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FUND Price:
All Time High:
Market Cap:
$4.9 M

Circulating Supply:
Total Supply:
Max Supply:


The price of #FUND today is $0.13 USD.

The lowest FUND price for this period was $0, the highest was $0.126, and the exact current price of one FUND crypto coin is $0.12618.

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 5.1 years old.


The current market capitalization for Unification is $4,908,072.

Unification is ranking downwards to #771 out of all coins, by market cap (and other factors).


The trading volume is weak today for #FUND.

Today's 24-hour trading volume across all exchanges for Unification is $116.


The circulating supply of FUND is 38,897,787 coins, which is 31% of the total coin supply.


FUND is a token on the Ethereum blockchain.


FUND has limited pairings with other cryptocurrencies, but has at least 3 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...

Discovering xFARM

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:

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...

Introducing $FUND

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, Licence at 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...


$SHARE on Solana, the First Decentralized Impact Fund Empowering Positiv...

    [PRESS RELEASE - New York, United States, May 22nd, 2024] $SHARE on Solana is utilizing blockchain technology to aim for the transformation of positive impact into viable investment opportunities. As the first decentralized impact fund, $SHARE gives investors the opportunity to drive meaningful global change while potentially achieving financial growth. Representing the future of finance, stakeholders aim to grow their investments while fueling meaningful impact across the globe by the collective. $SHARE (@shareon_crypto on X) isn't just another cryptocurrency; it is a community-driven initiative redefining the potential of capital for societal good. At its core, $SHARE is a store of value fueling change. What sets the Share Foundation apart is its unique token protocol, which aims to raise funds for positive impact as the market cap valuation grows. As the $SHARE ecosystem flourishes, so does its capacity to drive change. The Share foundation operates under the guiding principle of community-led decision-making. Every decision and allocation is determined through a democratic process, with the community voting for the positive impact projects they believe in. Just two months into the project, the Share Foundation has already funded the construction of a clean-water facility in Kenya, which will provide stable access to potable water for the entire Muchemo community. This project will begin construction in late June in collaboration with The Water Project which will be respon... read More

Avalanche Rising: Will The Wine Capital Fund Turbocharge Gains Above $40...

    AVAX, the native currency of Avalanche, a high throughput blockchain, is rising, adding an impressive 9% from May 15 lows. Buyers are taking over after weeks of lower lows. While the expansion of Bitcoin prices could explain these gains, there could be more. Fine Wine Investment Fund Tokenized On Avalanche Avalanche has announced tokenizing a fine wine investment fund, a move that would see the platform ride on the wave of tokenization. In a statement, Avalanche said the Wine Capital Fund has been tokenized by Oasis Pro and listed on ATS via the Avalanche C-Chain, where smart contracts are deployed. The ATS is Oasis Pro's trading platform registered by the United States Securities and Exchange Commission (SEC). Meanwhile, the capital fund is a 'closed-end investment vehicle.' Specifically, it specializes in fine wines and is overseen by WIVX Asset Management. The decision to tokenize on Avalanche is a step forward in creating a tokenized asset ecosystem, mirroring progress made in Ethereum, among other chains.  By making inroads into the fine wines market, estimated to be worth over $400 billion, the platform aims to democratize access, making it available to more investors. Analysts claim tokenization removes barriers common in traditional finance. Notably, Avalanche will play a huge role since the network is scalable, boosting a high throughput with sub-second finality.  The number of real-world assets (RWA) being onboarded is rising. When writing, data from RW... read More

BlockTower Capital's Primary Hedge Fund Falls Victim to Fraud

    BlockTower Capital's primary hedge fund has fallen victim to fraudsters, who have managed to drain its assets partially. According to the Bloomberg report, the stolen funds have not yet been recovered, and the perpetrator remains at large. However, one source revealed that the firm roped in blockchain forensics experts to investigate the theft and recently informed its partners about the incident. The latest development suggests that even a major investment firm is not immune to threats that mostly prey on retail investors. Interestingly, BlockTower Capital lost nearly $1.5 million after the exploit of decentralized exchange aggregator Dexible last February. The wallet address in question linked to the Dexible exploiter drained approximately $1.5 million in TRU tokens from a wallet identified as BlockTower's by Arkham Intelligence. Nansen also confirmed the wallet was labeled as BlockTower Capital. The company shut down its 'market-neutral' crypto fund last year due to a shortage of viable investment opportunities. In addition to BlockTower's exploit, a lesser-known decentralized lending protocol called Sonne Finance was also exploited that resulted $20 million in losses. In its post-mortem report, Sonne stated that its team discovered the issue 25 minutes after the exploit occurred. Although they couldn't recover the funds, the investigation into the exploiter's identity is currently underway. The protocol also mentioned they are willing to offer a bounty to the exploiter a... read More

Bitget Wallet Unveils Bitget Onchain Layer, Rolls Out $10M BWB Ecosystem...

    [PRESS RELEASE - Victoria, Seychelles, May 15th, 2024] Bitget Wallet, a leading non-custodial wallet and decentralized ecosystem platform, has announced the launch of its latest product blueprint, the Bitget Onchain Layer, to revolutionize the overall Web3 experience for its users. The Bitget Onchain Layer will not only integrate a host of native DApps within Bitget Wallet through joint collaboration with builders, but also position Bitget Wallet as the primary on-chain extension and future of the Bitget ecosystem. Concurrently, a $10 million BWB Ecosystem Fund has also been established, dedicated to accelerating the development of the Bitget Onchain Layer and supporting aligned projects and initiatives. Powering the Bitget Onchain Layer are native Modular Feature-DApps (MFDs), specialized applications to streamline user interactions, enhance liquidity aggregation, and fortify security measures. Initially, the ecosystem fund will be dedicated towards the investment and incubation of various Web3 trading services, of which three are already in the pipeline: Pre-Market, on-chain derivatives market, and Trading Bot. These services, in the form of MFDs, will further complement Bitget Wallet's existing Swap trading service. Since its inception as a multi-chain wallet in 2018, Bitget Wallet has evolved into a comprehensive platform featuring native functions such as multi-chain wallet, Swap, intelligent market data, Launchpad, inscriptions tool, and earning cen... read More

Pantera Capital's Fund V Targets $1 Billion for Diverse Blockchain Inves...

    Pantera Capital is seeking to secure $1 billion for its new fund, 'The Panter Fund V. ' It is designed to provide investors with exposure to a wide range of blockchain-based assets. A new report by Bloomberg revealed that the new fund is expected to launch in April 2025. Pantera Fund V The Pantera Fund V has been designed to be an all-encompassing product, differing from the digital asset investment manager's previous funds with more specific investment focuses such as the Liquid Token Fund, Early Stage Token Fund, Bitcoin Fund, and Venture Funds. Qualified investors must allocate a minimum of $1 million, with the first close scheduled for April 1, 2025. Limited partners are expected to contribute a minimum of $25 million to participate in the fund. Its website states, 'Fund V offers exposure to the full spectrum of blockchain assets. The venture-style Fund will invest in venture equity, early-stage tokens, and liquid tokens.' The fund, if successful, would become the largest raised since the sector's collapse amidst scandals and bankruptcies in 2022, according to the report. The fund managers encountered significant difficulties in raising new capital last year, but this appears to be changing as the sentiment of key players improves. With the market recovery, Pantera’s new fund is expected to match the size of its last one, which raised about $1.25 billion two years ago. Pantera Capital Scores Discounted Solana Tokens In addition to the new fund, Pantera Capital also ... read More

BlackRock's Tokenized Fund News Sends Hedera (HBAR) Soaring 100%, The Re...

    In a surprising turn of events, the native token of the decentralized ledger platform Hedera, HBAR, experienced a significant price surge of over 100% during the early hours of Tuesday. Starting from a low of $0.0875, HBAR skyrocketed to reach the $0.1821 mark by Wednesday.  The sudden surge was triggered by the news of BlackRock's tokenized fund, BUIDL, which generated high expectations among HBAR investors regarding a potential collaboration between the prominent asset manager and the Hedera protocol. Not Directly Connected To Hedera? Launched by BlackRock in March 2024, BUIDL operates as a tokenized fund on the Ethereum blockchain, providing US dollar yields through tokenization.  Initially, an announcement led to confusion among investors, who mistakenly believed that BlackRock would directly tokenize the fund on the Hedera network. This misunderstanding triggered a significant surge in the HBAR price. Upon closer examination of the announcement, it became clear that BlackRock and Hedera had no direct connection, although the initial reaction to the news was noteworthy.  Crypto analysts, who use the pseudonym 'CrediBull' on social media site X (formerly Twitter), shed light on the situation, emphasizing that explicit permission from BlackRock was unnecessary to list tokenized versions of their funds.  It was not a deliberate decision by BlackRock to tokenize on Hedera; rather, an existing platform on the network took the liberty of tokenizing one of B... read More

Binance Converts $1B SAFU Fund to USDC, Now 3% of Circulating Supply

    Binance has announced that it is converting its Secure Asset Fund for Users (SAFU) into Circle’s USD Coin (USDC). Following the $1B conversion into USDC, this stash now makes up approximately 3% of Circle’s total circulating supply, which is $32.6 billion. SAFU Assets Shift to USDC for Stability In an April 18 announcement by Binance, the exchange emphasized the importance of SAFU in its ecosystem. Binance stated, “SAFU continues to be a core part of our responsibility to the ecosystem, and we continue to evolve to meet market conditions head-on. Today, we are transferring 100% of SAFU’s assets to USDC.” Today, all SAFU assets will be converted to $USDC, bolstering reliability and stability at $1bn. Read more — Binance (@binance) April 18, 2024 Binance aims to improve its reliability and maintain stability at $1 billion by using a trusted, audited, and transparent stablecoin for SAFU. SAFU, created in 2018, functions as an emergency insurance reserve that protects Binance users from severe scenarios like exchange breaches, providing a safety net for potential losses. Over the years, Binance has diligently monitored the size of the fund, ensuring that it maintains a balance sufficient to protect its users. While usually targeted at $1 billion, the fund's size undergoes occasional fluctuations. #Binance has completed the swap of all #BTC and #BNB SAFU assets to $USDC - TXIDs can be found below. 799,999,990 USDC int... read More

DigiFT Launches US Dollar Money Market Fund Token to Offer Stablecoin Ho...

    [PRESS RELEASE - Singapore, Singapore, April 8th, 2024] DigiFT, the first on-chain Real World Asset (RWA) exchange regulated by the Monetary Authority of Singapore (MAS), is proud to announce the launch of its second-series RWA depository receipt (DR) token. The DigiFT USD Money Market Fund Token (DMMF), aims to offer a new cash management option for investors interested in exploring alternatives within the crypto space. According to the company, the launch of DMMF token comes at a time when the demand for tokenized financial products is rising. DigiFT asserts that the recent success of BlackRock's tokenized fund, which drew $160 million in just a week since its debut, is an evidence of that. This underscores a growing interest in tokenized funds as attractive investment vehicles in the digital asset market. The DMMF token represents a direct beneficial interest in a money market fund that is managed by an established and licensed fund manager that invests in high-quality, short-term money market instruments and debt securities, including government and corporate bonds, commercial bills, and deposits with eligible financial institutions. Partnering exclusively with licensed institutions in Singapore, the DMMF token is designed to provide a secure and compliant investment solution for investors. Issued on Ethereum and Arbitrum, the DMMF Token is designed to offer stablecoin holders interested in treasuries or cash solutions an additional option for exploring stablecoin yield. ... read More

Cardano Price Tumbles As Grayscale Sells All ADA From Large Cap Fund

    The Cardano (ADA) price is experiencing a notable decrease, dropping by 12% since the start of the week, with a 2.6% dip recorded today alone. Despite this, with a market capitalization of $20.27 billion, ADA maintains its position as the 9th largest cryptocurrency. This recent downturn comes amidst a broader crypto market experiencing mostly sideways to downward movement, with ADA recording more significant losses compared to its peers like ETH, which is down by 7.4%, BNB by 6.4%, Solana by 6.3%, and XRP by 6.1%. Grayscale Dumps Cardano From GDLC A pivotal factor behind Cardano's sharper decline could be linked to the recent liquidation of all ADA holdings by the Grayscale Digital Large Cap Fund (GDLC). The fund, which currently boasts assets under management (AUM) worth $579 million, had Cardano constituting 1.62% of its portfolio on January 4, which amounts to approximately $9.4 million. On Thursday, Grayscale Investments announced the decision as part of its first quarter 2024 review. According to the official press release, the adjustment to GDLC's portfolio entailed the selling of Cardano and reallocating the cash proceeds to existing Fund Components, proportional to their weightings. This rebalancing led to the removal of ADA from GDLC's portfolio. The final composition of the fund as of April 3, 2024, includes Bitcoin (70.96%), Ethereum (21.84%), Solana (4.52%), XRP (1.73%) and Avalanche (0.95%). The press release detailed, 'In accordance with the CoinDesk Large Cap ... read More

NAVI Protocol Introduces NAVI X Ecosystem Fund to Support Sui Blockchain...

    [PRESS RELEASE - New York, United States, April 2nd, 2024] NAVI Protocol has announced the creation of the NAVI X Ecosystem Fund, committing 10M NAVX tokens to support the growth and innovation of the Sui blockchain's DeFi and Move-based ecosystem. This initiative aims to provide vital resources for projects at different stages of development, with a focus on enhancing the Sui blockchain's functionality and user base. The fund is a collaborative effort involving key stakeholders from the DeFi space, designed to equip developers with financial, strategic, and networking resources necessary for the development and scaling of innovative projects on the Sui blockchain. Recognizing the importance of development support, NAVI Protocol's NAVI X Ecosystem Fund aims to foster a nurturing environment for developers. This involves financial backing and also advisory services, industry connections, and marketing support to ensure the sustainable growth of projects within the Sui ecosystem. The fund marks a significant step towards enhancing Sui's DeFi landscape, offering a range of incentives for builders, including hackathon bounties, developer grants, and partner rewards. It seeks to attract and support innovators and developers dedicated to broadening the utility and adoption of the Sui blockchain. NAVI X Ecosystem Fund's main activity will focus on: - Providing financial support to promising projects, thus stimulating growth and innovation. - Enhancing the liquidity and financial sta... read More

Hedge Fund Manager Predicts When Bitcoin Price Will Reach $150,000

    Founder and Chief Executive Officer (CEO) of Morgan Creek Capital Management, Mark Yusko has predicted a massive price increase for Bitcoin during the 2024 bull cycle. Emphasizing  Bitcoin’s immense potential, the hedge fund manager has crowned it as the unrivaled “King” among digital assets. $150,000 Price Target Set For BTC Appearing in a recent interview with CNBC Television on March 27, Yusko shared a bold forecast of Bitcoin, predicting that the cryptocurrency will see a significant rise to $150,000 in 2024.  When asked why he believes the cryptocurrency would have such an astronomical price increase, Yusko cited the impacts of the upcoming Bitcoin halving and Spot Bitcoin Exchange Traded Fund (ETF), on the price of BTC. The hedge fund manager has revealed that historically after a BTC halving cycle is completed, the fair value of the cryptocurrency rises.  He explained that when the upcoming 2024 Bitcoin halving occurs in April, BTC miners will face challenges, with transaction fees poised to soar, consequently driving a price increase to $75,000.  After the Bitcoin halving event, the cryptocurrency is expected to surge two times its fair value to $150,000. The hedge fund manager cited factors like increased interest from investors and Fear of Missing Out (FOMO) as triggers for this price spike.  Yusko also revealed that after the Bitcoin halving, there would be a surge in demand for Spot Bitcoin ETFs, while the supply of new ... read More

Grayscale Launches New Institutional Crypto Fund With Staking Rewards

    On March 29, the firm announced its Grayscale Dynamic Income Fund (GDIF) stating that it is its first actively managed investment product. Grayscale added that the new fund aims to optimize income in the form of staking rewards associated with proof-of-stake crypto assets. It is the latest effort from the world’s largest crypto asset manager to retain clients and capital following a huge exodus from its flagship product (GBTC) and its conversion to a spot Bitcoin ETF. Grayscale Dynamic Income Fund $GDIF is our first actively managed investment product. It seeks to optimize income in the form of staking rewards associated with proof-of-stake digital assets. For important disclosures and more information: — Grayscale (@Grayscale) March 29, 2024 Grayscale Goes Into Staking “Using qualitative and quantitative factors, we invest capital across a portfolio of proof-of-stake tokens,” it stated. The fund will monetize token rewards into cash on a weekly basis, distribute the earnings to investors quarterly, and rebalance tokens to optimize income. The disclosed holdings of the fund were very vague. It will be comprised of 24% of the decentralized Cosmos exchange Osmosis token, OSMO. An additional 20% will be held in Solana (SOL), and 14% will be in Polkadot (DOT). The remaining 43% was mysteriously labeled as “other,” and there was no mention of the world’s largest proof-of-stake token, Eth... read More

Here's How Bitcoin (BTC) Can Reach $150,000 This Year: Hedge Fund Manage...

    Bitcoin's price has been up by more than 60% since the start of the year and it already broke its 2021 all-time high of $69,050 and charted a new one of almost $74,000. What's most impressive about this milestone is that the latest peak came ahead of the fourth halving for the first time ever. With just a month left until BTC's production is sliced by half, the number of bullish predictions keeps rising, and the latest to outline $150,000 as the price target for 2024 is Morgan Creek Capital Management's CEO and CIO - Mark Yusko. BTC at $150K This Year? When speaking to CNBC's Fast Money, Yusko highlighted Bitcoin's benefits over other cryptocurrencies but also its merits when compared to gold. 'Bitcoin is the king. It is the dominant token. It is a better form of gold.' In Yusko's opinion, the spot Bitcoin ETFs in the States, which saw the light of day in January, are the primary factor behind BTC's yearly rise. Indeed, the financial products have seen massive demand from investors, as the net inflows for the first two and a half months of trading have been nothing short of impressive. However, the hedge fund manager believes there's still more room for growth for BTC, especially given the upcoming halving, scheduled to take place in late April. 'The big move happens post-halving. It starts to become more... parabolic toward the end of the year. And, historically about nine months after the halving, so sometime toward Thanksgiving, Christmas, we see the peak in price before t... read More

Wyckoff 'SOS' Could Catapult Bitcoin To $100,000: Hedge Fund Manager

    Charles Edwards, founder of the Bitcoin and digital asset hedge fund Capriole Investments, published a detailed examination of Bitcoin's current market phase suggesting a bullish trajectory, potentially reaching the $100,000 mark. The analysis hinges on the identification of a Wyckoff 'Sign of Strength' (SOS), a concept derived from the century-old Wyckoff Method that studies supply and demand dynamics to forecast price movements. Understanding The Wyckoff 'SOS': Bitcoin To $100,000? The Wyckoff Method, developed by Richard D. Wyckoff, is a framework for understanding market structures and predicting future price movements through the analysis of price action, volume, and time. The 'Sign of Strength' (SOS) within this methodology signifies a point where the market shows evidence of demand overpowering supply, indicating a strong bullish outlook. Edwards's observation of an SOS pattern in Bitcoin's recent price movements suggests that the market is at a pivotal point, where sustained upward momentum is highly probable. In Capriole's latest newsletter, Edwards offered a precise depiction of Bitcoin's market behavior, highlighting a period of volatility and consolidation in the $60,000 to $70,000 range. This phase was anticipated by the hedge fund. Currently, as Bitcoin ventures above its last cycle's all-time highs, it aligns with the predicted zig-zag SOS structure. Edwards elucidates, 'It would not be surprising to see a liquidity grab at / into all-time highs All consolidat... read More

Bitcoin Recovery Attempts Halted as ETF Outflows Continue, World's Bigge...

    Things move fast in the cryptocurrency space, and the landscape tends to change quickly, especially price-wise. This has indeed been the past within the past seven days. It was just a week ago when Bitcoin's price was soaring high, charting fresh all-time highs almost daily. The latest peak came last Thursday when BTC neared $73,800 for the first time ever. However, the situation started to change a day later when the cryptocurrency dumped to $66,000, and it's even worse now. Last weekend saw minor recovery attempts but BTC dropped once more at the start of the current business week. The minor outflows from spot Bitcoin ETFs and the fears regarding the Tuesday FOMC meeting were blamed at the time. Once that meeting was concluded, the asset indeed changed its trajectory, soared by 4% immediately and pumped above $68,000 on Wednesday morning. However, that was short-lived as the ETF outflows continued and registered the fourth consecutive day of money being primarily taken out yesterday. This further depressed BTC's price, which failed at its recovery attempts and headed south once again today. As of now, the primary cryptocurrency struggles to remain above $63,000, as the asset is 5% down on the day and more than 7% within the past week. Most altcoins have followed suit with notable weekly declines. Ethereum, for example, stood above $4,000 last week but is at $3,300 now. ADA, DOT, MATIC, and NEAR have dumped by double digits within the same timeframe. Market Data Market Cap: ... read More

BlackRock Pivots to RWA, With Planned Ethereum Tokenized Asset Fund

    On March 19, BlackRock revealed that it is preparing to offer a fund through a partnership with digital asset tokenization specialist Securitize. According to a filing to the US Securities and Exchange Commission, the Wall Street giant plans to launch the “BlackRock USD Institutional Digital Liquidity Fund.” However, the total size of the fund was not disclosed. It feels very good for Ethereum, commented Galaxy CEO Mike Novogratz on March 20. This feels very important for $Eth!!! — Mike Novogratz (@novogratz) March 19, 2024 BackRock Pivot to RWA The fund will be based on the Ethereum blockchain and will trade under the ticker BUIDL. The Ethereum address hosting it had its first transfer around two weeks ago, according to Etherscan. It contains 100 BUIDL tokens and has one holder. BlackRock’s real-world asset (RWA) tokenization partner, Securitize, is already working with KKR, Hamilton Lane, and others on tokenized funds, reported Bloomberg. However, the new product is only available to institutional investors, with the minimum investment accepted set at $100,000. RWA tokenization is a process of putting traditional assets such as gold, commodities, treasuries, and real estate on the blockchain. It has been predicted to become a multi-trillion-dollar industry over the next decade, and Wall Street wants in on the action. Big banks such as JPMorgan, Citi, and Bank of America are all experimenting with RWA tokenization. Private we... read More

These Crypto Exchanges Will Support the SLERF Community Following Presal...

    Crypto exchanges HTX (formerly Huobi), Bitget, and BingX have pledged to donate trading fees to support the Slerf community after the anonymous meme coin developer accidentally burned $10 million in presale funds. Despite this setback, market speculators aggressively pumped the token, increasing its value by over 5,000% and sending its price above the $1 mark. Crypto Platforms Step Up to Support Slerf Community In a March 19 X announcement, cryptocurrency mogul Justin Sun revealed that HTX would direct trading fees to individuals who participated in the private sale on HTX. Additionally, the company plans to allocate HTX tokens for SLERF's trading fee mining to benefit users on its platform. As No.1 trading markets for @Slerfsol, HTX have decided to donate all Slerf trading revenue on @HTX_Global and allocate it to everyone who participated in private sale on HTX, as well as donate some #HTX for Slerf’s trading fee mining on! User first? — H.E. Justin Sun ??? (@justinsuntron) March 19, 2024 Following Sun's announcement, Bitget's managing director, Gracy Chen, stated that Bitget would allocate all SLERF trading fees to support the community, focusing on aiding those involved in the presale. Chen committed to providing details of donations on a weekly basis. Moreover, BingX from Singapore announced its decision to donate trading fees from users' SLERF spot trades and distribute future BingX Global Debut tokens to addresses that participated... read More

Japan's $1.5 Trillion GPIF Pension Fund Eyes Bitcoin Amidst Surging Mark...

    Japan's Government Pension Investment Fund (GPIF), managing a staggering $1.5 trillion, has initiated inquiries into diversifying its portfolio, eyeing assets like Bitcoin in addition to gold, forests, and farmland. The latest move is a call for information and doesn't signify an immediate expansion of investment targets, including Bitcoin. World's Largest Pension Fund Explores Bitcoin Founded in 2006, GPIF is the largest pool of retirement savings in the world. The administrative agency established by the Japanese government has announced fresh long-term investment strategies. The latest move is prompted by significant shifts in the economy and society, alongside rapid technological advancements, according to the official document released on March 19th. As such, the GPIF is initiating a comprehensive five-year investigation scheme aimed at identifying efforts to broaden investment horizons, prioritizing sustainability and risk mitigation. The pension fund has called for data with regard to various potential diversification tools. This encompasses assets categorized as 'illiquid' and currently absent from its holdings, such as crypto assets like Bitcoin, precious metals like gold, and other assets. GPIF currently directs its investments toward different sectors, including domestic bonds, domestic stocks, foreign bonds, foreign stocks, private equity, real estate, and infrastructure. Hence, the decision to explore Bitcoin appears to be crucial at a time when investor sentimen... read More

Japan's $1.5 Trillion Pension Fund To Assess Bitcoin For Diversification

    The Government Pension Investment Fund (GPIF) of Japan, the world’s largest pension fund with assets totaling $1.5 trillion, has officially announced its initiative to explore diversification opportunities that include Bitcoin, alongside traditional investments such as gold and more unconventional assets like forests and farmland. This exploration marks a monumental potential pivot in the investment strategy of a fund traditionally associated with more conservative asset classes. Japan GPIF Seeks Information On Bitcoin According to a Bloomberg report dated March 19, 2024, GPIF is in the initial phase of this exploration, focusing on an information request stage rather than signaling an imminent expansion of its investment portfolio. The fund currently diversifies its holdings across a vast array of assets, including domestic and international stocks and bonds, infrastructure, and real estate. With assets under management valued at approximately 225 trillion yen as of the end of December 2023, the GPIF's interest in Bitcoin and other illiquid assets underscores a notable shift towards broadening its investment aperture. The GPIF stated, 'In addition to basic knowledge about the assets targeted for information provision, we are also seeking information on how overseas pension funds incorporate them into their portfolios and actual investment cases.' This reflects a methodical approach to understanding the potential benefits and risks associated with diversifying into les... read More

Solana Market Cap Set To Skyrocket 1,000%, Says Crypto Fund CEO

    Joe McCann, the CEO and CIO of the crypto hedge fund Asymmetric, recently made a bold statement on X (formerly Twitter), forecasting a $1 trillion market cap for Solana. McCann's argument hinges on several key points that detail why he believes Solana has achieved product-market fit (PMF) as 'The Chain for Retail,' juxtaposing it against Ethereum's challenges and perceived shortcomings for retail users. Solana Beats Ethereum McCann critiques Ethereum for not being designed with retail in mind, pointing out its slow and expensive Layer 1 (L1) transactions, alongside the user experience (UX) nightmare posed by its numerous Layer 2 (L2) solutions. He states, 'Ethereum is not a chain designed for retail - the L1 is too slow and expensive and the L2s are (currently) a UX nightmare.' The friction for new users, fragmented liquidity across over “40 L2s”, and the complications with bridging are highlighted as significant barriers to Ethereum's adoption by a broader retail audience. Turning his attention to corporate-backed open-source projects like Coinbase's L2 solution, Base, McCann acknowledges their potential to solve some UX issues. However, he also notes the inherent priority of such projects to serve corporate interests, often at the expense of broader community needs. Despite his critique, he admits, 'Most corporate open source ultimately ends up serving corporate priorities...and it should!' This acknowledgment underscores the complexity of balancing corporate i... read More

Bitcoin Crash Triggered By Failed $1 Billion Hedge Fund Spread Trade: Ex...

    The Bitcoin price has crashed from over $72,000 yesterday to as low as $65,500. As reported earlier today, there are several obvious reasons for this, such as the liquidation of extensive long positions on the red-hot futures market, expectations of a 'higher for longer' policy by the US Federal Reserve as a result of hotter than expected inflation data and a relatively weak inflow day for the spot ETFs yesterday. Did This Trigger The Bitcoin Crash? However, there is also a rumor that reveals yet another hidden reason for the crash: a failed spread trade by a hedge fund that resulted in over a billion dollars in losses. Andrew Kang, the founder of Mechanism Capital, revealed on X the intricate details of this debacle. 'Apparently a fund blew out $1b+ on the MSTR-BTC spread trade today. They covered into the close which is why BTC dumped and MSTR premium went to the highs. PNL pocketed by based Saylor and will be put back into BTC.' Kang had earlier elucidated the precarious nature of market transitions, citing the downfall of several major players due to flawed delta-neutral strategies. 'You get some really wonky stuff that happens in market trend transitions. Like large delta-neutral funds/institutions getting blown out on 'risk-free' spread trades,' Kang remarked, pointing to past failures of notable firms like Blockfi, DCG, Genesis, Three Arrow Capital and Alameda. MicroStrategy, under the leadership of Michael Saylor, has notably been a leveraged play on Bitcoin, with it... read More

Here's Why This Student-Run Investment Fund Allocated 7% of its Portfoli...

    The Stanford Blyth Fund, a student-run investment entity at the university, purchased Bitcoin (BTC) at $45,000 in February after a scholar pitched the asset during a meeting. According to a tweet by Kole Lee, a computer science major and leader at the Stanford Blockchain Club, the Blyth Fund has allocated approximately 7% of its portfolio to Bitcoin following the purchase. Stanford Endowment Buys BTC The Blyth Fund, created in 1978 by an anonymous donor in honor of legendary banker Charles Blyth, manages a six-figure portion of Stanford University's endowment through investments in assets like stocks and bonds. The fund supports education by giving students an opportunity to invest their money and channeling 25% of the investment returns to Stanford University's financial aid. During Lee's pitch to the fund in February, he focused on crypto market cycles, exchange-traded fund (ETF) inflows, and a hedge against 'monetary chaos and war.' The computer science scholar pushed the idea of investing in the iShares Bitcoin ETF (IBIT) issued by BlackRock, the world's largest asset manager. The outcome of the pitch was a BTC purchase and a 7% portfolio allocation to the leading digital asset. Notably, IBIT is the largest and best-performing product of the ten spot Bitcoin ETFs, with more than $11 billion in assets under management and a daily inflow of $420 million on March 4. Rising BTC Adoption The Blyth Fund's BTC purchase is evidence of the rising adoption of the relatively novel d... read More

BlackRock Wants to Buy Spot Bitcoin ETFs for Global Allocation Fund

    BlackRock has recently updated its filing with the Securities and Exchange Commission (SEC), indicating its intention to purchase spot Bitcoin ETFs for its Global Allocation Fund (MALOX). The March 7 filing states that MALOX may acquire shares of BlackRock’s spot Bitcoin ETF, IBIT, and ETFs offered by other issuers, with the fund exclusively investing in ETPs traded and listed on national securities exchanges. BlackRock Interest in Spot Bitcoin ETFs Established in 1989, the BlackRock Global Allocation Fund aims to generate investment returns through a fully managed policy using U.S. foreign equity, debt, and money market securities, including holdings in companies like Apple. BlackRock also recently updated a filing for its Strategic Income Opportunities Fund (BSIIX) on March 4, indicating a similar interest in purchasing spot Bitcoin ETFs. Meanwhile, in a March 6 Filing, the SEC has postponed its decision on Nasdaq’s bid to offer options on BlackRock’s iShares Bitcoin Trust (IBIT), citing the need for “sufficient time to consider” Nasdaq’s request. In a separate filing, the agency has also extended the response time for both the Cboe Exchange and the Miami International Securities Exchange. The platforms had initially filed to list spot Bitcoin ETF options on January 25, and the SEC's initial decision deadline was set for March 10 under U.S. securities laws, which allow 45 days for a decision or deferral. With this deferral, the agency now... read More

Entering Top 150 ETFs: BlackRock's IBIT Bitcoin Fund Surpasses $10 Billi...

    BlackRock's IBIT spot Bitcoin exchange-traded fund (ETF) has reached $10 billion in assets under management (AUM) within seven weeks of its launch on January 11. The fund now holds over 162,000 Bitcoin, making it one of the few ETFs to surpass the $10 billion mark. Spot Bitcoin ETF Performance Nate Geraci, president of the ETF store, provided context for IBIT's achievement, highlighting that only a fraction of ETFs globally have surpassed the $10 billion AUM mark, with the majority being established over a decade ago. iShares Bitcoin ETF now > $9bil in assets... This thing could hit $10bil today or tomorrow. For context, only about 150 out of 3,400 ETFs have > $10bil AUM. The vast majority of those launched 10+yrs ago. IBIT could hit this mark in 7 weeks. — Nate Geraci (@NateGeraci) February 29, 2024 IBIT’s performance was also shown by its inflows on Thursday, contributing $603.9 million to its assets under management, narrowly missing the record set the day before at $612.1 million. However, this increase was partially offset by outflows from Grayscale's GBTC, amounting to $598.9 million, marking the second-largest outflow recorded. Despite the surge in outflows from Grayscale's GBTC, other U.S. spot Bitcoin ETFs, such as Fidelity's FBTC and Bitwise's BITB, witnessed notable inflows. Net inflows for all U.S. spot Bitcoin ETFs combined experienced a decline to $92.4 million on Thursday, compared to the record $673.4 million seen just a day earlier. Following IB... read More

Edward Snowden Supports Legal Defense Fund for Tornado Cash Developers

    A legal fund supporting the defense of Tornado Cash developers Roman Storm and Alexey Pertsev has amassed over $350,000 in contributions and gained public backing from Edward Snowden, the former NSA whistleblower. Tornado Cash has been linked to North Korean hackers and the $600 million Ronin Network attack money laundering. Tornado Cash Legal Defense DAO Campaign Yesterday, Storm announced on X his intention to launch a decentralized autonomous organization (DAO) campaign to raise funds for legal representation. Storm, one of the developers behind Tornado Cash, is facing money laundering charges by the U.S. Department of Justice, with a trial expected in 2024. Another developer and co-founder, Roman Semenov, also faces charges but has not been arrested. 2024 is the year that will define the rest of my life. Honestly, I’m scared. But also hopeful that this community cares with a passion. Please donate towards my legal defense. — Roman S (@rstormsf) January 22, 2024 Tornado Cash gained popularity as a cryptocurrency coin mixing application, enabling users to send and receive Ethereum anonymously, the second-largest digital asset by market cap. However, in 2022, the Department of the Treasury's Office of Foreign Assets Control (OFAC) banned Americans from utilizing the service, alleging that criminals had exploited it for money laundering. Subsequently, Storm and Semenov were accused of laundering over $1 bill... read More

New Web3 and Blockchain Focused VC Fund, Paper Ventures, Launched With I...

    Paper Ventures, a new blockchain venture capital (VC) fund focused on early-stage Web3 and blockchain projects, has been launched with an initial fund of $25 million. The fund, founded by experienced venture capitalists, will not only invest in outstanding projects but will help nurture them.New Fund Backed by Leading Industry Figures A new blockchain venture capital (VC) fund, Paper Ventures, has been launched with an initial fund of $25 million earmarked for investment in early-stage Web3 and blockchain projects. The fund was mobilized from traditional hedge funds, family offices, exchanges, founders, and high net worth (HNW) crypto OGs. The VC, which claims to have the backing of some prominent industry figures, said it not only seeks to fund but also to nurture outstanding projects. According to a statement, Danish Chaudhry, Oliver Blakey, and Ivailo Jordanov are the founders of Paper Ventures. The three are experienced in investing in Web3 projects. Some of the projects which the trio helped to secure early funding include Frax Finance, SEI, Polygon, Injective, Polkadot, Moonbeam and Cosmos. Commenting on the launch of the fund, co-founder Blakey, a former poker pro, said: 'We are more than just investors. Our mission at Paper Ventures is to be at the very forefront of innovation, fostering groundbreaking ideas that redefine the boundaries of technology and finance. We believe in the transformative power of blockchain and are committed to supporting those who are as pas... read More

Egyptian Fintech Startup Zeal Secures $4 Million to Fund Expansion to Ne...

    The Egyptian fintech startup has revealed that it recently raised $4 million in funding via a round led by venture capital firms Raed Ventures and Cur8 Capital. CEO said the firm's capital raise is expected to help Zeal accelerate its journey 'towards utilizing AI to revolutionize retail customer engagement on a global scale.'Enterprise Investment Scheme Tax Relief Advanced Assurance Egyptian fintech startup Zeal has secured $4 million in funding to help the firm enter the European, Middle Eastern, and African markets. The funding round was led by two venture capital firms, Raed Ventures and Cur8 Capital, with the participation of several angel investors. According to a Techpoint Africa report, Zeal’s latest capital raise announcement came less than a year after the fintech startup received an Enterprise Investment Scheme (EIS) tax relief advanced assurance. The United Kingdom's tax authority HM Revenues and Customs (HMRC) uses this to determine if a company qualifies for the tax benefits associated with the schemes. Omar Ebeid, the CEO of the customer loyalty fintech startup, suggested that the capital raised will also be used to enhance Zeal’s connection with customers. 'This investment will accelerate our journey towards utilizing AI to revolutionize retail customer engagement on a global scale. We are committed to broadening our impact, with a focus on connecting billions of customers with millions of retailers,' the CEO said. Meanwhile, Wael Nafee from Raed ... read More

C1 Fund and Spartan Group Forge Strategic Partnership to Propel Digital ...

    [PRESS RELEASE - Dubai, United Arab Emirates, January 17th, 2024] C1 and Spartan Group Unite Forces to Drive Liquidity, Innovation and Growth. C1 Fund, a $500 million fund dedicated to secondaries in the digital assets space has announced a strategic partnership with the Spartan Group, a prominent Asia-based advisory and asset management firm with an extensive and impressive track record in advising and investing across all verticals in the Web3 sector. C1 Fund has rapidly emerged as a leading player in the digital assets investment space, leveraging its substantial capital to actively participate in secondary markets, where it identifies and seizes opportunities for investment and growth. With a mission to unlock value in the digital assets ecosystem, C1 Fund strategically acquires stakes from existing investors and provides immediate liquidity. The partnership with Spartan Group signifies a key milestone for C1 Fund, as Spartan Group brings unparalleled expertise and a proven history of success in advising on multi-billion-dollar M&A transactions and fundraises within the digital assets sector. Spartan Group has consistently demonstrated its commitment to working closely with visionary founders and top-tier management teams, earning a reputation as a trusted advisor to some of the most recognized projects in the Web3 space. We are thrilled to join forces with Spartan Group, said Dr. Najam Kidwai, CEO & Co-Founder of C1 Fund. 'Spartan’s deep understanding of the crypto... read More

Grayscale Bitcoin ETF Bleeds: Traders Make $579 Million Run On The Fund

    Grayscale, an American digital asset management company, has witnessed a staggering amount of outflows in its Spot Bitcoin ETF, Grayscale Bitcoin Trust (GBTC). Analysts speculate that the outflows may be linked to several factors, including high trading fees and accounting irregularities.  Grayscale Experiences Massive Outflows After successfully securing approval for its Spot Bitcoin ETF against the United States Securities and Exchange Commission (SEC), Grayscale experienced steady inflows in its GBTC. However, recent reports suggest that the company’s gains may have been premature, as Grayscale’s GBTC recently experienced a significant outflow of approximately $594 million.  According to James Seyffart, a Bloomberg Analyst on X (formerly Twitter), Grayscale has encountered total net outflows of $1.173 billion for its Spot Bitcoin ETF.  Seyffart presented a screenshot of a spreadsheet detailing the cumulative inflows and trading volumes witnessed by various Spot btc ETF companies, including Bitwise, ARK/21 Shares, VanEck, and more. The analyst revealed that while many of these companies saw large amounts of inflows, the gains were not sufficient enough to offset Grayscale’s substantial outflow of almost $600 million.  Seyffart suggested that Grayscale’s lagging outflows may be a result of T+1 accounting and settlement processes causing outflows from previous days to be reflected in recent data. On the other hand, an X user has pu... read More

A 2021 Crypto Fund Manager's Tale of Surviving the 'Widowmaker Trade'

    Offering a unique insider perspective, David Choi chronicles his encounter with arguably the most notorious trade in crypto's history.Unpacking the 'Widowmaker Trade' That Upended the Crypto Industry In the annals of cryptocurrency's roller coaster history, 2021's so-called 'widowmaker trade' stands out for many reasons, including the amount of veterans it caught by surprise and the number of entities like Three Arrows Capital (3AC), Blockfi, and FTX that ultimately were undone by it. David Choi, an angel investor, MEV sniper and former crypto fund manager, shared a fascinating insider's account in a thread on X, detailing his journey through the infamous widowmaker trade. 1/ I lost -$700k in a single trade… and I was lucky. In 2021, it was known as the Widowmaker Trade. The single reason for all the blowups (3AC, Blockfi, Silvergate, FTX). I even sent an email & had a call about the systemic risk, but the market was pumping, so who cared? Me - David Choi 🏧 (@0xZergs) January 13, 2024 The trade centered on Grayscale's crypto trust products. Due to their unique structure, these products often traded at a significant premium, which was partly due to many investors having difficulty accessing cryptocurrencies, even major ones like bitcoin (BTC) and ethereum (ETH) at the time. As a result, the value of the Greyscale trust shares were frequently higher than the value of the underlying crypto assets. This premium presented a seemingly luc... read More

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