BlockTower Capital's hedge fund raises $140m

Investors of the American cryptocurrency hedge fund BlockTower Capital were Union Square Ventures LLC, Andreessen Horowitz and others
05 January 2018   827

The rapid growth of bitcoin and altcoins last year coincided with the launch of futures, which allow investors to work with cryptocurrencies in regulated markets. Another evidence of the penetration of bitcoin into the world of traditional finance can be the emergence of a large number of crypto-currency funds. One of them has already attracted $ 140 million.

According to Bloomberg, the investors of the American fund BlockTower Capital were Union Square Ventures LLC, Andreessen Horowitz, as well as several venture capital companies and companies for the trust management of family capital. Recently BlockTower notified potential investors that since January 1, the collection of funds within the framework of the main fund has ceased.

In addition, Michael Buchella, former vice-president of Goldman Sachs Group, joined the fund's team as head of business development.

According to Morgan Stanley, more than 100 funds are already working in the crypto-currency area, under management of which there are assets worth $ 2 billion. Large companies, such as Goldman Sachs, also take part in this process, providing their clients with clearing services for crypto-exchange contracts.

Hedge Fund Research has launched an index that tracks the performance of funds working in this area. It was found that in November the yield of funds investing in crypto-currencies and the blockchain-company amounted to 1,500%, while the profitability of funds, whose investments are limited to digital assets, exceeded 1,600%.

Recall that in December BlockTower put a million dollars to the fact that before the end of this year, the bitcoin rate will reach $ 50,000.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   79

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.