Tag: Investments

Nasdaq Leads $20 Million Funding Round for Blockchain Startup Symbiont

Coin Desk
Enterprise blockchain startup Symbiont has closed a $20 million Series-B funding round led by Nasdaq Ventures with participation from Galaxy Digital, Citi, Raptor Group and others. The firm, which has kept a fairly low profile the last two years as the cryptocurrency market’s gyrations overshadowed the enterprise sector, previously raised a combined $15.4 million from a seed round in 2014 and Series A in 2017. Symbiont CEO Mark Smith told CoinDesk that the firm doubled its staff last year, and now has more than 60 employees. “We have been very good stewards of capital for the six years we have been in business. I think we have done more with less than anybody out there,” Smith said. “So it was time for us to do a bigger round and adding the Nasdaq as an investor and partner, and Citi as a

Poll: 63 Percent of Senior Execs Lack Understanding of Blockchain Tech

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY
In a survey of institutional investors by the Global Blockchain Business Council (GBBC), 63 percent of respondents believe that senior business executives have a poor understanding of blockchain technology. Cointelegraph acquired a copy of the study on Jan. 22.In December and January the market research company PollRight interviewed 71 institutional investors, including private equity, hedge funds and pension funds on behalf of GBBC — a trading association for the blockchain ecosystem.While most respondents believe that senior business executives do not understand blockchain, 30 percent consider their knowledge of the emerging technology as “average.” The remaining 7 percent described senior executive understanding of blockchain as “good.”Moreover, 76 percent of respondents claimed they do
Bitcoin’s Price Counters the VIX, Confirming It’s Still a Risk Asset

Bitcoin’s Price Counters the VIX, Confirming It’s Still a Risk Asset

BITCOIN, Coin Desk
Evidence is emerging that bitcoin has yet to truly earn its reputation as an “uncorreleated asset.” Case and point, bitcoin’s latest sell-off from $6,000 to nearly $3,000 was accompanied by a surge in the CBOE Volatility Index (VIX). The VIX measures the 30-day forward-looking volatility of the S&P 500 to gauge the market’s fear and risk tolerance, which is why it is commonly referred to as the “fear gauge” for the broader U.S. stock market.  In theory, the VIX should be low when the S&P 500 is in a steady uptrend and should only rise as does fear, causing panic selling and for either smart or weak hands to be shaken out of the market. Bitcoin, being a digital currency and store of value that isn’t the product of a government, is advertised to be unaffected by the perceived fear or
Taiwan Indicts Seven Allegedly Fraudulent Bitcoin Investment Managers

Taiwan Indicts Seven Allegedly Fraudulent Bitcoin Investment Managers

BITCOIN, COINTELEGRAPH, CRYPTOCURRENCY
Seven people who allegedly managed a fraudulent crypto investment scheme have been indicted in Taiwan, according to a report by English-language local media FocusTaiwan on Jan. 18.According to the report, citing local prosecutors, the defendants were charged with the violation of Taiwan's Banking and Multi-Level Marketing Supervision acts.The group was reportedly arrested on June 13 last year for allegedly operating a fraudulent Bitcoin (BTC) investment scheme. According to FocusTaiwan, the scheme promised investors yearly returns of up to 355 percent.Because of this promise — which reportedly has not been upheld since returns dwindled after April 24 — the allegedly responsible people have also been charged with additional violations.FocusTaiwan reports that the group attracted about $51 m
Grayscale’s Stellar Lumens (XLM) Investment Trust to Lure Burned Crypto Investors

Grayscale’s Stellar Lumens (XLM) Investment Trust to Lure Burned Crypto Investors

BTC MANAGER
On January 17, 2019, Digital Currency Group’s investment subsidiary, Grayscale Investments, announced the launch of the Grayscale Stellar Lumens Trust, the first investment fund exclusively dedicated to the cryptocurrency Lumens (XLM). Stellar Gets an Investment Trust The Grayscale Stellar Lumens Trust is the ninth single-asset investment fund dedicated to cryptoassets that the management company has launched since introducing the Bitcoin Investment Trust back in 2013. The Stellar Network was launched in 2014 by Ripple co-founder Jed McCaleb and former lawyer Joyce Kim as an open-source, decentralized blockchain network for digital currency to fiat currency transfers to enable low-cost, high-speed cross-border money transfers. Since its launch, Stellar has grown into one of the most esta

Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust

COINTELEGRAPH, CRYPTOCURRENCY
Digital currency investment group Grayscale confirmed it had successfully launched its latest fund, dedicated to Stellar’s Lumens (XLM) token, in a tweet Jan. 17.Grayscale, which now operates nine cryptocurrency funds, timed the move to coincide with a change of image for its products, renaming all its single-currency products to trusts.The company serves “single-asset investment products that provide exposure to” Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Ripple (XRP) and Zcash (ZEC), along with Stellar.Speaking to Fortune, managing director Michael Sonnenshein said the latest addition had arisen from investor demand to gain exposure to XLM’s price movements.“I think the theory is a sound one,” he said about Stellar’s business
Major Blockchain Investors Arrington XRP, NEO Global Back DEX-Focused Startup

Major Blockchain Investors Arrington XRP, NEO Global Back DEX-Focused Startup

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY
Decentralized exchange (DEX) aggregator Totle has closed a fresh funding round led by major blockchain investors, according to a blog post from the firm Jan. 14.Arrington XRP, a crypto-focused hedge fund created by TechCrunch founder Michael Arrington, alongside top blockchain investment funds NEO Global Capital (NGC) and Goren Holm Ventures, have reportedly jointly led the $1 million round.Headquartered in Detroit, Michigan, Totle focuses on building infrastructure to support the decentralized application (DApp) and DEX ecosystem — notably through the recent launch of its API. As the post outlines:“[The API aims to] relieve the need to integrate with and understand the protocols of multiple decentralized exchanges. Totle supports many use cases including in-app exchange in wallets; paymen
Iceland: Draper Associates Leads $5 Million Funding Round for Blockchain-Based ID Platform

Iceland: Draper Associates Leads $5 Million Funding Round for Blockchain-Based ID Platform

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY
Iceland’s blockchain-based identity verification platform Authenteq has raised $5 million in a funding round led by Draper Associates and Capital300, the American tech website VentureBeat reports on Jan. 14.Following the two-week funding round, the company revealed its intention to conduct the second closing of the Series A financing for additional investors in the coming weeks.The latest $5 million closing was held on Jan. 10, while the total amount raised constitutes $7 million over seven rounds since 2015, according to business data provider Crunchbase.Authenteq funding rounds and key investors. Source: CrunchbaseWithin the latest funding round, Authenteq has touted its new identity verification tool powered by artificial intelligence (AI) and blockchain technology. The service reported
Arrington XRP Leads $1 Million Funding Round in Dapp Economy Startup

Arrington XRP Leads $1 Million Funding Round in Dapp Economy Startup

Coin Desk
Dapp economy startup Totle has raised $1 million in a private funding round. Arrington XRP, the hedge fund launched by TechCrunch founder Michael Arrington, led the round along with NEO Global Capital and Goren Helm Ventures. Detroit-based Totle offers an application programming interface (API) allowing crypto wallets such as EtherDelta and RadarRelay to offer certain exchange functions, including payments and transactions, arbitrage exploitation and rebalancing, said CEO David Bleznak. In particular, the startup focuses on supporting other decentralized platforms. The new funding will be largely be used to hire more developers, with about 40 percent also going into administration and marketing, Bleznak told CoinDesk. “By adding just two or three more developers we can integrate a lot more

Swiss Multi-Billion Dollar Bank Vontobel Launches Regulated Crypto Custody

BITCOIN, COINTELEGRAPH, CRYPTOCURRENCY
Switzerland’s major private investment bank Vontobel has launched a crypto custody solution targeting banks and asset managers, according to an official press release published on Jan. 14.Zurich-based Vontobel bank is reportedly the third largest financial custody provider in Switzerland, with 110.3 billion CHF ($112.2 billion) in assets under its actively developing Asset Management tool, according to the company’s financial report in 2017.With the launch of the new digital assets custodian solution named Digital Asset Vault, the private bank claims to be the first bank in the world to comply with standards required by both industry regulators and financial intermediaries.The new tool allows banks and asset managers to offer their clients a number of crypto-related services including digi