Influx of New Cryptocurrency Hedge Funds

According to Crypto Fund Research, the number of cryptocurrency hedge fund launches has increased dramatically in 2018 showing that 1 of 5 new hedge funds is a crypto fund

Crypto funds now constitute 20% of the total hedge fund launches in 2018. The industry witnessed 90 cryptocurrency fund launches by the end of the Q3 of this year, and the number could go as high as 120 by the end of Q4. Overall, there are 600 hedge funds projected to go live this year.

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Former Overstock CEO sells shares worth $90 million to create a cryptocurrency hedge fund

According to a regulatory filing on Wednesday, Patrick Byrne, former CEO of Overstock, has sold all of his 13 percent stake in the Internet retailer, 20 years after founding the company. In a letter written to his former colleagues at Overstock, Byrne stated that by 20 September, all of the proceeds would be going into […] The post Former Overstock CEO sells shares worth $90 million to create a cryptocurrency hedge fund appeared first on AMBCrypto.
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