Virginia Police Department Reveals Why its Pension Fund is Betting on Bitcoin

Fairfax County, Virginia has targeted part of its pension fund toward investments in the Bitcoin and cryptocurrency industry, as well as blockchain technology in general. Now, they’re explaining why. Fairfax County Retirement Systems Director Jeff Weiler published a post in response to CCN and other media’s reporting on the county’s decision to invest in Morgan Creek’s latest offering, the Blockchain Opportunities Fund. Oversubscribed from its intended $ 25 million, the fund invests in blockchain companies. It captured $ 40 million from two Fairfax County pension plans and other institutions. Less Than 1% Of Two Retirement Funds Allocated to Crypto Ventures First things

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MasterCard, Ripple, Barclays Fund US XRP Remittance Firm in $1.7 Million Seed

Global remittance startup SendFriend has raised $ 1.7 million in pre-seed funding by 13 participants. The US company announced Monday that it had received support from MIT Media Lab, Barclays, the Mastercard Foundation, Ripple, TechStars, Mahindra Finance, 2020 Ventures, and 8 Decimal Capital. Other companies that joined the round at an earlier stage include Deloitte and New York Angels. Thanks to @BuiltInNewYork for including us on their list of 50 Startups to Watch in 2019. Excited for a fun year ahead! #fintech #sendfriend #nyctech https://t.co/9OxD8xIQVG — SendFriend (@sendfriendinc) February 5, 2019 Partnership with Ripple Labs Launched in May 2017 by a

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$225 Billion Abu Dhabi State Fund Dumps 35 Million AMD Shares for Cash – Has the Chipmaker Hit a Market Top?

Sovereign wealth fund Mubadala Investment Co has announced the sale of nearly 35 million shares in semiconductor firm Advanced Micro Devices (AMD). According to Reuters, the state fund of Abu Dhabi disposed of 34.9 million common equity shares in AMD. Mubadala also intends to convert 75 million warrants in the chipmaker into common equity shares. After the conversion Mubadala will have an ownership stake of around 6.9%. The chipmaker will benefit from the conversion to the tune of $ 448.5 million. Per a spokesperson, Mubadala’s decision to sell part of its stake in AMD was driven by its investment strategy. This

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Why Hedge Fund Titan Ray Dalio Says the US Stock Market is Lurching Toward Recession

By CCN.com: Ray Dalio, the investment chief at the $ 160 billion Bridgewater hedge fund, joins other money titans and economic experts in warning that a recession looms on the horizon, threatening to wipe out the US stock market. Others still disagree. Dalio Does Davos, Warns US Stock Market Faces ‘Significant’ Risk of Recession Speaking to

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Billionaire Hedge Fund Mogul George Soros Warns That the US-China ‘Cold War’ Could Escalate Into a ‘Hot One’

By CCN.com: Billionaire hedge funder George Soros has warned that the ‘cold war’ consuming the United States and China could get ugly. Speaking in Davos, Switzerland on the sidelines of the World Economic Forum (WEF), the chairman of hedge fund Soros Fund Management said things could get nasty as the world’s two biggest economies stay

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