The Value of Blockchain Continues to Grow Supported by Meaningful Investments and Successful Partnerships (Investment Digest, Oct 18—24)

Boost VC to invest in 100 crypto startups, receives $30M, Medici Ventures invests in Minds Inc, Elixxir receives seed investments, Vertex Ventures invests in Binance, Checkmate Capital invests in Bcause, Global Brian supports Omise, Cobo Crypto Wallet raises $13M, $15M for BitGo, TEMCO partners Foundation X, Animoca Brands teams up startups, Silver Cost Basis partners Voyager Digital, 3 strategies for crypto investors, ideas on where to invest, blockchain and crypto investments will grow

  • Venture capital firm Boost VC has kept their word. The firm promised to invest in 100 cryptocurrency startups in three years. Now it has invested in its 100th startup. Boost VC is still searching for new startups to be part of their incubator Tribe 12.
  • An artificial intelligence for business platform,, secures $30 million from Andreessen Horowitz. The Series B funding was led by the Horowitz VC firm. The funds will be expended for’s data and commercial efforts.
  • According to a press release, Medici Ventures invests in Minds Inc, a decentralized social network. Minds introduced its own token $MINDS. Platform engagement is incentivized with the said tokens.
  • Elixxir counts Chris Larsen of Ripple and Singapore firm H&D Pte Ltd as seed investors. Elixxir blockchain can process thousands of transactions that are private and quantum-resistant. More than 1,500 registered to act as nodes on its network, with 500 developers showed interest in developing DApps on the platform.
  • Vertex Ventures invests in Binance for the exchange’s Singapore expansion. Vertex Ventures is a subsidiary of Temasek Holdings. Temasek has $223 billion worth of assets and is government-owned.
  • Checkmate Capital puts in a substantial undisclosed amount of investment in Bcause. The investment will be used to toughen up Bcause exchange operations and develop new payments-related products for the Asian market.
  • Global Brian fiscally supports Omise. This will be done through Global Brian’s Growth Fund Investment Limited Partnership and 31 Ventures Global Innovation Fund I. Omise Holdings remains focused on its vision to provide payments for everyone. The company is the founder of OmiseGO.
  • $13 million dollars was raised by Cobo Crypto Wallet. The Series A round was led by DHVC and Wu Capital. Cobo has 500,000 wallet users and supports 500 tokens and 30 crypto coins since its early 2018 launch.
  • BitGo announced it has successfully concluded its Series B funding round. BitGo acquired support from Goldman Sachs and Galaxy Digital Ventures LLC during this funding round. The round raised $58.5 million with a total of $15 million from Goldman Sachs and Galaxy Digital.


General Ideas

  • A Bitcoinist guest op-ed shares 3 strategies for cryptocurrency investors to make money in cryptocurrency for 2019: Go long on startups with real-world partnerships, let bots manage trading, and run a masternode for increased returns and extra coins.
  • Bloomberg compiled ideas from market experts on where to invest $10,000. The panel of experts includes Jim Hamel (Artisan Partners), Joe Davis (Vanguard Group), Russ Koesterich (BlackRock Global Allocation Fund), and Sarah Ketterer (Causeway Capital Management).
  • According to Julian Zegelman, by 2025 the value of blockchain will amount to $176 billion and will grow beyond $3 trillion by 2030. The American businessman shared this estimate during HackIT 4.0, a forum on cybersecurity. The forum concludes that blockchain will continue to expand and investments, even from the government, will continue to increase.

DISCLAIMER: the data is taken from websites with open data, at the moment of publicationand and shouldn't be considered as investment recommendation. neither supports nor opposes any project or strategy, users must consider all relevant risk factors including their own personal financial situation.

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Anthony Pompliano’s Morgan Creek Digital Capital makes strategic investment propagating mass crypto adoption

The cryptocurrency market was helped along in its pursuit of mass adoption, with many proponents of the space lending a helping hand. The latest news about the bigger players in the cryptoverse included the tie-up between Morgan Creek Digital Capital and Ikigai Asset Management. The official release stated, “Morgan Creek Digital announced today that it will be the lead anchor investor in Ikigai Asset Management’s flagship fund focused on executing systematic and fundamental liquid hedge fund strategies as well as opportunistic venture-stage crypto asset investments. Ikigai is a crypto asset management firm launched in December 2018 by former Point72 Portfolio Manager Travis Kling and partners Timothy Lewis, and Anthony Emtman.” Morgan Creek Digital partner, Anthony Pompliano, is a voracious supporter of Bitcoin, and has held a bullish viewpoint about the world’s largest cryptocurrency. Post the partnership with Ikigai, Pompliano talked about the company’s  positive devleopments, and claimed that they were well-positioned to capture the outstanding returns brought by cryptocurrencies in the coming future. Ikigai Chief Investment Officer Travis Kling said, “DLT and crypto assets are fundamentally changing our world. We are honored to receive this investment from Morgan Creek Digital and look forward to working closely together with Mark, Jason, and Pomp in this exciting arena.” Pompliano recently sat down with Galaxy Digital’s Mike Novogratz to discuss elements like liquidity, trust and custody that need to be given a boost. Novogratz stated that the cryptocurrency market was presently a booming place of business, especially with the entry of companies like JP Morgan, Telegram and Facebook. He further claimed that it was a big opportunity to invest, with Wall Street sentiments changing. The Galaxy Digital CEO added, “Wall street earlier thought that you shouldn’t take risks on something small like cryptocurrencies. They are getting close though, not doing anything but are getting really ready. We are anyway working hard on the security token business and I promise you this, the upcoming tokens and ICOs will be a lot bigger but less sexy.”   The post Anthony Pompliano’s Morgan Creek Digital Capital makes strategic investment propagating mass crypto adoption appeared first on AMBCrypto.

Binance Clarifies Rumors About API Featuring Crypto Margin Trading

Earlier this week, a programmer on Reddit reportedly discovered margin trading features on Binance’s API, the world’s largest crypto exchange by daily volume. Noting that major cryptocurrency exchanges like BitMEX and Bitfinex have been able to manage high volume markets by featuring margin trading, the developer wrote: “This change has not been reflected on the documentation. Further analysis of the response revealed that all 482 trading pairs have spot trading enabled and margin trading disabled; which makes sense. However, this API update implies that Binance is considering the implementation of margin trading features.” Source: Reddit, Binance API No Date, Nothing Confirmed for Crypto Margin Trading When CryptoSlate reached out to Binance, the team confirmed the validity of the public statement of Binance CEO Changpeng Zhao. On Wednesday, Zhao, better known to the cryptocurrency community as CZ, said that there are no dates to integrate margin trading in the foreseeable future. He responded: “We future proof our API framework as part of our system upgrades. No dates.” Is Margin Trading Needed? Since early 2018, despite the rapidly expanding operations of leading cryptocurrency exchanges and trading platforms, the daily volume of the cryptocurrency market has noticeably subsided. Some exchanges have taken the route of integrating a wide range of crypto assets to increase their volume to adjust to the drastic change in market conditions while some have introduced unique services to open a variety of methods for new investors to come into the cryptocurrency market. On Mar. 20th, for instance, Binance officially announced the launch of Binance Lite Australia, enabling local users to purchase bitcoin at over 1,300 physical storefronts throughout the region. Binance CFO Wei Zhou said at the time: “Binance Lite Australia further expands digital currency adoption by providing easier ways to buy bitcoin. We are excited to continue to roll out more fiat to crypto gateways around the world to support the growth of our industry. We firmly believe that more adoption will lead to more innovation and more economic opportunities.” While Binance may not need to integrate margin trading to increase their revenues or daily volume, the demand for margin trading options from the market has increased in recent years following the rapid growth of other margin trading service offering exchanges. At the Binance Blockchain Week conference in Singapore, CZ also emphasized that the exchange and the industry are “actually much healthier than a year ago” and that the company is in a good position after the debut of Binance Jersey, its newest fiat-to-crypto exchange. “So far, the Jersey market is overwhelmed with demand. That shows there’s plenty of demand there. Right now, the way I view it is that most of the money is still in fiat, it’s still much larger than the crypto market cap. So we need to get fiat coming in. On the other side of it, we are working on the decentralized exchange so the Binance DEX will come out soon,” CZ said. For now, there are no confirmed dates for margin trading options on Binance. The post Binance Clarifies Rumors About API Featuring Crypto Margin Trading appeared first on CryptoSlate.

Binance is going country-hunting in search of their ‘regulatory paradise’, says report

Binance, one of the world’s largest cryptocurrency exchanges has been hopping in and out of several countries in search of the right regulatory environment for cryptocurrency trading, stated many cryptocurrency executives, according to Decrypt Media. In the past two years, the exchange has seen its core-operations move in and out of China, Japan, Singapore, Bermuda and now, has shifted to the island nation of Malta. The report stated that this constant shuffle was for regulatory comfort and not for a better-decentralized model. Ari Paul, CIO and managing partner of Blocktower Capital, called this regulatory chase one that the exchange will continue until it reaches its goal of “diplomatic immunity” with a compliant government. The claim made by Paul could be attested by the exchange’s own words. In a March 2018 Medium Post, Binance stated: “Any country that can attract Binance to open a branch in their location will receive a handsome tax income revenue.” Prior to the China crackdown on cryptocurrency companies, Binance looked to shift its operations to Japan, but was met with the iron fist of the country’s Financial Services Agency. Binance was initially operating without a license, but the FSA issued a warning to the exchange on the grounds of failing to perform identity checks of their Japanese investors. Even when it comes to their native token Binance Coin [BNB], cryptocurrency executives are not fully convinced, especially from a regulatory standpoint. The exchange maintains that the token is separate from the workings of the exchange, but some, like Scalar Capital’s co-founder Linda Xie, view this as a more mainstream financial product. She said, “I have some concerns on the regulatory side with BNB, because you have this pseudo-equity model, where you have the cash flows of the company that are kind of tied to the valuation of the token. You have this situation where they’re taking their cash flows, they’re buying up BNB and then burning it.” Xie added that there were definitely negative regulatory implications for the exchange with respect to their token due to the seemingly direct valuation link between the two. She further added that Binance dodging regulations was a reason for its success, but will also be a flaw in the long-run. Paul added to his earlier point stating that Binance’s scurry from country to country will continue until it finds a nation that allows it “diplomatic immunity”. He added: “They’ve been cozying up to some of the government they’ve been working at. I think the way they end up evading regulatory accountability is probably something like regulatory capture at the national level—like, capturing the regulators of a place like Malta or Singapore and getting literally an ambassadorship or government post.” In October 2018, the investment fund of the Singapore government funded Binance’s expansion in the country. Vertex Ventures, a limited partner with Temasek Holdings, the wealth fund of the city-state backed the Binance Singapore project to push its expansion into Southeast Asia. Furthermore, with regulatory pressure climbing, Binance, in September 2018, moved to Malta and subsequently signed a Memorandum of Understanding [MoU] with the country’s national stock exchange. The move was due to the country’s positive attitude to blockchain and cryptocurrency. During the move Changpeng Zhao, the CEO of the exchange, stated: “So we are registered in multiple locations and we have people in multiple locations. That way we will never be affected by one regulatory body.” Kyle Samani, the managing partner at Multicoin Capital, questioned the regulatory recourse financial watchdogs could take if they do find malfeasance on Binance’s part. Samani said, “One of the biggest challenges right now, if you’re a regulator out there, is it’s unclear how enforce meaningful penalties on Binance.” The post Binance is going country-hunting in search of their ‘regulatory paradise’, says report appeared first on AMBCrypto.

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