Study Reveals The Majority of Crypto Hedge Funds Suffered LosesThe overly-optimistic forecasts predicting a bitcoin-led era of cryptocurrencies by the end of 2020 are increasingly seeming like a distant fragile dream. More so now than ever as the most popular digital asset in the world has dipped below $5000. This downward spiral of bitcoin, according to many analysts, is due to its “lack of a fundamental value.” Bitcoin is now…
Crypto-Funds Face Existential Crisis as Bitcoin Prices TumbleThe springing up of “crypto” hedge funds in proportion to the rising market cap in 2017 led many to truly believe in the “institutionalization” of the asset class. A year later, few have survived, and those who are active have been facing an inevitable existential crisis, opinionated Anthony Pompliano via a blog post on November 21, 2018. Unstructured Funds Face…
Bitcoin [BTC] to $3000 – $3500 still on the table, we will see “true blood in the streets”, says hedge fund managerAnthony Pompliano, a perma-bull for Bitcoin [BTC] and the founder of Morgan Creek Capital Management, recently spoke in an interview with the host of CNBC Crypto Trader, Ran NeuNer, on the state of the cryptocurrency market. He elaborated on his opinion on why the market crashed recently. Pompliano stated that the reason for the market […]
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Chinese Miners Short BTC Markets to Hedge Against Falling PricesThe price of bitcoin core (BTC) has dropped considerably over the past few months, significantly affecting individuals and organizations that mine the cryptocurrency. According to recent reports, many miners in China are now short selling bitcoins to hedge against falling digital asset prices. Also Read: Markets Update: Cryptocurrencies Are Still Blood Red Some Chinese Miners Are […]
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Daily Byte: 10.22.2018
With Rebound On The Horizon, Crypto Hedge Funds Charge On Despite the crypto market losing a substantial amount of its value, crypto hedge funds refuse to give up. There are more coming up and the more established ones continue planned expansion. Blocktower Continues Rapid Expansion This seems to be true in the case of Blocktower Capital, a crypto hedge fund launched last year by Matthew Goetz, a former Goldman Sachs investment manager. The firm has opened a second office in New York and added its staff members according to a person who works in the firm. The crypto hedge fund which is headquartered in Stamford, Connecticut has now a total of 13 employees. This is an addition of five new staff members given that the number of employees at the start of the year was eight.
Bitcoin Hedge Fund and CEO Slapped With $2.5 Million Penalty for Ponzi Scheme  News A New York federal court has ordered cryptocurrency hedge fund Gelfman Blueprint, Inc. (GBI) and its CEO Nicholas Gelfman to pay over $2.5 million for operating a fraudulent Ponzi scheme, according to an official announcement published Oct. 18. GBI is a New York-based corporation and denominated Bitcoin (BTC) hedge fund incorporated in 2014. As stated on the company’s website, by 2015 it had 85 customers and 2,367 BTC under management. The order is the continuation of the initial anti-fraud enforcement action filed by the U.S. Commodity Futures Trading Commission (CFTC) against GBI in September 2017. The CFTC charged GBI for allegedly running a Ponzi scheme from 2014 to 2016, telling investors that it had developed a computer algorithm called “Jigsaw” which allowed for substantial returns through a commodity fund. In reality, the entire scheme was a fraud.