Former BlackRock Specialists Created Bitcoin Hedge Fund

Two ex-BlackRock fixed income managers have joined forces to set up a cryptocurrency hedge fund called Prime Factor Capital
01 February 2018   1122

Adam Grimsley, who was a fixed income specialist for eight years at the BlackRock fund giant, and Michael Wong, who headed up fixed income asset allocation, have teamed up to launch Prime Factor Capital with Nic Niedermowwe, who entered the crypto space in early 2017 with a market-making business.

Niedermowwe will head up the new firm as chief executive while Wong and Grimsley will be CIO and head of investment solutions.

We want to become the BlackRock of crypto asset managers. Regulation is still in its early stages but it is evolving rapidly and we are working with regulators to ensure we are ahead of the game.

 

Nic Niedermowwe

The trio said they have seen the most demand from family offices, high-net-worth clients, and professional investors, while they predicted institutions to move in as well eventually.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   125

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 
 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.