Arrington will create a $100 million fund in XRP

He has announced to create hedge fund to support ICOs
30 November 2017   2097

TechCrunch founder Michael Arrington has announced to create hedge fund which will be called Arrington XRP Capital. investors will buy shares of the fund and receive distributions in XRP. It is the native cryptocurrency of the Ripple Consensus Ledger (RCL) which is the fourth largest cryptocurrency by total market cap.

We’ll pay our own fees and salaries out in XRP as well. We want to “eat our own dog food” and be active users of crypto currencies in as many parts of our fund operations as possible, not just investors. This will make us better investors.

 

Michael Arrington

TechCrunch founder

The founding partners of Arrington XRP Capital decided to denominate the fund in cryptocurrency rather than fiat. It makes it easier for cryptocurrency holders and foreign investors to participate in the fund. They chose XRP because its fast and secure settlement infrastructure. Besides it has also been adopted by big companies for example American Express.

The fund is going to invest in cryptocurrencies and initial coin offerings (ICOs), and it may be it will obtain small equity stakes in blockchain startups.

Coincheck OTC to List ETH & XRP

OTC-platform from Coincheck aimed at large investors, started working about two weeks ago and minimum transaction threshold is 50 BTC
15 April 2019   306

Coincheck has added support for Ethereum (ETH) and Ripple's XRP token to the recently launched over-the-counter (OTC) platform. This is reported by Cointelegraph.

In addition to ETH and XRP, the Coincheck OTC platform supports Bitcoin. The management of the marketplace plans to add other cryptoactives in the future.

OTC platforms are focused mainly on large traders who want to reduce transaction costs when working with large amounts. In particular, transactions on such platforms are carried out outside the main book of exchange orders, which sometimes allows to avoid excessive price fluctuations. In addition, at such sites, investors often have the opportunity to buy or sell an asset at a better price.

OTC-platform from Coincheck started working about two weeks ago. The minimum transaction threshold is 50 BTC.

Last year, Coincheck fell victim to a massive hacker attack, during which over $ 500 million in XEM equivalent was stolen.

Then the exchange was bought by a large online broker Monex Group Inc. The deal amounted to $ 33.6 million.