UK Watchdog to Approve First Crypto Hedge Fund

Now Prime Factor Capital will be able to manage assets of more than 100 million euros worth
03 July 2019   957

London-based hedge fund Prime Factor Capital has become the first cryptocurrency investment firm to be approved by the UK Financial Supervision Authority, Bloomberg reports.

The company will be regulated by the British financial regulator as a full-fledged manager of an alternative investment fund, and will also be subject to the laws of the European Union.

Thus, Prime Factor Capital will be able to hold assets of more than 100 million euros under management.

As reported by Coindesk, the founders believe that by focusing on a single asset class, even one that carries market distrust, they will surge ahead of their global competitors and become the trusted authority in crypto investing.

Also, according to European regulations, Prime Factor Capital should hire an independent custodian who will be entrusted with the task of controlling the payment of income to investors and the assets of the fund.

The company was founded in early 2018 by Michael Wong and Adam Grimsley, in the past the leading portfolio managers of the BlackRock Inc. investment fund. The position of executive director of Prime Factor Capital is held by Nick Nidermovve, a former trader of RWE AG in the market of energy derivatives.

Casa to Launch Lightning Node Mobile App Called Sats

Casa to Launch Sats App With Lightning Network Support
04 July 2019   930

Casa startup, specializing in the creation of secure storage systems for private keys, introduced a mobile bitcoin application Sats App, which makes it easy to manage Lightning-node.

Sats App is positioned as a non-custodial bitcoin wallet "with unique functions." According to Casa CEO Jeremy Welch, the SatsBack reward program will soon be launched, under which users will receive small amounts in BTC. For example, for connecting an application and a Casa Node device to each other, the user will receive 20,000 Satoshi.

Features are focused on increasing adoption of bitcoin and lightning nodes. You will be able to earn bitcoin if you don’t have a Casa node, but you will be able to earn bitcoin faster if you have a node.
 

Jeremy Welch 

CEO, Casa

He also added that the application, available for iOS and Android, is “secure, private and connects via Tor”.

According to CoinDesk, the startup earlier raised $ 3.5 million from Castle Island Ventures, Boost VC and Compound, and several other investors. Currently, a startup staff of 25 people serves users from 60 countries.