Coin Metrics raises $1.9M to bring crypto data to institutions | A former ConsenSys exec has raised for a fund that’ll squeeze more alpha out of Ether
|Feb 27, 2019|
The Block is transitioning to a new email platform. Be sure to add us to your contacts to prevent our newsletters from being sent to your spam folder!
“JPMorgan Coin could be internal, could be commercial, it could one day be consumer.” — Jamie Dimon, CEO JPMorgan Chase
The Big Block
Coin Metrics, a cryptocurrency data provider, is growing up.
The firm announced Thursday that it has raised $1.9 million of venture funding. Castle Island Ventures led the financing round with participation from investors including Fidelity Investments, Highland Capital Partners and Dragonfly Capital.
Coin Metrics was founded in 2017 by Nic Carter and Aleksei Nokhrin as an open-source blockchain data and analytics projects. In their blog post introducing Coin Metrics, Carter and Nokhrin note that their original goal was to “equip serious investors with the tools to appraise cryptoassets in a rigorous, careful manner.”
For a majority of 2017 and 2018, Coin Metrics was funded entirely from donations and a few sponsorships. In November 2018, the team brought on Tim Rice, a former Thomson Reuters executive, as its co-founding CEO to lead its push into the institutional space.
“We are evolving from an open-source community-based project,” Rice tells The Block. “We view the next iteration for Coin Metrics is building and advancing our data for institutions.
Read More on The Block (2 Minutes)
Around The Block
A former ConsenSys exec has raised for a fund that’ll squeeze more alpha out of Ether
Ether has fallen 90 percent from its all-time highs, but that’s not stopping a former ConsenSys executive from starting a new fund dedicated to the second-largest cryptocurrency by market capitalization.
DARMA Capital, an investment firm led by James Slazas, formerly head of capital markets at ConsenSys, announced the launch of its new ether fund, the so-called DARMA Optimized Long-ETH Fund (DOL-ETH). — More
Samsung reveals Galaxy S10 blockchain partners
Samsung has revealed four of its blockchain partners—bitcoin, ethereum, enjin, and cosmee—for the new Galaxy S10 mobile phone, CoinDesk reports. Partners’ logos have been featured in the Samsung Mobile Business Summit session at MWC Barcelona 2019 on Feb. 25.
The exact nature of the partnership remains unknown and will most likely be revealed after the launch. It is speculated, however, the tokens will all be supported by Galaxy S10’s crypto wallet. — More
Coinomi user claims ‘critical vulnerability’ in wallet exposes private keys; company releases official response — More
Coinhive will shut down its cryptomining service in March — More
Steve Wozniak remains optimistic about Bitcoin’s potential — More
Pangea Blockchain Fund raises $22M, plans to invest in ‘market-defining blockchain technologies’ — More
MonetaGo switches to R3’s Corda to avoid scaling issues — More
Bitcoin retail investor holdings of up to 10 BTC are still going strong despite crypto winter — More
Blockchain startup Nivaura gets funding from London Stock Exchange Group — More
CME reports S&P 500 and U.S. Treasuries futures markets outage — More