Mapping out crypto investors | Fidelity ramps up hiring | Majority of ICOs trading below offering price
Bitcoin $6,464
▼
Ethereum $203.90
▼
Crypto Mkt Cap $208B
▼
BTC Dominance 53.80%
Fidelity is dialing up hiring for its cryptocurrency efforts
Accounting giant EY: Vast majority of ICOs trade below offering price, many worthless
“Blockchain, now its own rapidly-developing industry, is proceeding on several paths: private blockchains, bank-controlled blockchains, pubic blockchains, even using the bitcoin blockchain itself. Some uses may turn out to be useful, but some appear to be speculative, toy-like. Really, marriage proposals on the blockchain?” — Timothy May, Cypherpunk and author of the “The Crypto Anarchist Manifesto”
The Big Block
Cryptoassets with their parabolic growth rate and 24/7 trading periods have attracted a slew of new institutions looking to invest in the space. Even with the ongoing bear market, crypto-focused hedge funds are launching at an increasing rate, with recent reports estimating that 90 crypto hedge funds have already launched in the first three quarters of 2018. As such, The Block has decided to take a look at the crypto investment space and map out the players investing in it.
We have categorized the investors in this space into six sub-categories: (1) Traditional venture capitalists, (2) Crypto venture capitalists, (3) Crypto Hedge Funds, (4) Accelerators & Incubators, (5) Companies, and (6) Fund of Funds
Read More on The Block (3 Minutes)
Around The Block
Fidelity is dialing up hiring for its cryptocurrency efforts
Fidelity made headlines ealier this week with the announcement of its new institutional brokerage and custody business for cryptocurrency. And now the firm, which is known for its 401(k) and stock brokerage services, is hiring to build out the new crypto business, dubbed Fidelity Digital Assets, according to new job advertisements. — More
Huobi will launch an all-in-one stablecoin
Huobi, the fourth most popular exchange by volume, announced this morning that it will launch an all-in-one stablecoin wrapper called HUSD. HUSD will support all four regulated stablecoins: TrueUSD, Paxos Standard, USD//Coin and Gemini dollar. After depositing any of these four stablecoins, they will be shown as HUSD in the account. Users will be able to withdraw any stablecoin regardless of which one was deposited. Huobi says that HUSD will help to eliminate the need to choose between multiple stablecoins as well as save costs when switching between stablecoins. — More
Binance seeks to add new stablecoins — More
North Korean hackers have stolen $571M in cryptoassets since 2017 — More
Accounting giant EY: Vast majority of ICOs trade below offering price, many worthless — More
Global watchdog for money laundering to release cryptocurrency oversight rules by June — More
Gemini’s business development head Sarah Olsen explains the significance of stablecoins in new white-paper — More
Crypto-related M&A activity hitting record highs — More