Hilbert Group Partners with Xapo Bank to Launch $200 Million Bitcoin Hedge Fund
Hilbert Group and Xapo Bank have announced a strategic partnership to launch a Bitcoin-denominated hedge fund exceeding $200 million, set to launch in September 2024.
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Hilbert Group and Xapo Bank have announced a strategic partnership to launch a Bitcoin-denominated hedge fund exceeding $200 million, set to launch in September 2024.
High-net-worth individuals and private equity funds will drive adoption, said Colin Butler.
A hedge fund manager is ordered to return $5.6 million in illicit profits and faces a four-year disqualification for false trading activities. (Read More)
Three finalists are competing for $1 million in seed capital at the Bitcoin Alpha Competition. Crowd-sourced fund managers are taking center stage at the worlds largest Bitcoin conference.
Millennium Management, holding 27,263 BTC worth $1.69 billion, has allocated about 2.5% of its $67.7 billion in total assets under management to Bitcoin.
The proportion of traditional hedge funds investing in crypto assets declined in the past 12 months though the long-term outlook remains positive, according to a new report by Big Four accounting firm PricewaterhouseCoopers (PwC).The percentage of funds with crypto exposure fell to 29% from 37% in 2022, according to the Global Crypto Hedge Fund Report.
The post Hedge Funds’ Long-Term Crypto Interest Remains Robust Even as Proportion Investing Drops: PwC appeared first on BTC Ethereum Crypto Currency Blog.
Yield App halts operations, citing losses from FTX exposure, despite previous assurances of no significant impact.
Millennium Management is the largest Bitcoin ETF investor with a $1.9 billion investment.
Bitcoin may be dripping lower at spot rates. Still, one analyst is unfazed, expecting the coin to reverse recent losses and snap up firmly before peaking in December 2024. At spot rates, BTC is down roughly 11% from 2024 peaks and struggling to generate sufficient buying pressure, looking at the formation in the daily chart. Will History Support Bitcoin And Rally To Fresh Highs? Taking to X, the analyst highlights historical price patterns using the 2-week Fisher Transform indicator, a tool for picking out potential reversal zones like double tops or bottoms. Though the technical indicator lags, it has accurately picked out peaks in the past. Related Reading: Dogecoin Deflates: Whats Behind The 20% Price Drop Amidst Memecoin Mania? In 2021, when Bitcoin soared to over $69,000, the Fisher Transfer indicator printed a signal, highlighting potential peaks. In the coming weeks following this signal, prices crashed. By the end of 2022, Bitcoin had fallen to as low as $16,000, accelerated by the collapse of FTX and the bankruptcy of several other popular crypto hedge funds, including Three Arrow Capital (3AC). The analyst also emphasizes the importance of the indicator in differentiating between a double top, mirroring 2017 and 2021, and a potential single peak later this year. Presently, the trader said prices are approaching 2017 levels. Then, prices created what the analyst described as a “more subtle initial rise” before peaking six months later at over $20,000. If this leads, and the indicator “pauses” where it is, Bitcoin will likely record a “single top.” However, only time will tell where this top will be at. Hedge Funds Were Selling At Tops? This prediction comes amid significant bearish bets by leveraged hedge funds. Data from the United States Commodities Futures Trading Commission (CFTC) reveals that these funds held record “short” positions in Bitcoin futures contracts by last week. Observers note this was the largest short position since 2017, at over 16,000 contracts. By shorting, they expected prices to dump, which is precisely what’s happening at spot rates. Related Reading: Bitcoin Short-Term Holders Go On 1.2 Million BTC Buying Spree, Is Retail Finally Here? However, even as hedge funds short, another analyst, responding to the trend, said the futures premium remained high. This is a development that some of these crypto hedge funds are taking advantage of. The number of shorts could increase in the days ahead as United States Federal Reserve officials appeared to be hawkish and upbeat economic data started pouring in. Being a data-driven central bank, the Federal Reserve might not slash rates as fast as initially projected. Feature image from DALLE, chart from TradingView
Larry Cermak, vice president of research at The Block, has announced that he will be taking the reins at the crypto and blockchain news website from interim chief executive officer Bobby Moran — the second change in leadership since reports surfaced that former CEO Mike McCaffrey financed the platform through loans from Alameda Research. In [...]
The post Crypto news site The Block gets new CEO and reported staff layoffs following admitted ties to SBF appeared first on Crypto Breaking News.
Many of Goldman Sachs’ largest clients are ramping up their activity in the crypto space following spot bitcoin exchange-traded fund (ETF) approvals and BTC price recovery. “The recent ETF approval has triggered a resurgence of interest and activities from our clients,” said Goldman Sachs’ Asia Pacific head of digital assets. Goldman Sachs’ Clients Getting Active [...]
The post Goldman Sachs Says Many of Our Largest Clients Getting Active in Crypto appeared first on Crypto Breaking News.
Hunting Hill Global Capital, a New York-based traditional finance hedge fund with $364 million in assets under management as of a March filing, announced on Wednesday that it will starts its digital asset affiliate, Hunting Hill Digital (HHD), which is backed by an undisclosed investment from early-stage venture capital firm BaseLayer Ventures.Hunting Hill Digital’s first
The post TradFi Hedge Fund Hunting Hill Starts Crypto Arm appeared first on BTC Ethereum Crypto Currency Blog.
Crypto exchange FTX is trying to regain $1 billion in a lawsuit against founder Sam Bankman-Fried (SBF) and some former executives. FTX’s new management argues the funds were misappropriated through dubious deals and transactions made before the coin trading platform went bankrupt last fall. Failed Crypto Firm FTX Files New Lawsuit Against Founders and Chiefs [...]
The post FTX Sues SBF, Former Execs to Recover Over $1 Billion appeared first on Crypto Breaking News.
Sotheby’s, the luxury auction house, successfully generated $2.5 million through the sale of non-fungible tokens (NFTs) from the now-defunct crypto hedge fund Three Arrows Capital (3AC). Among the sold pieces was Fidenza #725, a digital collectible crafted by the artist Tyler Hobbs. This Fidenza #725 NFT commanded an auction price of over $1 million during
The post Luxury Auction House Sotheby’s Sells Portion of 3AC’s NFT Collection for $2.5 Million appeared first on BTC Ethereum Crypto Currency Blog.
Transform Ventures was founded by Michael Terpin, a crypto investor who previously sued a New York teenager for $71.4 million in damages for allegedly snatching cryptocurrency from his phone.
The liquidators said the "Starry Night Portfolio" of NFTs would not be sold. (Read More)
The hedge fund discontinued its CoinShares consumer platform because to high marketing costs. (Read More)
Kevin Zhou also wanted to market their bankruptcy claims to experts. (Read More)
The SEC is still deciding on a "qualified custodian." (Read More)
The fall of FTX appears to have brought back certain crypto "villains” out from hiding, one even wants to start a new podcast series.
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