Neo Banking Solution Startup Juno Raises $3 Million in Financing Round

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Neo Banking Solution Startup Juno Raises $3 Million in Financing Round
Neo banking platform Juno which is said to help Asia to lead digital asset adoption has managed to raise $3 million from a row of prominent investors.
Neo Banking Solution Startup Juno Raises $3 Million in Financing Round

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Source: CoinSpeaker

Polychain Capital and Chinese Bank Join Hands in the Nervos Network STO

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Polychain Capital and Chinese Bank Join Hands in the Nervos Network STO
Polychain Capital has so far said that it will partner with China Merchants Bank International (CMBI) to contribute $5.7 million to the STO Nervos Network scheduled to kick off on October 16.
Polychain Capital and Chinese Bank Join Hands in the Nervos Network STO

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Source: CoinSpeaker

VC Firms are Pouring Huge Money in Crypto Starups, Coinbase Unveils 2018 Earning

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VC Firms are Pouring Huge Money in Crypto Starups, Coinbase Unveils 2018 Earning
The latest Reuters report suggests that big organizations are investing heavily in startups developing protocols and services for the crypto and blockchain sector.
VC Firms are Pouring Huge Money in Crypto Starups, Coinbase Unveils 2018 Earning

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Source: CoinSpeaker

Andreessen Horowitz May Soon Put $1 Billion into Crypto

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Andreessen Horowitz May Soon Put $1 Billion into Crypto
Andreessen Horowitz will soon cease to be a venture capital firm, veering away from the majority of its Sand Hill Road neighbors in Silicon Valley to instead become a registered investment advisor, or RIA.
Andreessen Horowitz May Soon Put $1 Billion into Crypto

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Source: CoinSpeaker

Largest Crypto Hedge Fund Raises $175 Million from VC Funding – Reports

Polychain capital, a leading firm that manages the world’s premier blockchain asset hedge fund has recently raised $175 million for a Venture capital fund. However, the fund has to be locked in for seven years period, according to a Bloomberg report on Jan 30, 2019.
Turning Heads for Exist
For many of us, Polychain Capital is the largest crypto hedge fund but they too feel the heat of the bear market. Last year, the firm has reached over $1billion in assets such as cryptocurrency, tokens, equity held in various companies and along with investor’s unspent pledged cash.  With the count of $1million in assets, Polychain became the first crypto linked fund before the 2018 market crash.
However, this fund of $175 million will have the locked-up period. Olaf Carlson-Wee, Chief Executive Officer of Polychain capital says that this funding is expected to catch equities in crypto projects. Kyle Samani, managing partner at Multicoin Capital Management speaks in regards to hedge funds move towards venture funds. Semani states;
“Funds have silently transformed from hedge funds into venture funds as their liquid portfolios shrank in value, making a very high percentage of AUM illiquid,”
Crypto Bear Market isn’t End
Bitcoin which spiked to almost $20000 in 2017 has lost its major value and in fact, couldn’t recover to its half the value yet. Certainly, there was a number of crypto projects closed their business operation. Similarly, the data from Eurekahedge Cryptocurrency Hedge Fund Index indicates the year 2018 counts 42 crypto funds to wrap their crypto funds up.  Indeed, it also indicates that, out of 740 funds, 70 percent of funds have undergone a huge loss in 2018.
Following the worse conditions, many investors are turning their ways from so-called ICO token which was once seen as the potential way of earning profits. Meantime, history marks a number of scam ICO projects which alarms for severe regulators. Since then the ICO concept is under pressure globally. Poly chain CEO said that
“This asset class has always been incredibly volatile. It’s grown in bits and starts, with very rapid increases and then bear markets… When I launched Polychain Capital I was prepared for this,”
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Source: CoinGape