe?) with us reloading the farm as we collect more xfUNDNow for the “how-to” First, you will need to “add liquidity” to the Uniswap LP. To do this, you need xFUND and ETH. you will need to add them in equal parts. To get xFUND you can acquire it off of Uniswap or be a validator and maintain and node. WARNING: If you decide to get xFUND off Uniswap, then be aware there are “fake” xFUND pairs on there (searching for it may result in a fake one) Only use this link: https://info.uniswap.org/token/0x892a6f9df0147e5f079b0993f...
What is xFUND? And how to participate in the ecosystem
As the industry moves forward in a “DeFi” revolution, there exists a clear synergy between on and off-chain tasks On-chain governance can be described as things that “need to be done on the computer” — i.e. things that validators can vote on like blocksize, upgrades etcetera. All the things that we herald as “decentralized”. Whereas the reality is that for every decentralized task voted by the community, there is typically a “centralized” group of people putting these things together and running the thousands of other tasks that are required to keep a native blockchain running smoothly. So, who are these people and to whom are they accountable? Well if we had a typical corporate structure we would call the “overseers” the Board of Directors. The ones that can hire and fire the C-Levels and give them tasks, direction and high level policy to follow. So when we say, “off-chain governance”, this is what we mean… The power to do any and all things within the Unification ecosystem that is not explicitly covered by on-chain voting. These things can include grant proposals, approval of partnerships, hiring and firing C-Levels and how to allocate company treasury. All things critical to an org, but requiring “human implementation” rather than strict on-chain commands. By the launch of xFUND, we have created an ecosystem where we seek to systematize and make perpetual — through a dual token sy...
Why Most Crypto “Partnerships” are Vapor and How We Are Doing It Differently
Before we introduce our powerful new partnership with Finchains, we need to take a moment to set expectations clearly on what the word “Partnership” means at Unification. Clear and dry, clear as day — when we say “partnership,” we mean:this entity is going to be consuming FUND starting today and we will tell you exactly how much. Think about that for a moment. In crypto, many people have been “trained” to believe that a partnership means adoption of the native coin, which means the “partner” will have to buy the coin off the market and make the price go up. Not a bad meme. In fact, I’d even call it good. But as we have learned, I have not to this day heard of any “partner” on any project who has bought a significant amount of coins for any project off the market as a result of the partnership. In its place, we get the spiel about “proof of concept” or “interoperability” or “one day this may happen” or, even better, “we are deploying on their cloud computing platform.” But seriously — this stuff “makes the price go up” despite have absolutely zero to do with any fundamentals — Crypto for the most part is still in a world where we are betting on horse racing futures that never actually happen and value is gained from this speculation And sure, for some, this is great — people gunna hustle and make money — never hate the player who plays the game well, as ...
We now have a $FUND Main-Net — Here are the Next Steps.
We now have a $FUND MainNet — Here are the Next Steps. FUND is the Noah’s ark of enterprise data- now that the Mainnet is launched and deployed (May 14th 2020, one long day) we need to prepare for the next steps. This article will attempt to be a comprehensive reference point for the future to come and address the following 1 — Housekeeping Details regarding Exchanges and Swaps. 2 — Details of Supply, Staking, Wallets, Rewards and Market Caps 3 — The Unification Enterprise Alliance and the Road Forward. — —Wait, Where is my FUND? If you are reading this on May 14th — you likely fall into one of four categories: Cat 1 — you Filled out our swap form before May 14 08:33:41 UTC — Burned your UND and now have FUND in your mainnet wallet- If this is the case — you are good. If this is the case and you don’t see your FUND — the most common reason is you need to update the Chrome wallet and switch to mainnet at the top. Once you do this — you should see your FUND. If you did all this and don’t have FUND, then please get in touch to our main email with all your details including block explorer links. Cat 2 — You filled out the form after that and do not yet have FUND. If you were late we will still make allowance, but we have to audit and verify manually — we will try to send to you within 24–36 hours and will announce a hard cut off shortly. Cat...
This was a long time coming and news that we had to keep under wraps while we verified our findings. As the we approach the Genesis of the Unification Mainnet, the following actions will be executed to optimize the supply & utility of the network: 1 — Mainnet Unification will operate under a mainnet issued token named FUND. $FUND is the actual token for the project and $UND was the testnet token. 2 — $FUND has a Total Supply of 120million FUND. Details on distribution can be found here 3 — All UND in circulation (approx 45million) will be able to be swapped 1–1 for FUND — please see this article for details on how to swap UND The reasons for this is that UND was minted as a test-coin but as it was ERC-20 and BEP-2 it was not functional on an active public network. Because of this we minted 2 Billion UND (split between ERC20 and BEP2) of these only 45,000,000 (approx) ever entered circulation with 1,955,000,000 forever sitting in cold wallets. For various reasons, including to make things very cut and dry to avoid confusion, the test-coin UND has been sunsetted and only FUND with it’s total supply of 120,000,000 will operate on mainnet. The usage of the $FUND token is as follows: The Unification ecosystem is divided into Mainchain — the full public network and WRKChains which are independent enterprise chains that are able to properly scale at cost and resources. When a WRKChain produc...
Unification Mainnet Dates and How to Token Swap
‘Money Coins’ by Wilerson S Andrade, https://www.flickr.com/photos/will_spark/8603572862/. Licence at http://creativecommons.org/licenses/by/2.0.Unification Mainnet Dates and How to Token Swap, HONOR SWAPS END FEB 12th PLEASE NOTE: This article was published in May of 2020 and we gave a 3 month window to conduct swaps which most adhered to, but now that FUND has a “new life” we are getting many people coming out of the woodwork looking to Swap. This was not our intention as the new supply is locked, but we have been making exceptions on a case by case basis. This update to the article marks an end of the extended honor period for swapping. You have until Feb 12th 2021 to complete the instructions below and we will not be able to swap any UND->FUND after that point. We apologize if you read this too late, but we have made multiple efforts to inform and contact people, but only the price rising on FUND seems to wake people up. :-D Our DM’s will be open to conduct the swap the next few days, please read below for instructions. — — — — — We’re excited to announce the Unification Mainnet finally coming online to bring a vision we’ve worked for two+ years to be a reality. We thank all of you who have supported and believe in the Unified vision and invite you to join us on the Mainnet with the instructions below to enable staking, validation & Enterprise use of the Unification Mainnet. In th...
The Unification New Genesis Event: 88% of UND Supply Destroyed!
As we look ahead to the imminent release of Unification’s Mainnet launch and token swap, there have been rumors swirling about what may be the largest token “sunset” ever in the history of blockchain. This combined with the announcement of the Unification Enterprise Alliance sets FUND as the clear “pipes and rails” infrastructure provider for all enterprise blockchains. Let’s get right to the facts as today we write history!Unification will destroy 88% of the total supply (880 million UND)! To explain how this process works and what the result will be, we will first explain the current situation. When we initially generated tokens in Feb 2019 , we minted 1 Billion UND tokens on an ERC-20 contract and then only distributed an amount to satisfy demand, (in this case about 4%) while keeping the rest in cold wallets (approx 96%). Several months later, we introduced a dual token standard of BEP-2 on Binance Chain, doing 1:1 swaps with the ERC-20 UND tokens to maintain a consistent circulating supply which has been stable at nearly 44 million UND for the past year. As we transition from testnet to mainnet and having gone through much modeling set out a long term sustainable token model, the network will transition into a permanently decentralized infrastructure vehicle maintained and secured by the community. To ensure this, there is a defacto destruction on approx 880m testnet UND tokens which will not be swapped t...
Unification “Leaves are Falling” update — (Mainnet is Coming!)
Unification “Leaves are Falling” update. The change of summer into fall means not only are our devs grinding away towards a glorious mainnet swap, but also a short conference tour. First we can talk about the “fun stuff” from our mini tour in Korea and Japan and then we can get down to Business including details on our Partnership with AMLParters and the nitty gritty of Finchain along with the Mainnet Rodmap. First the travel… September saw our team go on a Mini-tour of Asia, first to Korea Blockchain Week by D.fine which is one of the largest “commercial” conferences in Asia (I stress commercial, because the next one was pure Utopian tech) This was an excellent opportunity for high-value networking and partnerships as many top players from the region and globe came to Seoul for a few days of meetings and dinners. Specifically, we began talks with a Korean multi-national about implementation a test project on the UND blockchain for one of their entities. Interesting enough we also got deep into the reality of what a “blockchain partnership” really means. In the industry (at least during a bull market) when people hear “partnerships” they expect that to mean that there will be natural coin usage (aside from speculation) and hence more demand for the coin and hence the price of the coin will go up. Well, typically (at least with other companies) this is not how it works. These partnerships are typicall...
More Unification (#FUND) News
|Crypto Fund Exits BLUR For Lido And IMX—Endorsing DeFi?
According to Lookonchain data, Sigil, a fund in Gibraltar, has exited BLUR, one of this week's top-performing tokens, for Lido DAO's LDO, and IMX, the native token Immutable X-a layer-2 scaling solution primarily dedicated to NFT trading.
Sigil Fund Sells BLUR For IMX And LDO
On November 24, Lookonchain, a crypto analytics platform, noted that Sigil sold 1.55 million BLUR for 807,799 IMX, worth roughly $1.14 million, and 210,905 LDO, trading at $540,000, at spot rates. The exchange was made via multiple transactions and done on-chain.
The swap comes roughly three days after Sigil withdrew 3.1 BLUR from OKX, a cryptocurrency exchange. Surprisingly, the fund is exiting BLUR when the token has dominated performance in the last few trading days.
To quantify, the token has more than doubled this week alone, surging to register new H2 2023 highs above $0.60. BLUR is already up 330% from its 2023 lows and continues to edge higher on rising trading volume.
The Gibraltar-based crypto investment fund's rotation from BLUR into core governance tokens of Lido DAO and Immutable X comes when there is FOMO around the 300 million BLUR airdrop in Season 2. Still, it is not immediately clear what might have advised the fund to exit BLUR-and not simply ride the current ride-for LDO and IMX.
In retrospect, the shift could be an endorsement of decentralized finance's (DeFi) resilience and inherent growth prospects. The rotation of funds into DeFi tokens could als...
|South Korean Pension Fund Giant Invests $20 Million in Coinbase Shares i...
South Korea's National Pension Service (NPS), which is one of the largest pension funds in the world, bought approximately $20 million worth of Coinbase stock (COIN), an investment that has raked in an unrealized 40% profit for the fund.
The move marked the first time NPS would include a crypto-based company in its U.S. stock portfolio.
NPS Coinbase Shares Purchase in Profit
In a stock holdings report submitted to the U.S. Securities and Exchange Commission (SEC) on Nov. 16, 2023, NPS revealed that it bought 282,673 COIN shares in the third quarter of 2023, according to a report from local news outlet News1.
The shares were purchased at an average unit price of $70.5 per one, amounting to a valuation of $19.9 million or 26 billion won. With Coinbase's shares closing at $98.15 on Nov. 15, the value of NPS' purchase grew to $27.74 million, marking an increase of about 40%.
While COIN is still down from its peak of above $300 in 2021, the stock has seen a steady rise in value in 2023, reaching over $110 per share in July.
Coinbase, in its latest earnings report for the third quarter, recorded a total revenue of over $674 million, compared to more than $590 million in Q2 2022. The U.S. crypto exchange also had a net loss of $2 million in Q3 2023, a significant reduction from its previous record of $545 million in the same period in 2022.
Meanwhile, the company's growth in 2023 comes amid an ongoing lawsuit with the SEC, which alleged that the platform violated securities laws. Co...
|SlowMist Exposes Crypto Fund Theft Linked to Fake Skype App
A sophisticated phishing scam involving a counterfeit Skype application has resulted in the theft of a substantial amount of cryptocurrency, according to SlowMist, a prominent blockchain security firm.
The investigation has also revealed a connection to a past phishing incident that involved the same domain previously posing as Binance.
Phishing App Mimics Skype in Security Breach
A recent discovery by SlowMist, a prominent blockchain security company, has unveiled a sophisticated phishing scam that revolves around a fraudulent Skype application. The investigation was prompted by a victim's report of funds being stolen after downloading a counterfeit Skype app from the internet.
New SlowMist Investigation Report:
Fake Skype App Phishing Analysis
Our latest report exposes how a fake Skype app led to the theft of stolen funds in the Web3 sphere.
Dive into our investigation for more insights on this scam and how you can stay protected!…
— SlowMist (@SlowMist_Team) November 12, 2023
The counterfeit app, which displayed a signature pointing to a probable Chinese origin, was found to be inconsistent with the official Skype release. It was engineered to perform malicious operations by altering the commonly used Android network framework, okhttp3.
Upon further analysis, the team discovered that once the fake Skype app was executed, the modified Okhttp3 began to request permissions to access files, photo albums, and other data, which users generally grant without suspic...
|SBI Holdings to Launch $663M Fund to Propel Web3 and Fintech Startups
SBI Holdings, a prominent Japanese financial company, is preparing to launch a $663 million fund supporting Web3, AI, and other fintech startups.
The fund is slated to invest in 150-200 companies and is anticipated to begin operations by the current year's end, as Nikkei Shimbun reported.
Japan's Startup Fund Momentum with Major Backing
The SBI Holdings investment scale is expected to be robust, ranging from hundreds of millions to billions of yen per project. This ambitious fund is anticipated to reach a substantial 100 billion yen, with key contributions already confirmed from prominent financial institutions.
Sumitomo Mitsui Banking Corporation, Mizuho Bank, Nippon Life Insurance, and Daiwa Securities Group have committed to invest more than 50 billion yen into this initiative. This financial injection carries immense significance in a nation where venture capital (VC) funds of this magnitude are relatively scarce.
Japan has faced challenges in nurturing and fostering startup enterprises, a concern that prompted the Kishida administration to outline a '5-year startup development plan' in November 2022. The plan seeks to address the issue of lagging startup rates compared to the United States and Europe and aims to elevate Japan as a startup hub in Asia.
The Kishida administration is actively striving to materialize a concept of 'new capitalism.' At the core of this philosophy is the belief that startup companies epitomize this innovative capitalist mindset, as they can con...
|FTX, Alameda on a Selling Spree to Fund Debt Repayments: Data
The defunct crypto exchange FTX, along with its sister company Alameda, successfully transferred approximately $38.5 million worth of assets to other centralized exchanges.
According to reports, the ongoing selling spree by FTX and Alameda is driven by the necessity to meet their obligations to creditors.
FTX’s Selling Spree?
According to on-chain analyst Spot On Chain, there have been recent transfers of approximately seven assets from addresses linked to FTX and Alameda to popular crypto exchanges. This sale occurred shortly after another one by these entities on Nov. 7.
In this latest round, assets worth around $38.5 million were moved by FTX and Alameda addresses.
The seven assets involved in the transfer are as follows: 750,000 SOL valued at $31.2 million, 325,501 ENS valued at $2.76 million, 10.1 million GMT valued at $2.22 million, 642,702 LDO valued at $1.26 million, 288,211 APE valued at $410,000, 127,407 BADGER valued at $365,000, and 555,342 BNT valued at $323,000.
[Updated] #FTX and #Alameda further transferred out $38.5M worth of 7 assets to exchanges ~6hrs ago:
750,000 $SOL ($31.2M)
325,501 $ENS ($2.76M)
10.1M $GMT ($2.22M)
642,702 $LDO ($1.26M)
288,211 $APE ($410K)
127,407 $BADGER ($365K)
555,342 $BNT ($323K)
Overall, as of Nov… https://t.co/fJT2m0KLnG pic.twitter.com/ngJ4v4Wuxo
— Spot On Chain (@spotonchain) November 8, 2023
Since the beginning of November, the once hopeful cryptocurrency exchange has been selling substantial amounts of a...
|Dora Ventures Celebrates First Closing of its Appchain Thesis Fund
[PRESS RELEASE - San Francisco, United States, November 8th, 2023]
Dora Ventures is announcing the first closing of its Appchain Thesis Fund - Dora Ventures. This fund dedicates its capital towards cutting-edge Appchains and related infrastructures with a primary-secondary hybrid mandate. It also emphasizes support for its portfolio on decentralization, governance and global open source developer community engagement.
Dora Ventures is also the first Dora Venture fund that includes external Limited Partners (LPs), who offer strategic alliances and are committed to the long-term development of appchain innovations.
Zooming In: Focus on Appchain Infras and Appchain Ecosystems
Dora Ventures’ dedication to the Appchain sector is two-fold:
Appchain Infrastructure (Appchain Infras): Recognizing the foundational importance of robust and scalable infrastructure for Appchains, Dora Ventures places a strong emphasis on investments in this area. Strong infrastructural backbones pave the way for limitless innovation.
The Appchain Ecosystem: Beyond infrastructure, Dora Ventures actively engage with and invest in the broader Appchain ecosystem, identifying the game-changers and industry-shapers of tomorrow.
Steve Ngok, Partner of DoraHacks and Managing Director of Dora Ventures, commented, 'Appchains are not just inevitable; they're unfolding at an unprecedented pace. The launch of Dydx, the soaring success stories of Injective and Akash, and the highly anticipated Makerchain...
|1inch Investment Fund Just Sold Ethereum, What Do They Know?
1inch Investment Fund, a fund closely tied with the crypto exchange aggregating platform, 1inch, has sold 4,685 stETH for 8.54 million USDC at $1,823, according to Scopescan, an analytics platform, on October 24. By selling at spot rates, the fund has netted $1.28 million in profits since the stETH was bought at an average price of $1,550 less than a week ago.
1inch Investment Fund Sells stETH
StETH, or staked Ethereum (ETH), is an ERC-20 token representing staked ETH on the Lido Finance protocol. The platform allows anyone to stake their coins and earn rewards without necessarily locking their coins for an extended period.
As of October 24, Lido Finance is the most popular decentralized finance (DeFi) application looking at total value locked (TVL). DeFiLlama data shows that the protocol manages over $15.7 billion of assets, of which over 95% are ETH.
Technically, any ETH holder wishing to stake and earn network rewards stake on Lido Finance receives stETH in return, representing the stake amount. The higher the staked amount, the more stETH the protocol issued. This stETH can be traded, transferred, or used to secure loans while concurrently earning network rewards.
Selling stETH means 1inch Investment Fund automatically unstaked the same amount on Lido Finance and sold the underlying coins. Even so, transferring the underlying ETH can take several days when there might be changes to spot prices.
Curiously, the decision is when the crypto mar...
|Digital Asset Fund Inflows Reach $78m as Trading Volumes Soar to $1.13bn...
Digital Asset Investment products experienced a popularity surge in the past 14 days or so after about 10 weeks of severe drops.
The reports indicate a rising trend in the digital asset fund inflows, with $78 million flowing in last week, a twofold surge from the preceding one, whose inflow was over $25 million.
Europe and Bitcoin Won Big in Inflows
As the CoinShares data outrightly indicates, Bitcoin emerged as the primary beneficiary in the period. According to the statistics, Bitcoin Digital Asset Funds saw inflows amounting to about $43 million in the week.
However, this didn't prevent some investors from capitalizing on Bitcoin's recent price strength to add to short-Bitcoin positions, which attracted inflows of $1.2 million.
Interestingly, the boom in inflows was not at all universal. Regionally, there was a stark divide, with Europe accounting for 90% of the inflows, while the U.S. and Canada combined saw just $9 million.
The latest two-week inflow increase coincided with another 37% increase in trading volume for exchange-traded products, which surged to $1.13 billion, suggesting a bullish sentiment within the digital assets market.
Before the two-week inflow period, there was a 10-week drought period, where about $450 million flowed out of the markets. There were only two very low recorded weekly inflows in these ten weeks.
The analytical data by Bloomberg and Coinshares indicate that the largest outflow this year was reported at around mid-March, on week 10, at abou...
|Thorswap Halts Operations Amidst FTX Hacker's Fund Movement; RUNE Drops ...
The decentralized exchange (dex) Thorswap has paused operations after a series of funds stemming from the FTX hacker was sent to the dex protocol. Thorswap took to social media and said that the team 'stands firmly against any and all criminal actions.'Thorswap Pauses Amidst FTX Hack Fallout; RUNE Value Takes a Hit
After the FTX hacker moved thousands of ether (30,000 ETH) for the first time since the November 2022 breach, onchain observers noted that the funds were sent to Thorswap and the decentralized finance (defi) application Railgun. On October 6, 2023, Thorswap updated the community and said that the dex was down for maintenance. The dex team said:
Yesterday, following a careful evaluation of the situation and consultation with advisors, legal counsel, and law enforcement, the decision was made to temporarily transition the Thorswap interface into maintenance mode.
The dex will remain paused until 'until a more permanent and robust solution' becomes available. Thorchain's native crypto asset RUNE dropped 8.6% on the news. Thorswap said the developers are doing everything they can to get the application back up and running again.
'Swaps are paused. LP actions, Earn (savers), Borrow (lending), Staking actions are all fully operational,' Thorswap further detailed.
Consensys product manager Taylor Monahan insisted on the social media platform X (formerly Twitter) that over the past four months, 'more than 50% of the ether to Thorswap router to bitcoin transactions have be...
|UBS Expands Tokenization Horizons with Ethereum-Based Money Market Fund
UBS Asset Management, a major global fund management company, has initiated its inaugural 'live pilot' of a tokenized money market fund on the Ethereum blockchain. UBS is leveraging its proprietary service, UBS Tokenize, to explore on-chain processes like subscriptions and redemptions.
Through this pilot program, UBS Asset Management aims to conduct various fund-related activities on the blockchain, including subscriptions and redemptions. Thomas Kaegi, the head of UBS Asset Management in Singapore and Southeast Asia, views this initiative as a crucial step in unlocking the potential of tokenizing a wide range of financial assets beyond just bonds.
UBS Expands Tokenization Efforts
UBS states that this development is part of the broader Project Guardian, an initiative overseen by the Monetary Authority of Singapore. This money market fund, structured as a variable capital company (VCC), represents a novel legal framework within Singapore's investment landscape.
After the successful implementation of initial transactions, UBS Asset Management plans to expand the initiative's scope by collaborating with a more diverse group of financial entities and exploring various investment strategies.
UBS has a track record of involvement in blockchain technology. In November of 2022, the financial institution made headlines by introducing the world's first digital bond, tradable and settleable on both traditional and blockchain platforms.
Furthermore, in December of the same year, the firm...
|Crypto Fund Flows: Bitcoin Leads As Solana Follows, But Why's Ethereum L...
Investment products in the crypto arena have recently reported net inflows of $21 million, breaking a persistent six-week drought. With the crypto market’s future continuously debated among experts, such inflows mark a possible resurgence of confidence among investors.
The top cryptocurrency remained at the forefront of this resurgence, capturing most of the inflow. But as Bitcoin continues its dominance, emerging coins like Solana also signify the diversifying landscape of the crypto world. Amid these positive indicators, the Ethereum token, however, tells a different story.
Bitcoin And Solana Shine, Ethereum Faces The Heat
Leading the pack, Bitcoin funds reported an inflow of roughly $20.4 million in the past week. In sharp contrast, investment products betting on Bitcoin's decline witnessed an outflow of $1.5 million, suggesting a significant retreat from negative market sentiments.
James Butterfill, CoinShares' Head of Research, pointed out the sustained relinquishment of short positions on Bitcoin, indicating a potential bullish sentiment for the top crypto.
Solana, a rising star in the crypto ecosystem, continued to impress. Reporting inflows for the 27th week this year, it added $5.1 million to its coffers, reiterating its strong market position.
Butterfill acclaimed Solana's consistent performance, noting, 'Solana continues to shine,' emphasizing its resilience in a year that has seen numerous altcoins fluctuate.
On the flip side, Ethereum products haven't m...
|Coinshares Unveils New Crypto Hedge Fund Division, Widens Institutional ...
Coinshares, a European digital asset manager, is moving into the U.S. with a new hedge fund division aimed at institutional investors. The firm, based in Saint Helier, Jersey, intends to offer comprehensive services for institutions exploring crypto assets.Coinshares Expands to U.S. With New Hedge Fund Division
The company revealed its new branch, Coinshares Hedge Fund Solutions, signifying its foundational emphasis as a crypto-centric hedge fund manager. Lewis Fellas, an asset manager with more than two decades of experience, including seven years in the digital assets sector, will lead this division.
The press release highlights the merger of Coinshares' ten years in crypto with the expertise the team has developed from proprietary trading since 2016. The firm holds that this experience equips it to produce competitive products comparable to those of mainstream financial entities.
'In a changing macro environment prominently marked by interest rates and inflation, the demand for actively managed exposure to digital assets is a natural progression,' remarked Coinshares CEO Jean-Marie Mognetti.
The new division signifies the latest step in Coinshares’ evolution.
Registered as a broker-dealer with FINRA, Coinshares will introduce the hedge fund offerings to eligible U.S. investors. The company noted in its release, “The long-awaited return of interest rate-driven volatility is a great opportunity that we plan to capture with our novel fund product...
|Crypto Fund Flows: Millions Exit Bitcoin, But These Three Coins Hold The...
Last week marked a significant trend as crypto funds, including those holding Bitcoin, faced significant outflows, amplifying investor concerns. While the market's momentum has wavered for several crypto, a few resilient assets stood firm.
Digital asset investment products witnessed a decline for the fifth straight week. Last week alone saw outflows amounting to $53.5 million, accumulating to nearly half a billion in aggregate outflows over the past nine weeks.
Market Leaders - Bitcoin And Ethereum Feel The Brunt
Bitcoin (BTC), often dubbed the 'king of cryptocurrency,' bore the brunt of these outflows. Roughly 85% of the outflows stemmed from Bitcoin funds, translating to a decrease of $45 million last week.
This happened amid Bitcoin's grappling to recoup some of its prior losses. The cryptocurrency rose from a little over $25,000 at the start of last Monday to end the week above $26,000 by Saturday. As of this writing, Bitcoin is trading at $27,117, marking an 8.3% increase over the past 7 days
Furthermore, the outflow scenario wasn't particularly rosy for Ethereum (ETH) either. Despite its traditionally appealing investment fundamentals, according to the report, and a booming demand for its staking yield, ETH also, saw outflows to $4.8 million. Other notable assets like BNB and MATIC also experienced minor outflows.
As James Butterfill, the head of research at asset manager CoinShares, highlighted in their recent report, the last two months have been especially challe...
|Ant Group Exiting Volatile Crypto Sector, Withdraws From $100 Million Fu...
In a recent turn of events, Ant Group, a Chinese financial technology giant, reportedly decided to divest its $100 million investment in A&T Capital, signaling a retreat from the volatile crypto sector.
These reports come a few months after the resignation of A&T founding partner Yu Jun, who was later investigated for his workplace misconduct while serving as an executive at A&T Capital.
Ant Group to Retreat From A&T Capital
A&T Capital was founded in 2021 and has since been a top player in crypto markets, investing in startups such as digital asset lender Matrixport and Ethereum software maker ConsenSys.
Founded by Alibaba owner and Chinese businessman Jack Ma, Ant Group is allegedly retreating from the $100 million fund when the crypto venture funding landscape is experiencing a sharp downturn. Data indicates that crypto startup funding slid to its lowest since 2020 in the second quarter.
These emerging reports leave A&T Capital’s future uncertain as it's yet to be established whether it will need a new investor or can continue operations. Based on reports, as of Sept. 18, A&T Capital’s website had a timed-out error, leading to even more uncertainty.
Ant Group's move comes only about six months after Yu Jun’s resignation from A&T Capital. Yu Jun was a crucial player in establishing A&T, even contributing vastly to the network's efforts to expand offshore. The crypto KOL and former exec at OKX resigned from A&T Capital after allegations were lodged against ...
|Thailand's KBank Launches $100M Fund for AI, Web3, Deep Tech Startups
Kasikorn Business Technology Group (KBTG), the technology arm of Thailand-based Kasikornbank (KBank), has launched a $100 million fund for global artificial intelligence (AI), Web3, and deep tech startups with potential synergy in the Asia-Pacific (APAC) region.
According to an announcement sent to CryptoPotato, the fund, dubbed KXVC, will become a regional gateway to enable global founders in AI, Web3, and deep tech to synergize with KBank and create financial innovations in the APAC region.
KBank Unveils $100M Deep Tech Fund
The new fund will focus on AI, Web3, and deep tech startups that align with the financial sector and serve the needs of consumers, corporations, and small and medium-sized enterprises (SMEs) in the APAC region.
For the AI industry, KXVC is looking to invest in startups building solutions around consumer-focused, problem-specific AI-like cybersecurity and artificial intelligence/machine learning (AI/ML) tools like deployment platforms, data annotation, and model optimization. For Web3, the fund targets several solutions, including wallets, infrastructure, modularity technologies, privacy, alternative layer-1 and layer-2s, node validators, and the consumerization of non-fungible tokens.
Before KXVC's launch, Kasikorn X, the venture builder behind the fund, was already working with many global AI, Web3, and deep tech startups and funds, including Hashkey Capital, MagicLink, Transak, 1KX, Symbolic Capital, and L2 Iterative Venture. KXVC intends to continue ...
|Why The NASDAQ's Latest Move Is Important For Fund Managers Filing Ether...
Traditional financial institutions that have filed crypto ETF applications have focused on a particular market (spot or futures). However, a recent NASDAQ application suggests that the asset manager Hashdex is taking a different approach, which could be a game changer in the Ethereum ETF race.
NASDAQ Proposes To List Ethereum ETF
According to the application filed with the US Securities and Exchange Commission (SEC), the stock exchange plans to list and trade shares of the Hashdex Nasdaq Ethereum ETF, which will be managed and controlled by Toroso Investments LLC.
Interestingly, the fund will hold both Ether futures contracts and Spot Ether. This move from asset manager Hashdex is novel, considering that other asset managers have either applied to offer a Spot Ether ETF or Ether futures ETF or filed applications to offer both separately. However, Hashdex wants to offer a fund holding both Ether futures contracts and a Spot Ethereum ETF.
The fund's sponsors believe that combining Ether Futures Contracts and Spot Ether will help mitigate the risk of market manipulation (a major concern of the SEC) and provide the market with a “regulated product” that tracks Ethereum’s price. This fund will help US investors gain exposure to Spot Ether without relying on “unregulated products, offshore regulated products, or indirect strategies such as investing in publicly traded companies that hold Ether.”
In fulfillment of the requirement of having a surv...
|Bitget Bolsters Ecosystem Expansion with Another $100 Million Fund
Derivatives marketplace Bitget has unveiled the 'Bitget EmpowerX Fund' that is designed to boost the platform’s ecosystem development.
According to the press release shared with CryptoPotato, the focus will be on seeking investment opportunities in regional exchanges, data analytics firms, media organizations, and other entities that contribute to the growth of its ecosystem.
The EmpowerX Fund is set to deploy $100 million in capital, which will be 'strategically and selectively' allocated to maximize the company’s long-term impact in the digital assets space and its ecosystem.
From a strategic standpoint, Bitget aims to expand its business scope to establish a comprehensive trading ecosystem encompassing trading, investment, research, DeFi, media, and other functions.
Bitget's Managing Director Gracy Chen highlighted the evolving CEX landscape amid influences of tightened regulations, as well as the rapid growth of Layer 2 and DeFi technologies, and expects more investment, merger, and acquisition to happen in the following months.
The exec further added,
'Through strategic, targeted investments that foster long-term growth, we aim to continually expand our ecosystem of services to better serve the evolving needs of users. We also want to empower other people in our industry, because a rising tide lifts all boats.'
Last month, Bitget announced a one-year partnership with popular American actor and comedian Adam Devine as part of the #SetForChange campaign.
|Grayscale's Ethereum Fund Nears Yearly High Amid Filings for Spot Ether ...
The Grayscale Ethereum Trust (ETHE) has recorded significant gains since Cathie Wood's asset management firm ARK Invest and investment manager VanEck filed applications with the United States Securities and Exchange Commission (SEC) to launch a spot Ethereum exchange-traded fund (ETF).
According to a tweet by blockchain intelligence firm IntoTheBlock, the ETHE discount to net asset value (NAV) narrowed to 26% despite a drop in ETH price within the same period.
Following Ark’s spot ETH ETF filing, Grayscale’s ETH fund is close to its yearly highs, even while Ether itself is down over 20%.
Here's what's going on
ETHE has increased by over 140% in 2023, significantly narrowing its discount to the underlying Ether it holds
— IntoTheBlock (@intotheblock) September 8, 2023
Grayscale's ETHE Discount Narrows
On September 6, ARK Invest moved towards launching the first spot Ether ETF in the United States. In an S-1 filed with the SEC, the asset management firm said the ARK21Shares Ethereum ETF would track the performance of ETH.
Leading American crypto exchange Coinbase would be the custodian of the product to hold all of the fund's ETH, while crypto exchange-traded products issuer 21Shares is the trust's sponsor. ARK Invest will serve as the sub-adviser of the ETF and handle the marketing of its shares.
Along with VanEck's filing, the news caused an uproar in the crypto market, with bitcoin (BTC) and ETH...
|6 Initial Investments Made by Coinbase Ventures' Base Ecosystem Fund
Coinbase Ventures has kicked off its initial round of investments from the Base Ecosystem Fund by selecting six projects. The specific investment amounts have not been disclosed.
The Base Ecosystem Fund is essentially operated by Coinbase Ventures, the investment branch of the cryptocurrency exchange Coinbase, and is created to back early-stage projects that operate within its incubated Base network.
According to the latest blog post, Base reported that its ecosystem fund has received more than 800 funding applications since March this year.
The selected projects are - an oracle-based synthetic derivatives protocol called Avantis, Institutional-grade derivatives DEX called BSX, self-custody wallet Onboard, L2 insurance aggregator OpenCover, on-chain creator platform Paragraph, and on-chain financial oracle Truflation.
'With well over 800 applications submitted, we’re grateful for the passion and effort so many builders put into their applications and are delighted to support this first wave of teams on our shared mission to bring the world on-chain and increase economic freedom around the world.'
The Ethereum's layer-2 network, built on Optimism’s OP stack, went live in early August after Coinbase announced its plans to build it earlier this year.
In the following weeks, Base announced hundreds of integrations that catapulted its TVL above $400 million, representing a growth of over 170% in less than a month.
However, Base suffered its first major outage since ...
|Hawaii Man Charged for Making False Security Fund Conversion to Crypto C...
The U.S. Securities and Exchange Commission has charged a Hawaiian resident for falsely claiming that his fraudulent security would become the 'first publicly traded security fund to convert to a cryptocurrency.' According to the Commission, the man promoted the security to boost its price and bolster the value of his portfolio.Fabricated Documents Used to Perpetrate the Fraud
The U.S. Securities and Exchange Commission (SEC) has charged a Hawaiian resident Jeremy Koski for allegedly fabricating and posting fake documents about a purported security that he said would become the 'first publicly traded security fund to convert to a cryptocurrency.' The SEC also accused Koski of falsely claiming that the conversion would 'allow the fund to recover the face value of $25 as it opens up to a new world of digitized currency.”
According to the Commission’s Sept. 1 press release, the SEC has since formally charged Koski with 'violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5.' The SEC said it is seeking a permanent injunction against future violations.
Explaining how Koski perpetrated the fraud, the SEC alleged that the Hawaii resident had used internet message boards and different usernames to promote the fake documents. Koski’s objective according to the Commission was to not only boost the price of the security that used the symbol COTRP but bolster the value of his portfolio.
To support the...
|The Rock and Oprah Introduce Pro-Crypto Fund to Support People Affected ...
The prominent American actor Dwayne Johnson (better known as The Rock) and the talk show host Oprah Winfrey launched an initiative focused on helping those displaced by the devastating wildfires in Maui, Hawaii.
The so-called People's Fund of Maui is available for contributors from all over the globe and accepts donations in cryptocurrencies.
Crypto to the Rescue
The Rock took it to X (Twitter) to explain that the fund will put money 'directly in the pockets of those who were affected by the recent wildfires.'
He clarified that every adult resident of Lahaina and Kula (the regions that suffered the worst from the natural disaster) is eligible to receive $1,200 per month 'to help them through this period of recovery.'
The popular Hollywood actor and his partner in the move - Oprah Winfrey - started the campaign by donating $10 million and urged people to continue the good deed.
Besides contributing via numerous fiat currencies, individuals can also send crypto assets. The supported digital currencies by the People's Fund of Maui include some of the largest by market capitalization, such as Bitcoin (BTC), Ether (ETH), Solana (SOL), Polkadot (DOT), Polygon (MATIC), Litecoin (LTC), Dogecoin (DOGE), Shiba Inu (SHIB), and many more.
The wildfires in Maui that broke out at the beginning of August were the deadliest in the US in the past century. They claimed the lives of over 100 people, while hundreds more are missing. The fires also...
|PEPE Token's Rapid 17% Fall Sparks Concerns Over Multi-Sig Wallet Change...
In the wake of the meme token's meteoric ascent, pepe (PEPE) has plummeted by over 17% in the last 24 hours. Buzz on social media suggests a significant amount of funds held by the development team are being transferred to exchanges. Moreover, alterations have been made to the team's multi-signature wallet.Meme Token PEPE Tumbles: Wallet Alterations and Big Moves Ignite Suspicions
Doubts loom over the pepe (PEPE) meme token project amid chatter about hefty sums of PEPE shifting to centralized exchanges. On Thursday, onchain experts from Lookonchain pointed out, '[Four] hours ago, [the] Pepe multisig wallet and Wintermute Trading deposited 17.3T PEPE ($18M) to exchanges. [Three] hours ago, an early buyer of PEPE dumped 1.88T PEPE for 1,010 ETH ($1.68M) on a [decentralized exchange].'
Fast forward to August 25, 2023, Lookonchain delved deeper, revealing that a crypto whale splurged 320 ether on a whopping 640 billion PEPE just three hours prior to the post. Intriguingly, this same whale also amassed billions of PEPE back in June and May. Amidst this frenzied trading activity and intense speculation, it's been unearthed that modifications have been made to the PEPE team's multi-sig threshold.
One inquisitive observer asked:
Any reason why the PEPE multi-sig wallet changed the threshold to just 2/8 signatures? Seems weird, this isn't standard right? Also, [it] seems that some has been sent to exchanges.
Chiming in, onchain expert Zachxbt detailed that PEPE tokens worth $6.5 mil...
|Decentralized Hedge Fund VC Spectra Reports Strong Demand for Its Presal...
[Press Release - London, United Kingdom, August 5th, 2023]
Decentralized hedge fund VC Spectra has reported strong demand for its Stage 2 presale. The token sale has drawn considerable interest from early investors and underlined VC Spectra's potential to redefine the crypto industry.
Priding itself on democratizing access to investment opportunities, VC Spectra has carved a distinct niche for itself. The on-chain hedge fund extends the availability of early-stage investments to non-accredited investors, thereby bridging a significant market gap.
Investors opting for the SPCT token can leverage an array of unique benefits. These perks include quarterly dividends and buybacks, voting rights, and early access to initial coin offerings (ICOs).
The SPCT token, developed on the Bitcoin blockchain using the BRC-20 standard, provides a robust mechanism for decentralized trading, asset management, and transaction facilitation within the Spectra platform. The Spectra Token (SPCT) is the main currency within the Spectra ecosystem, enabling access to different services on the platform.
By implementing a deflationary model featuring a burn mechanism for the SPCT token, the decentralized hedge fund aims to decrease token circulation gradually. When coupled with VC Spectra's unique investment offerings, this novel approach further solidifies SPCT 's standing in the crypto market.
The Vc Spectra public presale is currently in Stage 2 and has already seen robust demand. The SPCT token, whic...
|Defi Education Fund Submits FOIA Request for SEC's Docs
The Defi Education Fund, an organization dedicated to expanding the decentralized finance environment, has submitted a Freedom of Information Act (FOIA) request to the U.S. Securities and Exchange Commission (SEC). The documents requested are linked to the SEC's non-answer to whether syndicated term loan notes constitute securities.
Defi Education Fund Issues FOIA Request for SEC Documents Linked to Kirschner v JPMorgan
The Defi Education Fund, an organization that seeks to achieve regulatory clarity in the decentralized finance space, has submitted a Freedom of Information Act (FOIA) request to the U.S. Securities and Exchange Commission (SEC) regarding its acts on the Kirschner v. JPMorgan case.
In Kirschner v. JPMorgan, the Second Circuit of the United States Court of Appeals ordered the SEC to submit 'any views it wishes to share' on considering if syndicated term loan notes could be securities. However, the SEC declined to take sides, stating that it was 'not in a position to file a brief on behalf of the Commission in this matter' after asking for two extensions to inquire on the subject.
While some were relieved by the SEC's answer due to the potentially disruptive effect of its opinions on the resolution of the case and the health of the lending market in the U.S., the Defi Education Fund considered this strange behavior.
Amanda Tuminelli, CLO of the Defi Education Fund, stated:
Why would the SEC want to avoid writing thoughtful analysis on whether something i...
|VC Firm Sequoia Capital Slashes Crypto Fund By 65% Amid Bear Market
Just over a year after launching its crypto fund, venture capital firm Sequoia is now rolling back its investments and taking more of a more careful approach. The firm was making some serious waves when it launched its crypto fund last year in February, signaling that crypto was ready for mainstream VC backing. But now the company has reportedly downsized its cryptocurrency fund by 65% as the crypto winter rages on.
Sequoia Pulls Back On Its Crypto Funding
Sequoia Capital, one of Silicon Valley's most prestigious VC firms, is scaling back its ambitions in the crypto space. After launching a dedicated $585 million crypto fund last year, Sequoia recently announced they’re slashing it by 65% to $200 million.
The firm has also reduced its ecosystem fund by 50%. The fund, which invests in other smaller venture funds and solo investors, is now at $450 million, down from $900 million.
Insiders close to the situation said this is a result of the bear market, which has affected projects across the industry and pulled down prices significantly over the last year.
Why Is Sequoia Taking This Step Now? Sequoia is known for making investments in crypto companies and had initially announced its funds as part of a larger restructuring effort to increase its investments in the crypto space. The crypto market, however, has seen most projects take a big hit over the last few months and Sequoia wasn't left out, as it has seen a major part of its investment take drastic losses....
|Sequoia Reduces Crypto Fund by Almost $400 Million: Report
Sequoia Capital, an investment firm long revered for its direct involvement with Silicon Valley’s intricate web of venture capitalists and tech sector visionaries, has decided to reduce its exposure to cryptocurrencies, according to a confidential source.
A Reflection of The Market
In a message to investors, Sequoia Capital announced its decision to reduce its cryptocurrency fund from $585 million to about $200 million, as reported by the Wall Street Journal.
According to Sequoia, the pivot to more traditional sectors is a reflection of current market conditions, in which low-interest loans have gutted through much of the tech industries’ wild spending.
Sequoia Capital curbed crypto investments by a hefty 65% , opting for a nurturing stance on startups. Not a volatile market apathy, but strategic cognition, folks! #CryptoInvestments $BTChttps://t.co/hfsAAd8jeV pic.twitter.com/8JvtyShg0n
— Chain Review (@Chain_Review) July 27, 2023
Seeking to avoid the fate of SVB, Sequoia has also downsized its so-called ecosystem fund, which invested in other tech sector startups, to $450 million. Previously, this fund was worth $900 million.
Lower Expectations, Smaller Returns
The two downsized funds were originally announced in February 2022. At the time, they were already part of a restructuring plan imposed by Sequoia’s leadership in response to crypto winter and to the first signs of a global recession.
However, Sequoia’s crypto (mis)adventures were mere...
|Institutional Crypto Fund Flows Flip Negative as Markets Retreat
Digital asset investment products have returned to negative territory following four weeks of solid inflows.
According to asset manager CoinShares, there was a total outflow of $6.5 million from crypto funds last week, reversing the trend of inflows.
However, the outflow is minor compared to the prior four weeks, which totaled $742 million of inflows.
Let’s have a look at last week’s fund flows with CoinShare’s Head of Research James Butterfill.
Digital asset investment products saw minor outflows totalling US$6.5m, following 4 prior weeks of inflows that totalled US$742m.
— CoinShares (@CoinSharesCo) July 24, 2023
Pro Investors Switch to ETH Funds
Bitcoin saw the lion’s share of outflows, with $13 million leaving such funds and products. Furthermore, short BTC investment products saw outflows for the 13th consecutive week totaling $5.5 million.
The paper also showed a slump in trading volumes last week. They were below the year-weekly average at $1.2 billion, less than half of the $2.4 billion in volume the previous week.
The negative sentiment was primarily focused on the North American market as the regulatory war on crypto continues.
However, the news was not all bad in the world of institutional investment. Professional traders have flipped from Bitcoin to Ethereum, with ETH-based funds seeing an inflow of $6.6 million for the week.
This “suggests sentiment, which has been poor this year, is slowly be...
|This Hedge Fund Manager Backs Bitcoin & Ethereum Prices to Keep Rising, ...
Cryptocurrencies are showing remarkable resilience amidst a turbulent economic environment, evidenced by their decoupling from traditional asset classes.
Dan Morehead, CEO of Pantera Capital, predicts this dynamic will allow major cryptos like Bitcoin and Ethereum to continue rallying over the medium term.
Although these two cryptos remain the most talked-about in the space, investors are also paying attention to BTC20 – an innovative new token that combines elements of both Bitcoin and Ethereum and has just launched an eagerly-anticipated presale phase.
Crypto Guru Dan Morehead Forecasts Rally for Bitcoin & Ethereum
Veteran hedge fund manager Dan Morehead has a long history of successfully investing in top cryptocurrencies before major price increases.
As CEO of Pantera Capital, a US-based hedge fund established in 2003, Morehead has managed a Bitcoin fund that has produced over 42,000% in returns since its inception.
Considering his background and successful track record, Morehead's optimistic perspective on Bitcoin and Ethereum is highly influential in the crypto community.
In a recent interview with Forbes, Morehead stated that “we can rally now” in reference to the potential for the crypto market to recover after a difficult year in 2022.
This optimism stems from his interpretation of the Federal Reserve's recent activity in the bond markets.
Over the past 15 years, the Fed has purchased huge amounts of bonds – a strategy known as 'quantitative e...
|Grayscale Adds Lido's LDO Token to Defi Fund, Token Becomes Second-Heavi...
On July 7, 2023, the digital asset manager Grayscale Investments published an update on three of its funds - the Digital Large Cap Fund, the Defi Fund, and the Smart Contract Fund. Although no new tokens were added to two of the funds, Grayscale revealed that it added Lido DAO's native cryptocurrency and governance token, LDO, to the Defi Fund.LDO Added to Grayscale's Defi Fund
Grayscale Investments, the digital asset manager, announced its second-quarter 2023 update, which covers fund rebalancing and a new token addition to the Defi Fund. The Digital Large Cap Fund and Smart Contract Fund experienced no changes in terms of added or removed tokens.
Nonetheless, Grayscale disclosed in the update that it included Lido's LDO token in the assortment of decentralized finance (defi) tokens held within the Defi Fund. The digital asset manager utilized cash proceeds to acquire the lido (LDO) token for the fund.
LDO holds the second-largest weight in the fund's portfolio of coins, with uniswap (UNI) being the largest, representing 45.46% of the fund's holdings, while LDO now accounts for 19.04%. Following UNI and LDO in terms of weight are AAVE (11.53%), MKR (10.82%), CRV (7.03%), and SNX (6.12%).
LDO ranks as the 33rd largest market capitalization out of nearly 10,000 crypto assets within the crypto economy. On Saturday, July 8, 2023, LDO increased by 2% against the U.S. dollar, but it has experienced a loss of more than 10% over the past 30 days.
Looking at six-month statistics, LD...
|Decentralized Hedge Fund VC Spectra (SPCT) Raises $2.4 Million in Seed S...
[PRESS RELEASE - London, United Kingdom, July 5th, 2023]
VC Spectra (SPCT), a decentralized hedge fund, is currently 70% into the first stage of its public presale. The private seed sale, which raised $2.3 million in just two weeks, has filtered through into the public presale.
A leading firm in the fintech and blockchain space, VC Spectra aims to provide financial growth through strategic investments and initial coin offerings (ICOs). With a sustainable development approach and a focus on reducing risks and uncertainties, VC Spectra offers investors access to a wide range of blockchain ventures.
Interest in VC Spectra has been piqued by its promise to secure unparalleled access to promising blockchain projects. With a team of experienced investment professionals, VC Spectra employs a rigorous selection process to identify high-potential opportunities in the blockchain and technology sectors.
SPCT is a BRC-20 standard token built on the Bitcoin blockchain, with is also being cross-chain to ERC20 for its presale. Serving as a medium of exchange, it facilitates decentralized trading, asset management, and transaction fees on the VC Spectra platform. Token-holders will enjoy a range of benefits, including exposure to promising web3 projects at an early stage.
VC Spectra is on a mission to democratize access to venture capital-style investments, something that is traditionally unavailable to the public. Its team, using a combination of human experts and artificial intelligence, i...