Crypto fund manager Bitwise has launched two new funds to address client demand | From Banks to Bitcoin: J.P. Morgan employees who have left Wall Street for the crypto world
|Dec 5, 2018|| 1|
“ConsenSys 2.0 requires us to evaluate our endeavors more rigorously. We will seek to run leaner projects because often better decisions are made in a context of more constrained resources. Scarcity sharpens the senses and forces discernment in decision making. Lush plentitude, while perhaps a noble goal in many circumstances, should be hard won; otherwise it leads to complacency and dull-wittedness.” — Joe Lubin, Founder ConsenSys
The Big Block
California-based Bitwise Asset Management on Wednesday announced the launch of two new crypto funds, a move that could put the firm up against one of the largest investors in the market for digital currencies.
The two funds, The Bitwise Bitcoin Fund and the Bitwise Ethereum Fund, join the asset manager’s crypto basket Bitwise 10 Private Index Fund. Bitwise says its clients have been clamoring for crypto-specific funds to invest in despite the bear market. “The 68% drawdown in bitcoin prices this year has given investors a unique opportunity to enter the market at prices many thought we’d never see again,” said Hunter Horsley, Bitwise CEO.
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Around The Block
From Banks to Bitcoin: J.P. Morgan employees who have left Wall Street for the crypto world
J.P. Morgan is one of the largest and most well-respected investment firms on Wall Street. The bank has a rich history of producing CEOs of billion-dollar companies and financial executives. J.P. Morgan alumni have established themselves as industry pillars, from traditional finance to politics to tech, and crypto is no exception. And while J.P. Morgan’s CEO, Jamie Dimon, has called bitcoin a “fraud” and “worse than tulip bulbs”, many former employees have made the move to crypto full-time. — More
Ethereum co-founder Joe Lubin sounds the alarm and refocuses ConsenSys in expansive employee letter
Joe Lubin, Ethereum co-founder, sent a missive to the entire organization that he runs last Friday, amidst a significant decline in the price of $ETH. ConsenSys, Lubin’s massive cryptocurrency venture studio with ~ 1,000 employees, has grown at warp speed over the past few years and long been rumored to de-emphasize focused strategic building in favor of rapid growth, project autonomy and experimentation. In fact, the decentralized nature of the organization is something that Lubin and ConsenSys employees took great pride in. However, as first reported by BREAKER, Lubin’s Friday letter highlighted an organization in flux and ready to implement significant change. — More
Seven major EU countries sign declaration to promote blockchain technology — More
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Binance gives a sneak peek of its decentralized exchange — More
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