Esports, gaming and interactive media investment platform Bitkraft VC has established a $75-million token fund for investing in blockchain gaming and digital entertainment. The fund uses a “stage-agnostic” strategy, meaning that it will put money in companies and startups at any business development stage. Apart from equity investment, the token fund will also invest in cryptocurrencies and nonfungible tokens (NFT). In order to provide regulated investment opportunities, Bitkraft received an investment advisor registration from the United States Securities and Exchange Commission in June 2021. The new token fund is led by Piers Kicks, a founding partner in the investment arm …
A senior executive at financial services firm Guggenheim Partners — which is planning to seek investment exposure to Bitcoin (BTC) — has argued that BTC is poised to drop to $20,000. Scott Minerd, Guggenheim’s chief investment officer, believes that Bitcoin will not hit another all-time high in 2021, according to a Jan. 21 episode of CNBC's Closing Bell. After hitting $42,000 price level on Jan. 8, Bitcoin is unlikely to climb any higher until 2022, Minerd said: “I think for the time being, we probably put in the top for bitcoin for the next year or so. And we're likely …
BitGo, a United States-based firm that handles about 20% of all Bitcoin (BTC) transactions, is introducing BitGo Prime, a new entity specifically for institutional trading services. On May 27, BitGo said that the new prime broker platform will incorporate multiple services targeting institutional investors. After launching an institutional-level crypto lending service in March 2020, the new full-service platform integrates institutional crypto lending, trading and custody services. BitGo focuses on institutional investors Apart from the recent launch of institutional crypto lending services, BitGo has been actively working with institutional traders. Nick Carmi, head of financial services at BitGo and the newly …
Despite ongoing bullish movement in crypto markets, Circle continues to sell off wings of its business. Circle, a Goldman Sachs-backed crypto startup that launched USD-pegged stablecoin USDC, has agreed to sell its digital asset investment app Circle Invest to Voyager Digital Canada, the operator of digital asset broker Voyager. Circle Invest customers to be moved to the Voyager Platform by the end of March 2020 As part of the acquisition, Voyager will be integrating features of Circle's new stablecoin platform service into the Voyager Platform, the company announced on Feb. 12. Voyager will also expand its client base to over …
The United States government is growing increasingly concerned about Bitcoin (BTC) in retirement savings, with two senators flagging some issues in Fidelity Investments’ plans to include Bitcoin (BTC) in 401(k) accounts. Senators Elizabeth Warren of Massachusetts and Tina Smith of Minnesota expressed concerns over Fidelity’s decision to add BTC to its 401(k) investment plan in a letter to Fidelity CEO Abigail Johnson. Dated May 4, the letter suggests that Fidelity’s latest Bitcoin plan has a potential conflict of interest, noting that Fidelity has been deeply involved in crypto since it began experimenting with BTC and Ether (ETH) mining operations and …