Experiments with the Crypto Industry Obviously Have Two Ways ... 50/50 (Investment Digest, Oct 25—31)

Warren Buffett invests $600M, Coinbase is worth $8B, StarkWare acquires $30M, USD issues over $125M in investments, NXMH obtains Bitstamp, Algorand receives $62M, Thailand alerts against investments in ICOs, Ripple confirms the institutional investments growing, Kevin O’Leary invests $100M, Nouvive provides an investment observation, OK Blockchain Capital conducts an Investment Sentiment Survey, Steve Wozniak discusses his BTC investment

  • Berkshire Hathaway, with Warren Buffett as CEO, invested a total of $600 million in two fintech firms: $300 million in Paytm and another $300 million in StoneCo. This investment might be a signal that the company with the 10th largest revenue is set to enter the cryptocurrency space.
  • Coinbase concluded its Series E funding round and secured $300 million. The exchange is now worth $8 billion. Andreessen Horowitz, Polychain Capital, Wellington Management, and Y Combinator Continuity are among those who participated in the equity funding. The round was led by Tiger Global Management.
  • StarkWare, an Israeli startup, acquired $30 million in investment. Paradigm was the lead the round. Intel Capital, Coinbase Venture, Sequoia are some of those who participated. Aside from the $30 million raised, Ethereum Foundation, Bitmain, Arthur Breitman of Tezos, and other firms have given the startup a grant totaling $6.7 million. StarkWare is the creator of zk-STARKS.
  • After the USDC’s September release, almost $127.4 million of the stablecoin is in circulation. The USD-pegged coin is backed by juggernauts in both the cryptocurrency industry and that of traditional finance. The said companies are Circle, Coinbase, and Goldman Sachs.
  • NXMH, a Belgian investment firm, obtained cryptocurrency exchange platform Bitstamp for an undisclosed amount. The investment firm acquired an 80% stake. Pantera Capital maintains its 6% stake in Bitstamp.
  • Algorand gets a total of $62 million of investments. The funds will be used to launch Algorand’s own blockchain. In addition to the investments, the tech company welcomed new CEO Steve Kokinos and COO Sean Ford.
  • According to Bangkok Post, Thailand’s Securities and Exchange Commission alerts citizens against investing in nine uncertified ICOs and tokens. The nine are Adventure hostel Bangkok ICO, Kidstocurrency ICO, Singhcom Enterprise ICO, G2S Expert ICO, Every Coin, OneCoin and OFC Coin, Orientum Coin, Tripxchain Coin, and TUC Coin.
  • Ripple published its report for the 3rd quarter. Some of the information in the report reveals the payments company has sold $163 million XRP and 3 billion of its tokens were discharged from an escrow account. 400 million of the released XRP will be used for network support. According to Ripple CEO, institutional investors are also buying XRP.
  • A Shark Tank episode featured the Bundil app. It is an app that allows users to put in small amounts of money in cryptocurrency. Kevin O’Leary invests $100,000 in the startup for 50% ownership.
  • Nouvive’s technical analysis of the market suggests that BTC is a hold, ETH is a sell, and buy digital assets within the top 200, not just the top 20.
  • OK Blockchain Capital conducted a survey called Investment Sentiment Survey. The report stated that close to 50% of respondents suffered losses in the September cryptocurrency market.
  • Steve Wozniak called own BTC investment an experiment. In his Interview on Crypto Trader, Wozniak said his aim was not to come out on top of the speculative market but to experiment with the crypto industry, without watching the price.
  • Over the counter crypto markets are bracing themselves for the entry of institutional investors.  The current market is in need of a better technological infrastructure and liquidity to accomplish big buy or sell orders. Hence, OTC markets are instrumental in accomplishing trades involving large amounts.
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