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   543

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.

NAGA to release an improved trading platform

A new Web-Trader, a state-of-art trading platform with all the ecosystem features is rolling out on June 22
20 June 2018   138

A live release of Naga Trader's brand new Web-Trader is going take place on June 22. In partnership with TradingView the trading experience will be doubled with the top-notch charts. The release will feature the following:

  • A state of the art code base
  • Full Real-Time Pricing service
  • Mobile responsive for all devices
  • White-Clean Design
  • Trading with extensive Charting, AutoCopying and Leaderboard

Until all the new features are finalized, users will be able to use both the old and the new platforms. The Naga Coin is a decentralized cryptocurrency for trading and investing in financial markets, virtual goods and cryptocurrencies. It shall become the driver of a sustainable economy where demand grows as more and more users, financial institutions, and game-publishers join the NAGA ecosystem.

Price-wise, Naga characteristics are as follows:

Average price 0.339047 USD
Market cap 19,553,633 USD
Volume (24H) 2,743,190 USD