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Pension Funds Double Crypto Asset Exposure in Morgan Creek’s Fund to 1%

Morgan Creek Digital now takes up around 1 percent of the assets of two Fairfax Retirement System pension funds – an investment which has more than doubled since taking their first position in the fund that closed in February. Two of the three pension funds under the system from Fairfax County, Virginia, the Police Officer’s Retirement System and Employees’ Retirement System, invested $55 million in Morgan Creek’s second fund in October. The new allocation came …

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The ‘Bitcoin Rich List’ Has Grown 30% in the Last Year, But Why?

The Bitcoin Rich List, or the number of addresses holding more than 1,000 BTC, has grown in the past 12 months, possibly reflecting an influx of high-net-worth investors.   The metric has registered growth of 30 percent since September 2018, according to Coin Metrics data. Even when adjusted to exclude addresses known to belong to exchanges, the figure shows a similar surge. At press time, 2,148 addresses contain more than 1,000 bitcoins, amounting to just 0.01 …

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After Painful 2018, Chinese Blockchain VCs Are Getting Back Into the Market

The Takeaways: After the 2018 crypto crash, up to 90 percent of blockchain-focused Chinese venture capital firms left the market. Now, as China’s central government pushes for greater blockchain adoption, some are returning and deal-flow is increasing.   Surviving funds are retooling and diversifying into fields such as secondary trading and bitcoin mining.  Chinese venture capital firms are taking another look at blockchain. After the 2018 crypto crash, up to 90 percent of blockchain-focused VCs left …

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Crypto Still in ‘Darwinian’ Process of Selection

A top executive at private Swiss private banking Julius Baer says cryptocurrencies are still at the stage of a “Darwinian” process of selection. In an interview with Arabian Business on Oct. 29, Christian Gattiker-Ericsson — Julius Baer’s chief strategist and head of research and investment solutions — argued that: “We are still in this Darwinian selection process where different business models get tried and tested, but we haven’t seen something that was a clear winner.” …

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Wallet Provider Blockchain Ventures Takes Stake in Gaming Platform Enjin

The venture arm of cryptocurrency wallet, data and exchange provider Blockchain has taken a stake in blockchain game technology firm Enjin. Blockchain Ventures said on Tuesday that the investment makes it the first equity investor in the gaming tech firm, which enables tokenized in-game items to be ported across ethereum-based titles built using its platform. Blockchain Ventures didn’t disclose the amount of the investment. Singapore-based Enjin has built a number of apps to support its ecosystem, …

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CFTC Takes Action Against Crypto Options ‘Ponzi Scheme’

A purported cryptocurrency and foreign exchange investment firm is in hot water with the U.S. Commodity Futures Trading Commission (CFTC) and stands accused of operating like a Ponzi scheme. In a press release on Wednesday, relating to a complaint filed Sept. 30., the CFTC said it’s charging Nevada-based Circle Society and its operator David Gilbert Saffron with fraudulently soliciting and misappropriating investor funds, as well as registration violations. Through his firm, Saffron offered binary options on forex and cryptocurrency …

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Singapore Exchange–Backed iSTOX Raises Series A for Tokenized Securities Trading

Singapore Exchange-backed security token platform iSTOX raised an undisclosed amount of Series A funding from one of the largest Thai investment banks, Kiatnakin Phatra Financial Group (KKP). While declining to reveal financial terms of the deal, the firm said KKP is the only investor in the latest funding round. Proceeds from the raise will be used to grow the user base of qualified investors, issue tokens with a range of securities such as stocks, bonds …

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Bitcoin Is 2019’s Best-Performing Asset, Even After Recent Price Downturn

The Takeaway Bitcoin prices have more than doubled in 2019, far outpacing the 31 percent return for U.S. tech stocks, which Goldman Sachs deems the best-performing asset class year-to-date. Outsize returns could attract interest from big investors in the yield-starved traditional financial markets. Executives at data firm Messari say bitcoin prices, currently around $8,200, could rally to a new high in the year’s remaining months, topping the $12,902 level reached in June. Investors would be …

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Norwegian Bank Invests in Crypto Exchange Founded By Airline Magnate

A Norwegian savings bank dating back to the mid-1800s has just invested in a cryptocurrency exchange set up by local business magnate Bjørn Kjos. In a press release posted on the Oslo Stock Exchange, Sparebanken Øst said it had taken a 16.3 percent stake in Norwegian Block Exchange (NBX) for 15 million Norwegian krone (around $1.638 million). NBX was revealed to be in development in April of last year, after being founded by Kjos and his family. Bjorn’s son Lars Ola Kjos …

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