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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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