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NYDIG raises $200 million from strategic partners to work toward Bitcoin-focused initiatives

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New York Digital Investment Group (NYDIG) today raised $200 million in a growth capital round led by the firms’ investors and partners such as Stone Ridge, Morgan Stanley, New York Life, Mass Mutual, and others. 

Robert Gutmann, co-founder, and CEO of NYDIG revealed that the Investment Group intends to work with these firms on Bitcoin-related strategic initiatives, including “investment management, insurance, banking, clean energy, and philanthropy.” Gutmann believed that partnerships with these firms “leave no doubt” about the growing institutional adoption of Bitcoin. He further said in a statement: 

In the months and quarters ahead, look out for an explosion of innovation in Bitcoin products and services delivered by NYDIG, in partnership with our new investors.

NYDIG recently filed for approval from United States Securities and Exchange Commission (SEC) to create a Bitcoin exchange-traded fund (ETF).

If approved, the Bitcoin ETF could trade on New York Stock Exchange Arca. Morgan Stanley will serve as the proposed fund’s initial authorized participant.  

In addition to raising funds, NYDIG also announced today that life, annuity, and property & casualty insurers now own over $1 billion of Bitcoin investments.  

Addressing the funding round, Ross Stevens, founder and Executive Chairman of NYDIG added:

I am thrilled by what this group of incredible investors will mean for NYDIG, but especially for Bitcoin.

In December 2020 the Group’s filing with SEC revealed that NYDIG raised $100 million from an investor for its Digital Assets Fund II.

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Source: https://eng.ambcrypto.com/nydig-raises-200-million-from-strategic-partners-to-work-toward-bitcoin-focused-initiatives

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Riot Blockchain Bitcoin production jumps 80% over pre-halving levels

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In an announcement on Monday, Riot Blockchain reported that it produced 187 Bitcoin (BTC) — roughly $11.2 million — last month, an 80% increase over its BTC mining in March 2020. The company said it held more than 1,565 Bitcoin on its balance sheet as of March 31, representing more than $94 million in crypto.

The mining report follows Riot’s $138 million purchase of 42,000 S19j Antminers from crypto mining giant Bitmain. Roughly 6% of the rigs — 2,400 Antminers — are reportedly already on route to Coinmint’s facility in New York, where Riot runs a portion of its mining operations. By the end of April, Riot claimed it will have 16,146 Antminers in operation capable of producing 1.6 exahashes per second.

As more of the Antminers are put into operation, Riot expects its hashing power to rise significantly. By the end of the year, the mining firm expects to achieve a hash rate capacity of 3.8 EH/s, while the total fleet capacity of 81,146 Antminers — expected to be fully operational before the fourth quarter of 2022 — may produce a hash rate of 7.7 EH/s. According to blockchain data, this would represent more than 4% of the hash rate of the entire Bitcoin network, roughly 171 million terahashes per second at the time of publication.

Riot is also reportedly planning to purchase a major mining facility in the state of Texas. The mining firm said last week that it would buy the Northern Data-owned Whinstone company for $650 million. The deal would seemingly allow Riot to run its rigs in Texas with a total capacity of 750 megawatts, with an additional 300 MW expansion planned.

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Source: https://cointelegraph.com/news/riot-blockchain-bitcoin-production-jumps-80-over-pre-halving-levels

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Boson Protocol raises $25.8M via public token sale

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Boson Protocol, a project that aims to connect physical commerce and smart contracts, has concluded a $25.8 million public token sale ahead of listings on several exchanges, including Bitfinex, Kucoin and Gate.io.

With the token sale, Boson has successfully raised $36 million in support of its decentralized commerce platform. The company raised $10 million in March ahead of its public sale, with participation from Outlier Ventures, FBG, TRG Capital, Walsh Wealth Group and several others.

As Cointelegraph previously reported, Boson is aiming to create a decentralized commerce platform with minimal arbitration, or a “DEX for physical assets,” according to Justin Banon, the project’s founder. The Ethereum-based solution utilizes nonfungible token, or NFT, vouchers that serve as a two-way escrow between buyer and seller.

Boson was created to replace the existing e-commerce system, which “separates people and companies from the value they create,” Banon said on Monday. He continued:

“We are creating the building blocks that will underpin a swarm of specialised applications to disrupt de-monopolise and democratise commerce.”

Decentralized commerce has been touted as one of the most promising use cases of blockchain technology. The unprecedented growth in online shopping and the continued shift away from brick-and-mortar retail could benefit this growing vertical as more users look beyond centralized marketplaces like Amazon and eBay. Blockchain technology could transform traditional e-commerce marketplaces in several ways, including revamping payments, lowering costs, providing faster transactions and improving supply-chain management. 

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Source: https://cointelegraph.com/news/boson-protocol-raises-25-8m-via-public-token-sale

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5 largest regulated US digital asset managers hold over $46B of crypto

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Cointelegraph Consulting’s 2021 ranking of the top five United States-based regulated crypto asset management firms highlights that Bitcoin’s explosive growth in price has catapulted many digital asset managers past the half-billion-dollar mark. 

As more and more investors are turning to the digital asset market, these companies are on track to becoming important players in the U.S. financial industry.

Grayscale Investments

Grayscale is one of the largest and well-known firms in the crypto world, which was founded in 2013 by its parent organization — Digital Currency Group. Grayscale now has a total of more than $40 billion in assets under management, which consist of investments in Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Zcash (ZEC), Stellar (XLM), Horizen (ZEN) and more. The fund offers various products to its clients, both single-asset products and diversified baskets.

Pantera Capital Management

Pantera Capital was founded in 2003 by Dan Morehead and is headquartered in California. Pantera is focused on a wide range of assets connected with the digital economy — private equity, tokens and more. Pantera’s $4 billion in AUM is distributed among four main funds: liquid token fund, early-stage token fund, Bitcoin fund and venture fund.

Bitwise Asset Management

Bitwise was founded in 2017 by a team of software experts combined with experienced asset managers and is located in San Francisco. This company has more than $1 billion in AUM, which is concentrated in several funds: 10 crypto index fund, decentralized finance crypto index fund, Bitcoin fund, and Ethereum fund, among others.

Galaxy Digital

This firm has several offices across the world including London, Hong Kong and Amsterdam with its headquarters in New York. Galaxy Digital focuses mainly on BTC and ETH, although it also has a diverse crypto index fund. In total, Galaxy Digital’s AUM is more than $800 million. The CEO of Galaxy Digital, Mike Novogratz, is a regular commentator on traditional TV news networks such as Bloomberg. He recently claimed he believes that nonfungible tokens will stay “for the rest of our lives.” They are also known to be involved in mining proof-of-work-based digital assets and launching a regulated investment vehicle for retail investors.

Wave Financial

Located in California, Wave Financial offers several investment solutions such as funds: Select 5 Index fund, a BTC Income & Growth Digital Fund, Tokenized Real Asset fund (tokenized Kentucky Whiskey Barrels), Active Hybrid VC fund. Additionally, the fund offers wealth management solutions for crypto treasury and wealth management, alongside protocol treasury and inventory management. According to data shared by Wave Financial, the fund has $500 million in assets under management.

The ranking

The Cointelegraph Consulting’s 2021 ranking of the largest U.S.-based and regulated digital asset managers only includes asset managers that are dedicated to cryptocurrency and blockchain. Traditional asset managers that have a small allocation to digital assets were not included.

This list also does not include crypto-focused asset managers that are only invested in venture capital and private equity. Cointelegraph Consulting prepared the list, but it’s for investors to decide which of the funds are most in line with their interests.

This article was prepared by Cointelegraph Consulting, and the results of the ranking are based on publicly announced AUMs and data acquired by emailing several digital asset managers. Cointelegraph Consulting is not an investment company, investment advisor or broker/dealer.

This publication is for information purposes only and represents neither investment advice nor an investment analysis or an invitation to buy or sell financial instruments. Specifically, the document does not serve as a substitute for individual investment or other advice.

Disclaimer: Wave Financial is a featured fund from one of Cointelegraph Consulting’s sponsors, and its inclusion did not affect this ranking.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/5-largest-regulated-us-digital-asset-managers-hold-over-46b-of-crypto

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