Bitcoin Blockchain is the Last Economic Fortress, Provides the Unbanked with Jobs
Bitcoin could be used as a means for economic liberty, since it is easy to use, secure and reliable for merchants. It is not only used as a world currency, but also as a savings asset. It is the “one last economic fortress”. Cryptocurrencies go where big banks won’t trouble to go, but could the Blockchain also provide wealth for the unbanked by providing jobs in the near future? The western world has by now has been significantly disrupted by the blockchains of Bitcoin, Ethereum and many other currencies and tokens. According to the 2014 Global Findex, 700 million adults worldwide became....
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Fortress Investment Group purchased $20m worth of bitcoins last year, according to a recent filing with the SEC. Back in December it was rumoured that Fortress had plans to launch a bitcoin investment fund. The news was first reported by CNN, but it could not be confirmed until now. Fortress is said to be developing a new investment vehicle based on bitcoin which is expected to be an unlisted Exchange Traded Fund (ETF). The move appears to have been connected to San Francisco-based Pantera Capital. Pantera then registered an investment advisor entity called Pantera Bitcoin Advisors LLC and....
Ripple, a prominent cryptocurrency firm, has announced its acquisition of Fortress Trust, a financial institution that offers Web3 financial, regulatory, and technology infrastructure for blockchain innovators. With a focus on providing back-end infrastructure for payments, asset tokenization, and other services, Fortress Trust serves a wide range of clients, from Fortune 500 businesses to fintech startups, […]
Fortress Investment Group is the first large public company to file Bitcoin holdings with the SEC. (NYTimes) Fortress Financial Group LLC, an asset manager worth $4.25 billion, reported in its annual SEC filing a $3.7 million unrealized loss in bitcoin holdings. I wouldn't feel too bad for Fortress though, as its latest financial report includes this statement by CEO Randy Nardone: “It was an outstanding year for Fortress, driven by strong investment performance across virtually all asset classes and funds. Full year distributable earnings per share increased by nearly 70% over 2012, and....
Major financial players are feeling the effect of the ongoing financial crisis and are forced to cut down staff numbers all over the world. Barclays, one of the biggest banks in the world, has announced they will be cutting at last 1,200 jobs. Especially their Asian branch, which will be hit the hardest by this decision, as 230 employees will be let go....
Investment firms Fortress Investment Group (FIG), Benchmark Capital and Ribbit Capital have teamed up with Pantera Capital to launch a bitcoin investment fund. The new fund will be known as Pantera Bitcoin Partners LLC and, as the name implies, it will be controlled by Pantera. Fortress, Ribbit Capital and Benchmark Capital will be minority equity partners. Fortress became the first Wall Street investment firm to enter the bitcoin space. Last year it was rumoured to be acquiring bitcoins and a regulatory filing published in February revealed it had set aside $20m for bitcoin investments in....