$1 Billion Crypto Hedge Fund Crashed 40% – But Still Beat Bitcoin

Crypto hedge fund traders were not immune to bitcoin’s downright frigid bear market. Just look at Polychain Capital, whose assets under management (AUM) fell to $ 591.5 million at year-end 2018, according to a regulatory filing cited in the Wall Street Journal. Investors Stay Put in Polychain Capital’s Fund The San Francisco-based crypto hedge fund boasted $ 1 billion in assets as of February 2018, which in addition to cryptocurrency included unspent cash pledged by investors and equity holdings in companies, Fortune reports. The value of Polychain’s AUM, however, tumbled nearly 40% between April and December 2018 when the bear market gripped

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2019 Dow Doom Will Slam Stocks, not ‘Awesome’ Bitcoin: Hedge Fund Manager

It’s a perfect storm for the U.S. economy, one that won’t end well for the Dow Jones Industrial Average. Mark Yusko, Morgan Creek Capital Management CEO and CIO, painted a grim picture for the foreseeable future, advising investors to run as fast as they could away from U.S. equities. In a webinar entitled “You Ain’t Seen Nothing Yet, Why the Equity Bear Market Is Just the Beginning,” the investment advisor rattled off a laundry list of headwinds threatening the economy and corporate America. In addition to running a global equity long/short portfolio, Morgan Creek, which reportedly boasts more than $ 1

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Kim Jong-un is Masterminding Crypto Thefts to Fund Nukes: Report

North Korean leader Kim Jong-un is thought to be backing an elaborate scheme entailing the hacking of crypto exchanges. The group alleged to be doing the hacking is called APT 38. It’s considered to be a highly-skilled state-sponsored group of bank hackers that managed to steal $ 1 billion from banks to fund its nuclear weapons program, according to Wired. CCN alerted readers last year about North Koreans using cryptos to avoid U.S. sanctions. Then, we noted that cryptocurrencies were being preferred by international criminals and for terrorist financing. Now that the country has reportedly set its sights on crypto exchanges,

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Norwegian Fund Hosts $7 Billion Mega-Sale of Energy Companies

The Norwegian Sovereign Fund has announced a $ 7 billion sale of shares for 134 exploratory fossil fuel and energy companies. Norway owns the largest sovereign fund in the world, the Government Pension Fund Global (GPFG), which is valued at over $ 1 trillion. In 2017, Norges Bank suggested that the fund step away from oil and gas stocks to protect against consistent downward trends in oil prices. The problem is that 6.4 percent of the fund is invested in these stocks. Over the last two years, the fund has honed a plan to divest upstream oil and gas shares. It will

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Short the Dow for 2019’s Coming Recession, Says Top Hedge Fund

The Dow Jones is set for an epic collapse, plunging the US into a recession as early as this year, according to Crescat Capital. The hedge fund, which consistently outperforms the market, is loading up on short positions on global stocks and shifting assets into gold in anticipation of a stock market meltdown. It comes less than a day after Nobel Prize winner Robert Shiller said a recession is likely in the next 18 months. The bears are circling, and the stock market is on thin ice. As CCN recently reported, US stocks are highly over-priced and due for a

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Ripple Bets Big on Blockchain Gaming with $100 Million Fund via Xpring

According to a press release this morning, Ripple’s Xpring developer initiative and Forte, a blockchain gaming company, have teamed up to create a $ 100 million fund for game development. Forte provides tools for blockchain integration to game developers. Xpring works to advance the XRP ecosystem through developer funding and development of tools. $ 100 Million Fund For Blockchain Gaming Forte will manage the fund and targets game economies that have more than 50,000 daily active users. The press release mentions that Ripple’s Interledger protocol will be used to settle transactions across blockchains. By focusing on cross-chain interoperability out of the gate,

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OxyContin-Stained Sackler Fortune Too Toxic for This Woke Hedge Fund

Under fire for fueling the opioid crisis, the billionaire family that controls OxyContin maker Purdue Pharma LP has been booted from a large hedge fund, the Wall Street Journal reports. Hildene Capital Dumps Family Behind OxyContin Fortune Last year, Hildene Capital Management, which manages some $ 10 billion in client assets, notified Sackler family investment entities that it would no longer handle their money. This overture of socially responsible hedge funding was inspired by an opioid-related tragedy that deeply affected several Hildene employees. Hildene fund manager Brett Jefferson told the Journal: “An opioid-related tragedy affected someone with a personal relationship to

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Singapore Govt’s Wealth Fund Invests in Coinbase’s $300 Million Round

GIC Private Limited, the sovereign wealth fund of Singapore, was one of the investors in Coinbase’s $ 300 million fundraising round last year, it has now been revealed. While there were other investors in the Series E round, GIC’s participation was closely guarded until now, per Bloomberg. Other investors who took part in the fundraising round included renowned Silicon Valley venture capital firm Andreessen Horowitz. The Series E round gave Coinbase a valuation of approximately $ 8 billion. Newsflash: Crypto Giant Coinbase Worth $ 8 Billion, Will List ‘Hundreds’ of Tokens https://t.co/3bIMZBFWjP — CCN.com (@CryptoCoinsNews) October 30, 2018 Funds Allocation Reveals Coinbase’s Global

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