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Billionaire Steve Cohen Joins the Crypto Party

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Billionaire Steven Cohen seems to have decided to join the list of billionaires with a growing interest in cryptocurrencies. He recently invested in a hedge fund by the name of Autonomous Partners, a fund that acquires cryptos and equity in companies that work with blockchain technology.

Steven Cohen decides to go crypto

Autonomous Partners, which is led by a venture capitalist and crypto enthusiast, Arianna Simpson, has just received an investment from billionaire Steven Cohen. The investment came from Cohen Private Ventures, which was previously launched back in 2010 by Steve Cohen’s family office.

Autonomous Partners is much younger, and it only came to be back in December 2017. Ever since then, it worked with various investors like Brian Armstrong, the CEO of Coinbase, as well as Craft Ventures, and Union Square Ventures. Simpson has been very careful when choosing partners and has stated that she only brought those that can bring value that goes beyond the capital.

Cohen’s Private Ventures has not released any official comment or statement regarding this. However, it is known that the firm has collaborated with Simpson in the past. Previously, the company invested in another one of Simpson’s venture funds back in 2015. The fund was called Crystal Towers Capital.

About Autonomous Partners

Autonomous Partners recognizes the uncertainty that comes with the crypto market, and in fact, the entire industry. Because of that, it focuses its efforts on those areas that have a potential in the long run. According to Simpson, the firm is also dedicating a small part of the funds to big cryptos, including Ethereum and Bitcoin. However, she stated that she primarily focuses on crypto aspects that are next gen. After all, the biggest cryptos can be accessed with ease by pretty much anyone.

The companies that Simpson is interested in include those that wish to speed up their transactions, privacy coins with focus on anonymization, firms that wish to work on the problem of scalability of the blockchain, and alike. One example of Simpson’s investment includes a special protocol called 0x. This is a protocol that allows the creation of decentralized crypto exchanges.

Ripple gets a pass in fear of being a security

A lot of people have noticed that the fund’s investments lack in Ripple (XRP) coins. XRP is the third largest crypto as per CoinMarketCap, but it is mostly owned by the company Ripple itself. According to Simpson, the concerns that XRP might be a security are what makes things different in this case, which is why she gave Ripple a pass.

Simpson even stated that the issue with Ripple is its level of centralization, as well as regulatory issues if it turns out that Ripple is a security after all. This is a concern that many others share as well.

One example of this includes Multicoin Capital, which is another crypto hedge fund. After many indications that Ripple is a security, Multicoin Capital even decided to short Ripple back in June of this year. Of course, as always, Ripple continues to claim that its token is not a security. In fact, the company’s CEO, Brad Garlinghouse, even stated that the ownership of XRP does not give Ripple control over it.

Is blockchain for real, or only a bubble?

Blockchain has proven to have a lot of potential for changing the way business works in many different fields. As soon as people understood this, a large wave of various blockchain projects arrived. Some of them concentrated on tracking diamonds, implementing loyalty programs, and even organizing international payments.

Some believe that the excitement about the technology has made everyone expect it to achieve more than it is currently capable of achieving. Some, like Steve Wozniak, the co-founder of Apple, has stated that he felt that the blockchain was a bubble. He believes so even now and continues to support this opinion.

Simpson, on the other hand, is a blockchain and crypto believer, and she has already dedicated five years of her life to this product. She doesn’t plan to give up on it now and instead believes that the blockchain technology will prove its worth as time goes by.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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