Dispute Breaks Out Over Title of 'First Regulated Bitcoin Hedge Fund'
In July, a hedge fund in Jersey issued a press release announcing that it had become the first regulated fund to deal in bitcoin. The Jersey fund, called Global Advisors Bitcoin Investment Fund (GABI), later said it was seeking $200m in assets under management. In subsequent months, mentions of GABI have been regularly prefaced by its status as the first regulated bitcoin hedge fund by everyone from the BBC to Newsweek. Now another hedge fund is challenging GABI's claim. Crypto Currency Fund, managed by Timothy Enneking, says that it, not GABI, should rightfully be referred to as the....
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Mega bank HSBC has reportedly decided to cut ties with a hedge fund that's planning to bring the first regulated bitcoin investment fund over concerns of money laundering, BBC reported Monday. Mr. Daniel Masters of Global Advisors (the hedge fund in question) has said that this situation threatens plans to make the Island of Jersey (where the fund is based) a place where cryptocurrency businesses can flourish, adding that HSBC's decision in the matter is a "step in the wrong direction for Jersey." The fund is called the Global Advisors Bitcoin Investment Fund, or GABI. Meanwhile, HSBC told....
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