February 26, 2019 Weekly Crypto Round Up
Pantera raises $125 million and Nasdaq launches bitcoin and ethereum indices
Black Pantera
Investment firm and hedge fund Pantera Capital has raised $125 million for its next cryptocurrency fund. Pantera’s third and latest fund will invest in 30 to 50 projects and focus on more established players in the space instead of startups. The firm hopes to achieve its $175 million funding goal by March.
Around the same time the fundraising update was announced, Pantera published a very bullish blockchain letter for February. In it, CEO Dan Morehead muses on a variety of topics. He describes current trends, the introduction of legacy organizations to blockchain, and why he believes the current crypto winter is different from the 2014–2015 market.
Things aren’t as rosy for Pantera as they may first seem. In October 2018, leaked screenshots circulated on Twitter showing Pantera’s previous fund was down 73% year-to-date. Accordingly, fundraising has slowed dramatically in the bear market. In August 2018, Pantera Capital claimed they had raised $100 million for their next fund. In other words, since August, fundraising has slowed to a trickle of about $4 million per month. It seems unlikely that Pantera will reach the $175 million goal by March.
The GIDS Are Alright
On Monday, Nasdaq began offering the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX). Thanks to a partnership with blockchain data company Brave New Coin, the two indices will provide real-time spot rate data quoted in US dollars and will update every 30 seconds. The quoted rates are based on the most liquid exchanges using a method independently audited against IOSCO principles. Likewise, the historical data will be available dating back to 2010 for bitcoin and 2014 for ethereum.
While price data and similar tools have been readily available for years, the new indices should spread awareness and increase adoption. They will promote visibility and get bitcoin and ethereum prices in front of new sets of eyes. That being said, the indices aren’t for everyone. The price data will be made available through Nasdaq’s Global Index Data Service. Firms must be pre-approved to access GIDS, and like most things, it comes with a price.
The Other News We’re Following
- Ethereum hit its highest daily transaction volume in over a year according to LongHash
- The FBI wants to speak with those impacted by the Bitconnect crash
- A new leaked video purportedly shows a tutorial for using the Samsung S10 blockchain wallet
5billion dollar fine issued to UBS for laundering funds in French fraud case
“Whoever owns the early BTC deserves a Nobel prize in delayed gratification.”
— Elon Musk
