Coinbase Introduces USDC Bootstrap Fund To Support DeFi Projects; Investing $2M In Compound & dYdX

Coinbase has introduced a new initiative dubbed USDC Bootstrap Fund and just as the name suggests, the firm intends to boost developers with a fund in terms of USDC tokens.

In a blog post, the crypto exchange said that the new fund will be used to enhance developments of decentralized finance (DeFi) protocols. The new initiative ‘USDC Bootstrap’ will only invest in DeFi based projects using its stablecoin USDC.

DeFi is a relatively fresh concept in the blockchain sphere which can be described as the conventional financial products that you could get from a financial institution like lending or derivatives that have been developed on top of a blockchain. In other words, DeFi protocols consist of smart contracts that are governed by codes and the protocol on which they’re built on.

CoinDesk reports that after several deliberations with DeFi platform developers, the exchange says it realized that liquidity or availability of funds to borrow was one of the urgent needs for DeFi based initiatives. The exchange hopes that through grants, it will boost the development of the DeFi ecosystem.

To kickstart the initiative, Coinbase announced that it was investing 1 million USDC each in Compound as well as dYdX. However, unlike the Coinbase Ventures where investments are made in startups for an equity stake, the Bootstrap fund is designed to add to a protocol’s lending pool where interest will be returned after counterparties borrow from it.

Zhuoxun Yin, dYdX operations head, the most challenging aspect in the development of a new DeFi protocol is attracting borrowing demand. however, the addition of USDC to the lending pools will help to lower the interest rates and embolden clients to borrow more USDC.

Head of Bootstrap Fund Nemil Dalal explained that boosting lending protocols will help in the growth and development of DeFi, which is an area of much interest for Coinbase. In the recent past, Coinbase venture also invested in different DeFi protocols such as Dharma and BlockFi. Dalal explained that Coinbase was interested in enhancing decentralized finance within the banking industry.

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Author: Joseph Kibe

Nickel Arbitrage Fund Raises $50M To Profit On Crypto Volatility Using An Automated Trading System

Nickel Asset Management, a licensed fund from the United Kingdom, has recently been able to raise $50 million USD in order to create a fund that will be focused on profiting from the volatility of the crypto market.

The company, which opened up shop two months ago, has already closed the door to new investors for the moment, as many family offices and funds from both Europe and America were quick to enter this new market.

According to the company, so many clients showed up because they wanted to use the company’s strategies to get money from the extreme price swings which are so common to the market. They are hard to use if you are not very well-equipped or talented, so it makes sense to look for a company if you want to exploit the system.

Nickel Asset Management is regulated by the Financial Conduct Authority, the U. K. regulator for this type of business. Because of this, the company has a fully regulated method to explore this niche.

This company has created a set of automated trading tools that can be used by investors. These tools will expose them to the market with low risk and high rewards.

Alex Kloda, the portfolio manager at the company, affirmed that digital assets and derivatives if they are traded with the right tools and enough speed, can generate rewards that will be higher than the ones offered by many other kinds of investments.

The CEO of the company, Anatoly Crachilov, affirmed that the company’s vision is that digital assets will become an important part of portfolios all around the world, so creating a good solution for institutional traders is a way to be open for the future.

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Author: Gabriel Machado

IMF Chief, ECB President Candidate Advocates for Crypto Regulation Transparency

The chief of the International Monetary Fund (IMF), Christine Lagarde, has recently affirmed that central banks should find the balance between protecting the customers and being open to innovation. She specifically cited cryptocurrencies as some of the innovations that the regulators should be more open to.

According to her, the banks have to be more open to these “opportunities”. Cryptocurrencies are a new technology. This has good and bad sides. They are more prone to be used for criminal activities because they are not so regulated, but they can also bring social benefits with its innovative practices, so shutting them down is a major mistake.

The Campaign For President of the ECB

At the moment, Lagarde is running to be the new president of the European Central Bank (ECB). She affirmed that, in case she becomes the new president, she would prioritize the agility, diversity, and inclusiveness of the institution to improve it.

Another important promise is that she would help the banking institution to be more in tune with the rapidly changing future and to adapt to the current challenges that the financial world faces.

On another occasion, she also talked about the regulation of the crypto assets. According to her, it is inevitable that these assets should be properly regulated. They are too important and too disruptive to be simply be left aside while the world is changing so much.

Cryptos are indeed changing the world, so it is a good idea to take them into account when thinking about any possible future. Nobody expected the blockchain technology to have such an impact ten years ago (except Bitcoin diehards, obviously), so the world has to be prepared.

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Author: Bitcoin Exchange Guide News Team

Head Of Brevan Howard Hedge Fund Is Looking To Invest $1 Billion In Crypto Assets

Billionaire Alan Howard who is the head of Brevan Howard Hedge Fund is looking to make investments in the ever-fluctuating crypto market. Financial Times has confirmed that he is planning to put as much as a $1Billion in the crypto hedge fund.

Notably, Howard made substantial personal investments in cryptocurrencies last year and plans to put more of his own money into digital assets and the blockchain technology behind them.

Brevan Howard’s flagship macro hedge fund recorded its worst ever annual performance last year. Like some other hedge funds betting on economic trends in developed markets, a lack of volatility amid years of central-bank stimulus made it difficult to make money. Now, they seek to capitalize on the volatility of the crypto markets.

“Losing traditional assets in the real world is hard. In the digital world, it’s very easy to lose assets — put in the wrong address for a bitcoin transfer and it’s gone forever,” said Bin Ren who is the CEO of blockchain funds specialist at Elwood.

Ren was earlier the Cheif Invetment Officer at revan Howard’s Systemic Investment Group. He added that screening of the sector had resulted in Elwood identifying up to 50 crypto hedge funds as probably satisfy our due diligence.

While 2018 saw a 72% fall in the price of Bitcoin, the median crypto hedge fund returned -46% over the same period, indicating that these managers were successfully able to outperform their benchmark. However, performance differed based on the type of strategy pursued. The median quantitative fund returned 8% in 2018.

The massive percentage growth of Bitcoin, even in the face of extreme stress testing, has legitimized it in the eyes of investors everywhere. Bitcoin remains a small percentage of the hedge fund industry, but even the oldest and most established funds can see what’s coming.

This broader interest from investors and regulators is undoubtedly a positive step towards digital assets being recognized as an asset class with true viability and longevity.

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Author: Sritanshu Sinha

Australian Tax Office Determines Retirement Portfolios Fully Backed By Crypto Are Illegal

The Australian Tax Office has recently declared that any kind of self-managed fund that is backed only by crypto is breaking the law. Despite what it may look like, this is not a change or a new approach. No Australian retirement fund can have more than 90% of its value in a single asset class.

As you may know, these self-managed funds do not have any specialized company taking care of them, only the main investor. People are legally obliged to diversify their portfolios in this case, possibly in order to save them from themselves.

Unfortunately, this means that someone who has profited a lot from Bitcoin will have to sell some of it and buy other assets instead of being fined by the government.

According to Australian news site Micky, a total of 18,000 funds received warning letters this week because of this. The amount of them that only held crypto was not disclosed. Any self-managed fund that does not comply with the law can be fined in up to $4,200 AUD, which is not a lot if you got rich investing in Bitcoin by yourself.

Crypto Are Risky Investments

Despite how much you may not like that the government is meddling in your investments, the law was created with “good intentions”. It is more dangerous to invest in a single asset class. Cryptos, for instance, are highly volatile.

If you invested all your retirement money in Bitcoin when it was worth $20,000 USD and got out when it was around $4,000 USD, you would have lost 80% of your money. Cryptos are a great investment, but a diversified portfolio is always great.

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Author: Lillian Peter

Ripple Giving Away 1 Billion XRP to Promote Web Monetization Platform Coil

  • Ripple’s Xpring grants 1 billion XRP to Coil
  • The fund to be used to provide a level the playing field for creators

Ripple’s Xpring is giving away 1 billion XRP to promote the web monetization platform Coil.

On Aug 15, Coil announced a 1 billion XRP grant from Ripple’s ecosystem initiative that collaborates with blockchain projects to increase the adoption of XRP.

Founded in 2018 by Stefan Thomas, former CTO of Ripple, Coil is dedicated to web monetization that enables streaming micropayments in any currency including XRP.

“Creators want more choice and control over how their content is monetized and distributed,”

said Stefan Thomas, CEO and founder of Coil and co-creator of the Interledger Protocol.

“Web Monetization provides a solution that is more fair, open and inclusive for creators and fans around the globe. This initiative will help us level the playing field for creators by providing a better way to support content across the web,” Thomas said.

XRP: An Ideal Alternative Monetization Method

This 1 billion XRP will be used to build an ecosystem of creators, companies, developers, and non-profits that are using XRP via Web Monetization.

“Advertising and site-by-site subscription models are ready for disruption,” said Ethan Beard, Senior Vice President of Xpring.

“The low cost and fast transactions of XRP makes it an ideal tool for Coil to offer an alternative monetization method and have a positive impact on creators. At Xpring, we build infrastructure and support projects that enable the Internet of Value and increase the utilization of XRP — we’re excited to support Coil and the team in their journey,” he added.

Launched in May 2019 for creators, the monetized publishing platform allows creators to web-monetize their own websites with a simple tag and supporters to join the community with a $5 monthly subscription.

As subscribers enjoy content, Coil stream XRP micropayments to creators in real time using ILP. Cryptocurrency XRP, however, is not the only option, creators also have the option to be paid out in US dollars via check, ACH or wire transfer.

Earlier this year, Coil partnered with and made an investment in Imgur and Cinnamon.

All of Today’s Ripple (XRP) Price Analysis, Chart Forecasts and Industry News

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Author: AnTy

AMFEIX: Effective Blockchain Investment Trading Fund?

AMFEIX

What Is AMFEIX?

AMFEIX is the world’s first pseudo-anonymous blockchain trading fund. The indefinitely scalable investment Fund aims to solve one of the most limiting and long-due issues of the current investment market. First off, AMFEIX is the only global blockchain investment fund. It operates with strict risk management procedures to ensure that it fulfills adequate consecutive trades to maintain an overall positive return.

Only a small percentage of the pooled funds is left to circulate and traded to generate profits. The rest of the capital is securely stored in several ledger cold wallets. The platform embraces the highest level of security standards, as it aims to protect its clients from any possible inconvenience.

AMFEIX Features

  • Real-time Information: AMFEIX provides real-time access to fund statistics with automated deposits and withdrawals.
  • Pseudo-anonymous: Users on AMFEIX can prove their identity without revealing their personal information.
  • Transparency: It’s possible to keep your personal information safe by using pseudo-anonymous addresses.

Blockchain Fund Details

AMFEIX puts investors’ funds into one pool managed by experienced traders on liquid exchanges. With a team of professional technical traders and analysts, the platform can execute open market operations on a daily basis and make profits from the volatility.

Key details of the Fund include:

  • Pseudo-anonymous: prove your identity without giving out personal data.
  • P & L Currency: BTC
  • 24/7 Support: Team and investor chat can always help with any of your queries
  • Local credentials: Store your passwords encrypted in your computer
  • Referral Program: Earn 10% of your friend’s profits
  • Faster withdrawal: Your withdrawals are processed immediately. Please allow for 24 hours for your funds to reflect in your account.

How AMFEIX Manages Investors’ Funds

AMFEIX employs a number of positions to manage investor funds, both long and short-term strategies. The platform has allocated 54.5% of its portfolio to its short-term strategy through its trading desk. This is where it makes regular trades in various crypto-to-fiat and crypto-to-crypto pairings.

The pairings are chosen for their projected returns from the digital assets with a history of high performance and strong potential future gains. Similarly, AMFEIX analysts choose pairs with a low-risk profile to maximize returns while safeguarding funds.

Getting Started on AMFEIX Fund

To start investing on AMFEIX Fund, you need to create a wallet on their official website, amfeix.com. Once your wallet is ready, you can send funds from your current accounts to your personal wallet on AMFEIX Fund. Importantly, adding funds to your wallet is easy, even for beginners.

The AMFEIX wallet is an integral component of the Fund, which separates it from other traditional investment funds. Given that AMFEIX operates on the Ethereum network—the wallet is completely decentralized. This implies that no government or central authority can manipulate or control the wallet.

Importantly, AMFEIX Wallet comes with 12 random seed keys that you can use to link your device to the account. The seed keys must be accompanied by a password consisting of eight characters. This ensures that your account is secure and safe from hacking attempts at all times.

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Author: Bitcoin Exchange Guide News Team