Report: An AI Hedge Fund Paid for By Bitcoin
Numerai, a hedge fund based in San Francisco, has gained a following since launching this month as the first hedge fund that gives stock market data to machine learning scientists using structure-preserving encryption. The fund allows open participation by data scientists around the world. Founder Richard Craib and his company recently completed their first round of venture funding, led by the New York venture capital firm Union Square Ventures, according to Wired. Union Square has invested $3 million in the round, with an additional $3 million coming from others. Numerai has built a....
Related News
If you’ve ever built a hedge fund, chances are you’re a financial magnate… And you’re probably really smart. 29-year-old South African entrepreneur Richard Craib certainly appears to be both as the creator of San Francisco’s latest hedge fund operation Numerai. Hedge funds have been looking for new ways to enter the world of bitcoin. A former Coinbase employee who has left the guise of the world’s largest bitcoin exchange to create his own financial haven has already birthed revenue exceeding $10 million, while a New York hedge fund has brought in over $5 million. Impressive totals for....
When it comes to bitcoin and AI, it is impossible to tell what the future will hold. A new breed of hedge funds is coming to Wall Street and other financial areas all over the world. Two new technologies are becoming the next area of focus: artificial intelligence and bitcoin. One interesting example is called Numerai, a hedge fund trading through machine learning models built by scientists paid in bitcoin. It is evident there is a growing demand to access the bitcoin ecosystem without having to buy cryptocurrency directly. On paper, it is not easy to grasp the concept of a bitcoin or AI....
In a report filed with the U.S. Securities and Exchange Commission (SEC), the fund managers for the Miller Opportunity Trust, Bill Miller’s hedge fund, state that “bitcoin has significant upside potential as a form of digital gold.” The report details that despite its volatility, bitcoin’s “risk-reward is attractive.” Hedge Fund Manager Sees Bitcoin’s ‘Significant Upside Potential’ Miller Value Funds’ semi-annual report for the Miller Opportunity Trust, filed with the U.S. Securities and Exchange Commission (SEC) last....
The hedge fund Fir Tree Capital Management’s investors claim it has developed a method to short the stablecoin tether. A report notes that “clients of the firm” said the potential to reap big rewards from shorting the world’s largest stablecoin is great.
Investors Say Hedge Fund Devised a Method to Short Tether, Fir Tree Bets Short to Pay off in 12 Months
On March 6, 2022, the market valuation tied to the stablecoin tether (USDT) surpassed the $80 billion mark. Tether is the largest stablecoin by market capitalization and it represents 4.43% of the....
…And they’re paid in Bitcoin. Yes, it does sound like a joke, but San Francisco hedge fund startup, Numerai, is attracting an increasing number of big name investors. First, Hedge Funds Need Data. Running a hedge fund requires the processing of vast amounts of data… or one guy, up to his eyeballs on coke, throwing sticky darts at a computer screen, but let’s ignore him. The majority of funds are still managed by humans: analyzing market trends, breaking (and expected) financial news, along with a wealth of other information. This data guides the human manager when making the investment....