Crypto hedge fund Pantera Capital is seeking to raise $175 million for its third venture fund, a six-fold increase from its previous fund target, TechCrunch reports August 16.
For Pantera’s debut fund in 2013, the firm had raised $13 million, rising to $25 million for its second. TechCrunch quotes Pantera partner Paul Veradittakit as noting the new target is a “function of how fast the space is moving, the talent coming in, the opportunities, and the sizing of rounds”:
“With more interesting later-stage investments [on our radar], too, we want to be flexible and able to move with the market.”
As a recently processed SEC filing shows, Pantera has so far closed $71 million in capital from around 90 investors.
Alongside its “traditional” venture funds, Pantera has been adapting three other crypto-specific strategies for investors looking to enter crypto, TechCrunch notes.
One comes via a hedge fund that focuses on Initial Coin Offerings (ICO), connecting developers with investors when a project is still in the earliest of stages and helping investors to navigate an unregulated, and for many, uncharted space.
Another is a venture fund that targets already-listed crypto assets, using machine learning as well as input from the fund’s partners to optimize investments. As Veradittakit told TechCrunch, this fund is for:
“if you aren’t sure that Bitcoin will remain the dominant cryptocurrency, or you’re interested in other use cases that may arise, or you just want to build a diversified portfolio of assets that have asymmetrical returns as bitcoin, or maybe return even more because they feature lower valuations.”
Lastly, Pantera continues to run its flagship Bitcoin (BTC) fund, which a recent Medium post from the firm claimed has enjoyed a “lifetime return [of] 10,136.15% net of fees and expenses.”
Some of Pantera’s investments to date reportedly include BitStamp, Xapo, Ripple, and Circle, as well as more recently, Chain, Abra, Veem, Polychain, and ZCash.
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I no longer support #bitcoin#btc . I have strong reasons to believe that the developer community has been infiltrated by the US government and possibly governments from other nations. Mass adoption is being intentionally derailed and substantially slowed by BlockStream the main core development team. To make a digital currency work it needs to be used by as many people around the world as fast as possible while remaining almost free. If you doubt the infiltration by governments I’d like to refer you to FBI and CIA websites claiming one of their main purposes is infatuation and data collection. I now fully support #bitcoincash#bch. I also still strongly believe in the future of privacy coins such as #monero and #zcash. Bitcoincash is my favorite _ #blockchain and #cryptocurrency because I believe it has the greatest potential to bring economic freedom to the most people in the shortest amount of time. Once the worlds using digital money the world can then decide what the standard will be but the most important thing is the destruction of fiat currency and the mass adoption of #crypto.
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La plataforma Invest in Blockchain, se dio a la tarea de estudiar a las top 100 principales criptomonedas según su capitalización de mercado, y descubrió que sólo 40 de ellas han logrado lanzar lo que ellos consideran un producto funcional al público. La plataforma uso como referencias el estado actual de cada proyecto, la hoja de ruta que plantearon, el historial de versiones y las características de lo que realmente se ha entregado.
El estudio definió el concepto de producto funcional como uno que: este activo y disponible al público, que su mainnet tenga tiempo de haber sido lanzada (por lo que proyectos más nuevos no fueron incluidos) y tenga una versión superior a la 1.0. Esto ya que los proyectos de blockchain al ser de código abierto no son tan difíciles de crear y lanzar, por lo que la medición no sería muy rigurosa.
La plataforma también toma en cuenta que los productos deben tener un uso diario o masivo de su aplicación descentralizada, contratos inteligentes o transacciones de divisas digitales. Considera que no es suficiente que un producto simplemente exista y que sin casos de uso o una base de usuarios activa califique como producto funcional.
Como era de esperar, la mayoría de estas 40 criptomonedas con productos activos fueron sistemas de pago como Bitcoin (BTC), Litecoin (LTC) o Bitcoin Cash (BCH). Por otra parte, Ethereum (ETH) por ejemplo, se centra en su plataforma de contratos inteligentes.
Century-old delivery giant United Parcel Service (UPS) believes that blockchain technology could help streamline package delivery logistics across a global supply chain.
According to documents published by the US Patent & Trademark Office (USPTO) on Thursday, the Georgia-based UPS has applied for a patent that utilizes blockchain and distributed ledger technology (DLT) to route packages throughout an international supply chain that may include multiple carriers.
The patent application, which UPS originally filed on Feb. 16, explains that while shipping logistics providers have become quite adept at optimizing package routing to increase efficiency and minimize costs, it is still difficult to coordinate logistics for shipments that involve more than one logistics service provider transportation network.
As the authors explained: “[T]here may be scenarios in which it is advantageous for various logistics service providers to transport the shipment unit along different legs/segments from its origin to its destination. However, it may be difficult to coordinate the transportation of the shipment unit through the various logistics service provider transportation networks. Moreover, if there are special handling requirements for transporting the shipment unit, it may be difficult to ensure that the special handling requirements are carried through by each of the various logistics service providers that may assist in transporting the shipment unit.” UPS aims to tackle this problem with an autonomous system that, in some embodiments, uses an immutable blockchain ledger to automatically route packages through multiple logistics service provider networks.
Once a package has been scanned into a packaging facility, the system will automatically select a route based on the service offerings of network-connected shipping providers. As the package travels to its destination, information about the shipment will be recorded in the blockchain ledger, allowing the system to rate whether service providers are meeting the obligations of their respective service offerings.
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#SouthKorea#Crypto Industry More Optimistic Than Ever Despite Bear #Market
Throughout the past two months, investors in the local crypto market of South #Korea have continuously expressed their optimism towards a drastic change in the regulatory landscape of crypto.
Since early February, the crypto market has endured the third-worst correction in its history, experiencing a 78 percent decline in price. Despite the bear market, the cryptocurrency industry of South Korea has seen significant progress pertaining to regulation and adoption.
Crypto Will Soon be a Legitimate Industry in South Korea
Due to the extreme volatility of the cryptocurrency market, the vast majority of investors in the global market have recently been focused on the short-term price trend and movements of major cryptocurrencies.
However, while the price of cryptocurrencies is an important metric that demonstrates the level of adoption of digital assets, it is equally crucial to acknowledge positive developments in the cryptocurrency sector.
Since June, the #cryptocurrency market of South Korea has seen actual progress in digital asset-related regulation, primarily due to the increasing efforts of the government to implement practical regulatory #frameworks for cryptocurrency and blockchain companies.
Local financial authorities and the Financial Services Commission (FSC), the main financial watchdog of South Korea, have focused on legitimizing the industry by recognizing cryptocurrencies as regulated financial institutions, placing them under the authority of the FSC.
Once the cryptocurrency and blockchain bill is passed by the Congress, every cryptocurrency exchange will be required by law to comply with the same security, internal management, and anti-money laundering (AML) policies local banks and financial institutions are required to remain in compliance with.
Authorities at the FSC emphasized that the bill, if passed, will effectively put an end to the “Kimchi Premium,” which has declined substantially since December of last year, and reduce cases of security breaches and hacking attacks.
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#Bitcoin and #Ethereum Rise 6% as #Market Rebounds During Dark Skies
Over the past 12 hours, Bitcoin and Ethereum have risen by more than 6 percent in value, but some #analysts are still not convinced about the short-term trend of the #crypto market.
Generally Positive Sentiment
The quick recovery of Bitcoin and #Ether, the native #cryptocurrency of the Ethereum #network, has led the general sentiment of the market to become more positive.
Ether, which plunged by nearly 20 percent on August 14, showed strong movements today, increasing from $250 to $280.
Ethereum Classic, Litecoin, Ripple, NEO, and other major cryptocurrencies also surged in value and volume on August 15, recording 5 to 10 percent gains in a relative short period.
However, the corrective rally recorded today was not as strong as investors expected it to be. In consideration of the steep drop in value the crypto market recorded over the past 72 hours, investors predicted a more strong bounce from previous levels. But, Bitcoin, Ether, and Bitcoin Cash, which recorded solid gains in the last 12 hours, have started to demonstrate a downward trend once again.
Willy Woo, a well respected cryptocurrency investor and analyst who predicted the price of Bitcoin to drop below the $6,000 mark since May of this year, recently said that the market will likely experience another drop before its next mid-term rally.
Woo specifically said that Bitcoin will likely test the $6,000 support level once again in the near future, even if Bitcoin recovers beyond the $7,000 mark and the market sees a convincing rebound. “Leveraged short positions now near all time high. Anyone got a spare $35m in their trade account? Should be enough to trigger all those stops for a payday,” Woo said, referencing his previous statement made on August 13: “The 3rd dead kitten. Fractally speaking, I’m framing this last down leg as an oscillation around the main move. The green line is just magic crayons for short range TAs to determine, the retest target and rate of decline are the things I’m watching. NVT only mildly supports this.” Where Does the Market go Next?