Day: February 22, 2019

Crypto Hedge Fund Pantera Capital Seals $130 Million for Third Crypto Venture Fund

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Crypto hedge fund Pantera Capital has already sealed $130 million out of a $175 million target for its third crypto venture fund. The development was shared with Cointelegraph in private correspondence with Pantera president Bill Healy on Feb. 22. For Pantera’s debut fund in 2013, the firm had raised $13 million, rising to $25 million for its second. As reported in August 2018, Pantera raised the game for its third offering, saying at the time that the $175 million target was “a function of how fast the space is moving,…

Is $1,000,000 for Bitcoin Real? IBM’s VP of Blockchain Jesse Lund Thinks It Is

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Photo: QuoteInspector Bitcoin (BTC) continues to be the darling of global investors despite the recent crypto winter. Recently, Jesse Lund, VP of Blockchain and Digital Currencies at IBM showered praises on Bitcoin. Mr. Lund remains ultra-bullish on the future of Bitcoin in the long term. In a recent interview published by Finder.com on YouTube, Mr. Lund says that the Bitcoin price will eventually reach $1 million in the long term. He also went to say that higher the price of the crypto asset, higher will be its utility. Thus, Mr. Lund…

Bitcoin Price Plunge to $3,700 Expected; Retreat is a Blessing For Crypto

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Following a rapid surge in the Bitcoin price from $3,614 to $4,000 within a span of three days, traders are expecting BTC to retrace by around 7 percent to $3,700. The cautious projection on the price trend of the dominant crypto asset comes after the failure of BTC to climb beyond the crucial $4,000 resistance level. On February 19, BTC achieved $4,000 across major crypto exchanges including Bitstamp and Binance. Shortly thereafter, it fell to the low $3,900 region and today, below the $3,900 level. What does Will Bitcoin Pullback…

Andreas M. Antonopoulos Warns Against Ethereum Community In-Fighting

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The author of two widely acclaimed books on cryptocurrency offered advice to developers building ethereum, the world’s second-largest blockchain, this weekend, arguing they should be careful to avoid fragmenting their technical community through infighting. Andreas M. Antonopoulos, whose books “Mastering Bitcoin” and “Mastering Ethereum” are now standards for developers learning both protocols, gave a keynote address about the importance of building “unstoppable code” to hackers and enthusiasts at ETHDenver, a conference that drew thousands to Colorado to discuss the future of the protocol. “Don’t give yourself the power to stop unstoppable code.…

CME Bitcoin Futures See Record Volumes, Big Signal For Rising Institutional Demand

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This week saw the highest ever volume for Bitcoin futures on the Chicago Mercantile Exchange as volume exceeded 18,000. The big signal is that institutional investors are paying attention as futures contracts get snapped up at an ever-increasing rate. Record BTC Contract Volumes on CME According to stats from the CME there were 18,338 on Wednesday, the highest figure ever recorded. This is equivalent to 91,690 Bitcoins or roughly $365 million at today’s prices. Source: CME Futures contracts enable speculators to bet on the prices rather than purchasing the physical…

US Decision on Bitcoin ETF Will Set Tone for Local Crypto Market

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An official at South Korea’s sole securities exchange operator, the Korea Exchange (KRX), says the bourse is closely eyeing developments from United States regulators in regard to Bitcoin (BTC) exchange-traded funds (ETFs). The official, reportedly speaking on condition of anonymity, was cited by local English-language daily The Korea Herald on Feb. 20. ETFs are securities that track a basket of assets proportionately represented in the fund’s shares. They are seen by some as a potential development that would herald the widespread adoption of crypto as a regulated and passive investment…

Texas Cryptocurrency Businesses Agree to Halt Token Offerings After Cease and Desist

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Texas’ state securities regulator announced it had reached an agreement with four cryptocurrency companies it accused of selling unregistered securities, according to an order released on Feb. 21. The result of a nine-month process, Mintage Mining, BC Holdings and Investments, Social Membership Network Holding, Nui Social and manager Darren Olayan agreed to refrain from offering cryptocurrency tokens to investors. As respondents listed in the order, the entities will also pay an administrative fine of $25,000. In July last year, the Texas State Securities Board (SSB) identified token offerings by the…

Tesla Creator Elon Musk Reveals His Crypto Holdings

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Photo: Web Summit / Flickr Recently, we reported that Tesla CEO Elon Musk believes cryptos are much better than traditional money and sees Bitcoin as a currency with “quite brilliant structure”. He said that cryptos provide a better alternative to conventional money. However, despite his enthusiasm, Musk himself owns a very little amount of cryptocurrency, all of which is denominated in Bitcoin. Musk wrote about that on his Twitter: That said, I still only own 0.25 BTC, which a friend sent me several years ago. Don’t have any crypto holdings. — Elon Musk…

University of Michigan Endowment Ups Investment in Andreessen Horowitz Crypto Venture Fund

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The University of Michigan’s $12 billion endowment plans to bolster its investment in a “cryptonetwork technology fund” (CNK Fund I) managed by American venture capital firm Andreessen Horowitz. The development was revealed in the agenda for the university’s Board of Regents meeting on Feb. 21. According to the document, the endowment had already committed $3 million to CNK Fund I in June 2018 and has now included it as an approved partnership for a follow-on investment, amount unspecified. The agenda states that the fund — created by the Menlo Park,…

Craig Wright Bitcoin SV Group Controversially Rebrands as ‘Bitcoin Association’

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nChain CEO Jimmy Nguyen’s bComm Association, an organization which actively promotes Bitcoin SV for merchants, has rebranded itself to the “Bitcoin Association.” While the organization has no members from the wider Bitcoin community but instead lists people like Craig Wright, Calvin Ayre, and David Li, the step signals the belief that “Bitcoin SV is the true Bitcoin.” The new Bitcoin Association, which acquired the handle “BitcoinAssn” on Twitter, offers free membership to businesses and enterprises: If you are a #Business or #Enterprise sign up to The #Bitcoin Association for freehttps://t.co/6kFUt3QEdV@BitcoinAssn…