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Morgan Creek Fund bans Ripple’s XRP alike cryptos from its new crypto repository

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The controversy related to whether or not Ripple’s XRP should be considered as a security has appeared one more time as today it was excluded in the launch of the Morgan Creek Fund, a crypto related fund that provides its users the possibility of accessing some of the top cryptos in the market.

In this sense, whenever we mention ‘top cryptos’ we cannot avoid thinking of Ripple (XRP), the third largest cryptocurrency by market capitalization. However, as it seems, the third largest crypto is just not being considered by the fund because of centralization issues. Let’s see all of the details on this.

Morgan Creek Fund

The Morgan Creek Fund was created in collaboration with Anthony Pompliano, who formerly was the owner of a firm called Tilt Capital, a company that was acquired by Morgan Creek at the beginning of the year for an amount that has been undisclosed since the partnership started.

Earlier this year we knew by Pampliano himself that he would like to focus primarily on crypto, but it wasn’t till Morgan Creek managed to partner with the fund-sponsor Bitwise Investment Advisors, LLC; when the project started to shape.

Let’s recall that earlier this year, Bitwise launched as well a crypto-related fund dubbed HOLD 10. However, Hunter Horsley, co-founder of Bitwise clarified that the main difference between the two projects centers on the committee, as Mark Yusko, CEO of Morgan Creek, Pompliano, and Matt Hougan, head of the research at Bitwise, are a part of the board of advisors.

With relation to the fund, it was known that it carries $1.5 billion in assets, and they will provide pensions, wealthy families, endowments and accredited investors with an exposure to cryptos such as Ethereum (ETH), Zcash, Monero, Litecoin (LTC), Omisego, Bitcoin cash (BCH), EOS, Dash, Ethereum classic (ETC), and of course Bitcoin (BTC).

Among the excluded coins we can find Ripple (XRP), TRON (TRX), Stellar (XLM), Cardano (ADA), and other tokens that in accordance to Morgan Creek may represent a risk in the future.

Regarding this, Pompliano stated that,

“If there’s a central party that owns 30% or more of supply” that would be enough reason for the index to ban that crypto of the fund. He continued by saying that those coins holding high percentages of their own crypto have great opportunities to control the way the coin will perform, and that simply “introduces a lot of additional risks that may not be there if it was a more decentralized network.”

With relation to this, all of the coins that fit in this description are considered pre-mined cryptos, coins that were mostly created in the early stages of the blockchain. For its part, Horsley states in this matter that,

“with decentralization being a cornerstone of most blockchain designs, having a large portion of assets held centrally runs counter to that and could create complexities that differ from what we would expect from public blockchains”.

Conclusion

The decision of the Morgan Creek fund definitely represents a low blow for Ripple, which has made significant efforts to dispel the rumors of their centralization issues. Nonetheless, the company continues occupying the third place in the market concerning market capitalization.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Isaiah Rustad on Unsplash

Altcoins

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

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Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

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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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TRON (TRX) Is Likely to Go Big in June

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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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