Cryptocurrency News

Asian Crypto Funds Growing Rapidly Despite a Lack of Social Media Presence

A researcher named Jason Choi at Spartan Capital has explained that Asian crypto funds performed 20 times better than US-based crypto funds in the first quarter of 2019.

The main reasons for the rise were strong fundamentals such as the governance, token design and crypto thesis.

Lack of Social Media Not An Issue

Digging into Asian Crypto funds such as Block Crafters based in Singapore, it is noticed that social media is not what they specialize in. Block Crafters at the time of writing only has 90 followers on Twitter. However, it did not stop it from being a significant contributor to Aergo. Aergo successfully raised $30 million, with major funding from known companies such as Samsung and POSCO.

Another Asian Crypto fund – Dragonfly Capital Partners clearly does not have a Twitter handle, but still secured $100 million worth of assets under management at launch. A whopping $20 million has been diversified into interesting projects such as stable Cryptocurrency Basis which has strong support from Oasis. Oasis is an associate partner of the better known Binance.

American Crypto Funds

American Crypto funds are seen to be highly visible in social media presence. For example, Polychain Capital based in San Francisco has 10.2k followers on Twitter at the time of writing with $1.04 billion in assets under management. While Pantera Capital has a whopping 44.2k followers and has $810 million worth of assets under management.

Crypto Funds a New Trend in Asia

Hong Kong-based, Jolyon Ellwood Russel who is a Hong Kong-based finance partner at the law firm Simmons & Simmons has reported that local money managers are continuously inquiring about setting up Crypto funds.

According to the figures, American Crypto funds are performing equally well, but what strikes an apparent question is if social media was higher for the Asian Crypto funds, what the size of assets under management would have been?

Tagomi Holdings Inc. Kites $12 M in a Funding Led by Paradigm

According to a blog post by Business Wire, Tagomi, the first live brokerage that offers prime services on an agency basis for digital assets investors, yesterday announced a new round of capital investment. The startup company managed to raise a total of $12 million in the fund.

The funding round was led by Paradigm with participation from Pantera Capital, Four Arrows, Multicoin Capital and other well established and well known partners including Founders Fund, Collaborative Fund, Digital Currency Group, Joe Lonsdale and several others.

This new funding comes two months after Tagomi made an announcement about their public product launch bringing the funding to a total of $28 million.

Tagomi Aims to Improve its Trade Execution and Transparency

Tagomi intends to use the money raised from this financing to establish ongoing operations so as to be able to support and scale with client demand. Tagomi’s Co-Chief Executive Officer Greg Tusar stated that the platform is:

“Honoured that clients have voted with their feet, and we share in their excitement of the progress Tagomi has made in improving trade execution, transparency, and lowering operational costs in the digital asset space.”

“We are excited to partner with investors who have experienced first-hand, the frustrations around the lack of infrastructure, and work toward our shared vision of building next generation robust trading technology, so that clients can focus solely on developing their strategies.’’

The Major Participants

Paradigm Capital

Paradigm Capital is an independent, research-driven investment dealer with an investment banking team that provides innovative and attentive services to their clients. The Toronto based firm provides mergers and acquisitions, valuation, diversities and private placement advisory services.

The founding Partner at Paradigm expressed his excitement over the collaboration between Paradigm and Tagomi saying; “We are excited to partner with Tagomi as they continue to build momentum and traction. We view their best-in-class product and team as the next step in the evolution of how digital assets trade.”

Pantera Capitals

This is a digital assets investment firm that also focuses on projects related to the blockchain technology. The firm is famously known as the first U.S. Bitcoin Investment Firm and is currently the leading blockchain investment firm and among the largest institutional owners of crypto assets.

“We view the development of an electronic agency offering as a critical step in empowering funds like Pantera to have complete control and anonymity when transacting in digital assets. We believe it is a key component to carrying out our fiduciary duty in achieving best execution for our fund.”

That’s a statement from Dan Morehead CEO and Co-CIO at Pantera Capital. Pantera Capitals has very strong relationships with major entrepreneurs and investors in the crypto space.

Crypto Is Coming!

The Raven’s Dispatch – August 16, 2018 – Why Peter Schiff is Wrong About Bitcoin

Why the beef, Peter?

Peter Schiff is pretty OG. He’s involved in everything from stocks, commentator, CEO, and radio personality. The dude even ran for US Senate. He’s ambitious. He’s also an outspoken critic of Bitcoin. With such a large pulpit, what he says carries weight.

An apearnace on Joe Roggans podcast showed fundamental misunderstandings of Bitcoin and cryptocurrency. From claiming Bitcoin is a tlip bubble, that Bitcoin has no inherrent value, lack of adoption by retailers, and the list goes on. And we are here to set the record straight. Read the full rebuttal on Why Peter Schiff is Wrong About Bitcoin here.

There been lots of chatter about how much marketcap we’re losing during this recent sell off, but let’s not forget the crypto marketcap year over year we are still up 58% ($135m Aug 2017, $214m Aug 2018).  So yes we are struggling with price now, but the market continues to grow and bring in new investors. The overall cryptocurrency market played nice the past week moving from $224bln to $209bln representing a 6% decline, but it was ETH that stole the show with an incredible sell off.

Livecoinwatch.comBitcoin (BTC): The past three weeks have been brutal. There’s no other way to spin it. Week to week price action was very volatile topping off at $6,600 and reaching lows of $5,985. Bitcoins has settled at $6,340 representing a slight gain of 2% the past week.

Ethereum (ETH): What.A.Beating. I don’t think anyone expected to see this sell off. Let’s take a look at the month to give us some perspective. In July ETH reached highs of $500 while also experiencing an $11m spike in volume. Check back today and we are sitting at $290 representing a crushing 42% decline in the past 30 days. Are ICOs to blame?

Monero (XMR): Monero is the top dawg amongst the privacy coins. Monero is a private, anonymous, fungible coin with a number of appealing advantages over pseudonymous coins like Bitcoin. It’s not possible to trace a person’s spending of Monero with their public key. In fact, Monero uses a completely different system with multiple keys and signatures to ensure this.

Monero has many other features such as stealth addresses, ring signatures (to protect senders), is ASIC resistant, and dynamically scalable. Of the privacy coins, and cryptocurrency in general, Monero is one to keep a close eye on.

If you want to know more check out our guide What is Monero.

WHAT’S NEW AT CRYPTO IS COMING

Why Peter Schiff is Wrong About Bitcoin – Euro Pacific Capital CEO Peter Schiff is a businessman, former US Sentate canditate, an outspoken critic of Bitcoin – and he’s completely wrong.

How Market Volatility, Illiquidity Can Be Quite Profitable for Bitcoin Traders – We examine some identifiable factors for the profitability of Bitcoin trading. Join us and learn.

Bank of China To Increase Investment in Blockchain Technology – At a press conference on August 9, the Bank of China announced it would increase its investment in innovation, research, and development. Holding 11 blockchain patents, the bank ranks first in the domestic banking industry.

Estimating Bitcoin Annual Carbon Footprint – With fresh new research available we take another look at whether the massive cost of the Bitcoin network to the environment justified the project itself.

Northern Bitcoin Enters New Phase of Growth – As a pioneer in the world of cryptocurrency, Northern Bitcoin, based out of Frankfurt, Germany, specializes in the eco-friendly Bitcoin mining.

Financial Conduct Authority Issues warning on “clone” companies in the UK – The United Kingdom financial regulator FCA has issued a warning to investors about clone firms of that operate under the guise they are registered by the FCA.

Indian Government may Launch Crypto Tokens for Financial Transactions in the Country – The government in Indian may launch crypto tokens for financial transactions in the country. This is happening at a time when cryptocurrencies had been ban in the country sometime back.

Ukraine Plans on Recognizing Cryptocurrencies as Financial Instruments – A government official stated crypto assets are not currencies, but more similar to stocks or bonds. This decision comes after an initial announcement regarding regulation of crypto trading.

CRYPTOCURRENCY NEWS FROM AROUND THE INTERNET

– CoinShares, a digital asset management firm domiciled in the Channel Island of Jersey, has announced a bitcoin exchange-traded note (ETN) product that Americans can now get their hands on more easily

The SEC Will Decide on 9 Bitcoin ETFs in the Next 2 Months – The U.S. Securities and Exchange Commission (SEC) is set to make final decisions on nine proposed bitcoin exchange-traded funds (ETFs) in the next two months.

South Korea Budgets $4.4 Billion For Blockchain And Other Technologies – The government of South Korea has announced the budget for 2019, of which $4.4 billion (5 trillion South Korean won) will be spent to develop innovative technologies.

China’s Communist Party published a guide to blockchain – The publisher of the Communist Party-affiliated newspaper, People’s Daily, has published a blockchain guide called Blockchain—a Guide for Officials

Bitmain Holds Nearly 6% of Bitcoin Cash Supply, Accused of Price Manipulation for IPO – Surfaced documents suggest that Bitmain has accumulated nearly $1 billion worth of Bitcoin Cash, raising eyebrows over the cryptocurrency’s role in a prospective $18 billion initial public offering (IPO).

Crypto firm Pantera Capital is looking to raise up to $175 million for a new venture fund – Pantera Capital, a San Francisco firm that has made its mark in recent years by investing early and often in a wide variety of digital assets, is looking to raise up to $175 million for its third venture fund

Dead Coin Walking: BitConnect Set to Be Delisted from Last Crypto Exchange – Seriosuly, what took so long?

Volumes Surge on Turkey’s Crypto Exchanges as Lira Tanks – Trading volume on Turkey’s cryptocurrency exchanges surged Friday as the country’s fiat currency plunged to record lows on economic jitters. And they say crypto has no inherent value.

Binance CEO teases demo of its new decentralized exchange desk – Binance has been working on a new decentralized version of its platform , and it appears CEO Changpeng Zhao is finally ready to share a glimpse into the upcoming project.

Could Cryptocurrencies Eradicate Corruption In The Beautiful Game? – Gibraltar United who play in the Gibraltar Football League’s Premier Division has announced that they will give their players the opportunity to be paid in cryptocurrency over the upcoming season.

ICOs Being Blamed For Ethereum (ETH) Sinking Price – The massive number of ICOs being built on the Ethereum blockchain was the primary catalyst for Ether’s price gain, now the very same usability is leading to price decline that is outpacing Bitcoin

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Best Investments From Cryptocurrency Hedge funds (Visual)

Check out the best investments from the most well known cryptocurrency hedge fund. Most common name is Zilliqa (ZIL) with most funds having a piece of the ICO and getting a 20x plus investment. Some of the others found are OmiseGo, Golem, Ontology, 0x and ICON. Noticed that only Bitmain invested on TRON and was also expecting more of these funds having a piece of the Tezos ICO.

Definitely a trend seeing a higher percentage of cryptocurrency protocols near the top compared to utility tokens. I think this is a trend that will continue throughout 2018 and beyond as the majority utility tokens phase or can’t overcome the velocity problem. Also not seeing a ton of overlap in the bottom tier of this list with hedge funds taking shots on a broad list of ICOs. Hyper Chain Capital leading the way with four 20x plus ROI projects, having invested in GNT, OMG, ZIL.

great visual from the crew at ICO Analytics.

Will be interesting to see this list by year’s end. A lot of interesting ICOs going on right now that are either just about to launch or have recently launched on exchanges. Will the 100x returns still be there as the ICO markets get flooded with new tokens and security tokens begin to garner more attention….who knows.

This bear market has been tough but just remember, the night is darkest just before the dawn…or some shit like that. Also, check out this post on the phycology of bull and bear markets or  TOTAL DOMINATION: The story of Binance.

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