Cryptocurrency Hedge Fund Polychain Raises $10 Million
A new company called Polychain Capital has raised $10 million in capital for a hedge fund made up of cryptocurrencies such as bitcoin. The business, led by former Coinbase employee Olaf Carlson-Wee, believes investors can gain significant returns by investing in digital assets. Former Coinbase Employee Creates Cryptocurrency Hedge Fund Polychain. Olaf....
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Polychain Capital, a Bitcoin hedge fund started by one of the former Coinbase employees has raised funds from Union Square Ventures and Andreessen Horowitz. The increasing popularity of Bitcoin and other blockchain based assets has made it really hard for investors to resist. The shifting trend is readily observable in the number and volume of investments being received by cryptocurrency technology based fintech companies. Polychain Capital, a new hedge fund is one such company that has attracted an investment of a whopping $10 million from two big names in venture capital industry.....
Olaf Carlson-Wee, the first employee at venture-backed bitcoin exchange Coinbase, has departed as head of risk and product manager to focus on a new digital currency hedge fund, dubbed Polychain Capital. While the firm does not yet have investors or even its own website, Carlson-Wee believes that his vision for Polychain Capital will be enough to turn it into one that generates significant returns for those who invest, given that the fund plans to invest solely in cryptocurrencies and other blockchain-based tokens. In interview, Carlson-Wee asserted that, owing to the poor returns shown by....
The U.S. Securities and Exchange Commission has filed a lawsuit against a cryptocurrency hedge fund founder for fraud. The regulator is seeking an emergency order freezing $25 million in digital assets held by a crypto hedge fund he controls. Crypto Hedge Fund Founder Sued in the US The U.S. Securities and Exchange Commission (SEC) has sued a crypto hedge fund founder in Manhattan federal court. The regulator alleges that Stefan Qin, a 23-year-old Australian, defrauded investors in his $92.4 million cryptocurrency arbitrage fund, according to Tuesday’s court filing. Qin founded New....
San Francisco-based Polychain Capital, a startup involved blockchain assets trading has reportedly raised $10 million in funding from investors including VC firms Andreessen Horowitz and Union Square Ventures. Polychain Capital is notably led by Olaf Carlson-Wee, the first employee of prominent bitcoin and ether exchange Coinbase. Launched in September 2016 with $5 million from 30 investors, Polychain aims to facilitate investments in blockchain-based digital tokens. Speaking to Forbes, Carlson-Wee stated: There will be many types of assets codified into the blockchain, and they are all....
Panxora, a cryptocurrency hedge fund manager, seeks $50 million to buy digital tokens associated with decentralized finance, known as DeFi.