By All Means: to Make Money Out of Sand or to Use Some 'Magic' (Investment Digest, Oct 31—Nov 07)

GBV launches a $100M blockchain fund, Siemens invests $681M, Dapper Labs acquires $15M, Bitfury secures $80M, investors are defrauded of 6,9M HKD, FLiK is used to steal $5M, $300M to build crypto city, Grayscale releases its Q3 investment report, Morgan Stanley publishes its BTC report, crypto investor owes government $400K in taxes, Bitcoin Exchange Guide shows BTC traders mistakes, where institutional investors can invest in crypto

  • $100 million blockchain venture fund was launched by Global Blockchain Ventures, LLC (GBV) with a seven-figure investment from Stonegate Digital Capital Group. GBV concentrates on blockchain, IoT, MedTech, and AI. Al Weiss chairs the firm.
  • Siemens funds a center for the study and development of blockchain, AI, and other sophisticated technologies. The German manufacturing company invested a total of $681 million.
  • Dapper Labs, maker of CryptoKitties, acquires $15 million worth of investments. Companies who invested include Andreessen  Horowitz, Google Ventures, SamsungNEXT, aXiomatic, and William Morris Endeavor. The funds will be used to develop Dapper Labs platform.
  • Bitfury may have signified a delay for an IPO after announcing it obtained nearly $80 million in a private placement funding round. The round saw participants from European, Asian, and US institutional investors. Korelya Capital led the private placement round.
  • A Hong Kong investment guru is indicted for defrauding investors of 6.9 million HKD. Raymond Yuen, called The Young Wizard of Investment, was able to gain the trust of investors through using his standing as a financial expert. Investors related to Hong Kong’s Democratic Party on how they were lured into the Ponzi scheme.
  • American Rapper T.I. and Ryan Felton are sued by investors saying the two men carried out a Ponzi scheme using their coin FLiK. The 25 plaintiffs are claiming $5 million in damages.
  • Jeffrey Berns, Blockchains LLC CEO, purchased at least 67,000 acres of Nevada desert to build a crypto city, Sandbox City. He said he put in $300 million to bring the plan to life. The CEO prospered after investing in Ethereum on 2015.
  • Grayscale released its Q3 investment report on 1 November. For its third quarter, Grayscale, a digital asset manager company, saw inflows amount to $330 million, increasing its crypto-related assets to $1.5 billion. The company raised a total of $81 million. This is the highest Q3 that the company has experienced.
  • Morgan Stanley published their Bitcoin report: Update: Bitcoin, Cryptocurrencies and Blockchain. The report called Bitcoin and altcoins a ‘new institutional investment class’.

General ideas


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