by Florin Oprea
Evelyn Cheng – CNBC
Erik Schatzker – Bloomberg
Mike Novogratz is reinventing himself as the king of bitcoin.
The swaggering macro manager who flamed out at Fortress Investment Group LLC is starting a $500 million hedge fund to invest in cryptocurrencies, ICOs and related companies. Novogratz will put up $150 million of his own money and plans to raise $350 million more by January, mainly from family offices, wealthy individuals and fellow hedge fund managers.
At that size, the Galaxy Digital Assets Fund would be the biggest of its kind and signal a growing acceptance of cryptocurrencies such as bitcoin and ether as legitimate investments.
FAO: I wonder what Jamie Dimon would have to say about this?!? I am sure somebody will ask him pretty soon, as this story will hit Wall Street inboxes and chat windows all this week and the next…
Earlier this year fintech analytics firm Autonomous NEXT released a list (HERE) of 55 cryptocurrency hedge funds – well, the list is now comprised of 70 funds…you should really check it now (HERE) – it has been updated.
Alex Konrad – Forbes
After decades of supporting tech startups, growth stage investor IVP will be looking to help supply a new gold rush with its sixteenth fund: cryptocurrency.
FAO: Oh here is another topic TBD when meeting Mr. Jamie…
Jen Wieczner – Fortune
Ethereum creator Vitalik Buterin, who is so influential even rumors of his mortality can swing that cryptocurrency’s price, has come up with a way to revolutionize his industry’s hottest trend: the phenomena known as ICOs.
FAO: The proposed measures could indeed be of help. Let’s see what the “markets” really want/need.
William Suberg – The Cointelegraph
Cryptocurrency exchange Bitstamp has credited users with Bitcoin Cash, while announcing it will postpone trading “until further notice.”
Hyperledger, an open source collaborative effort created to advance cross-industry blockchain technologies, announced that 10 new organizations have joined the project.
FAO: Hyperledger is getting bigger and bigger. Oracle joined the project earlier this month.
Shannon Liao – The Verge
Showtime websites were found to be running a script that allows the sites to mine visitors’ extra CPU power for cryptocurrency, as pointed out by users on Twitter. The afflicted sites included showtime.com and showtimeanytime.com, but the script has since been removed following reports from Gizmodo and other sites.
Michael J Casey – CoinDesk
The crypto community is once again reeling from a Chinese crackdown and trying to read the tea leaves on Beijing’s next move. China’s policymaking is far from transparent, so one can only speculate how long the new restrictions on bitcoin exchanges and token sales might last.
DNT: It’s selfish love…
FAO: What about a coordinated next move from China and others? Investors are already very cautious since a first cohort of Chinese exchanges, including BTCChina, previously announced they will stop all trading by September 30, while the last cohort will cease trading at the end of October.
Jon Buck – The Cointelegraph
The hardline stance against cryptocurrencies and exchanges taken by the central Chinese government has had some negative impact on cryptocurrency markets in recent weeks. However, Chinese government regulation has not quelled interest in Blockchain technology solutions in the small island state of Hong Kong.
FAO: Will China’s crackdown on cryptos be actually in HK’s profit? Should we expect some more actions? Meanwhile South Korea has experienced a sudden growth in crypto trading volumes.
Patrick Kulp – Mashable
A new app turns your spare change into digital currency. Coinflash, featured on the Product Hunt website this week, will round each of your credit and debit card purchases to the nearest dollar, tally the total difference, and automatically invest that amount into a cryptocurrency of your choice through a Coinbase account.
DNT: Now, that’s indeed an interesting investment tool.
Omkar Godbole – CoinDesk
With another roadblock out of the way, the bitcoin price may be headed for a breakout.
John Detrixhe – Quartz
The finicky, archaic fax machine still somehow survives in the back offices of some big financial institutions. But this technology may finally face extinction as execs update their operations with blockchain-based systems.
FAO: Here’s another good article signed J. Detrixhe. It discusses the mutual fund trading platform that Nasdaq is launching together with Nordic bank SEB and how this project could impact the future of financial services. You can find out more details about this project in today’s Fintech Daily News bulletin.
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News