Crypto News 

First Ever US Pension Funds to Invest in Bitcoin

“A branch of the investments managing firm Morgan Creek Capital Management, Morgan Creek Digital surpassed its original goal of 25 Million USD for the fund” reports livebitcoinnews.com. Morgan Creek Digital is taking things a notch higher with a claim that they are probably the first US pension fund to ever pour money in the digital currency business.There are three distinct welfare programs conducted by the Fairfax County Retirement Systems, 2-thirds of them investing in the Morgan Creek Digital fund, according to Pompliano.Fairfax County, Va., has two pension plans that are…

Read More
News Stocks 

Principal Financial held takeover talks with fund firm WisdomTree last year, and it shows how ETFs are driving a wave of M&A

“ETF manager WisdomTree held sale talks with asset manager Principal Financial Group late-last year, sources tell Business Insider” writes Bradley Saacks for businessinsider.com. The firm has partnered with distribution platforms like TD Ameritrade to offer model portfolios made up of WisdomTree and other asset managers’ ETFs.The industry is suffering from fee pressures, outflows, and increased market volatility, which has triggered some asset managers to consider striking deals.Shares of WisdomTree cratered in the last 12 months, falling 40% amid a broader sell-off among asset managers. Source: businessinsider.com

Read More
Markets News Stocks 

Investors are hoarding their biggest piles of cash since the financial crisis — and Bank of America has a surprising take on what that means for the market’s future

“In February, fund managers reported the smallest overweight in equities since September 2016” writes Akin Oyedele for businessinsider.com. His conclusion is derived from the fund manager survey’s “cash rule.”. The BAML survey included fund managers who oversee a combined $515 billion in assets.According to Bank of America Merrill Lynch’s fund manager survey for February, the rotation into cash lifted traders’ overweight position to its highest level since the Great Recession in January 2009.After all, more cash means that investors have more dry powder to deploy when they spot an attractive…

Read More
Crypto News 

Two US Pensions Lead $40 Million Round in Morgan Creek’s New Blockchain Fund

“United States digital asset firm Morgan Creek Digital has secured $40 million in funding from investors that include two major pension funds, Bloomberg reported Feb. 12, citing a statement from the company” writes William Suberg for cointelegraph.com. The new venture capital fund is called the Morgan Creek Blockchain Opportunities Fund and is reportedly focused on investing in the digital asset industry, according to The Next Web.Morgan Creek Digital, which launched its Digital Asset Index Fund in August last year, sealed the funding from two of the three benefit plans from…

Read More
News 

Mauritius Regulators to Approve Digital Asset Custodian Licensing Framework

“The Mauritanian Financial Services Commission (FSC) is establishing a regulatory framework for digital asset custodian services, according to an official announcement published on Feb. 8” writes Adrian Zmudzinski for cointelegraph.com. The new regulation will be effective as of March 1 and will require custodian services “to comply with the applicable framework for [Anti Money Laundering] AML/CFT [combat financing terrorism] in line with international best practices.“ Harvesh Seegolam, the Chief Executive of the FSC said: According to the statement, this framework has been developed following consultations with the Organisation for Economic…

Read More
Crypto News 

Huobi Reports 100 Percent Increase in Trading Volumes in 2018 Over 2017

“Major global crypto exchange Huobi has reported a 100 percent growth in trading volume in 2018 over the 2017, according to a press release shared with Cointelegraph on Feb. 7” writes Helen Partz for cointelegraph.com. Launched in July 2018, Huobi Cloud is a platform that allows users to build their own digital asset services, mostly for establishing OTC and digital asset exchanges.The crypto exchange also acquired a Distributed Ledger Technology (DLT) license from Gibraltar to provide compliant blockchain asset trading in Europe. However, the company reportedly stressed that it will…

Read More
Crypto News 

Investing App Invstr Launches Cryptocurrency Index

“Investing app Invstr has launched a cryptocurrency index for their platform, allowing users to follow cryptocurrency markets, according to a press release on Feb 6” writes Miranda Karanfili for cointelegraph.com. Invstr’s crypto index will allow users to to track price fluctuations of the crypto market and make price comparisons of specific cryptocurrency pairs.The index will also include a range of digital asset categories, that includes asset, payment and utility tokens.The Invstr Crypto Index addresses this by using weightings that optimise risk-reward based on the volatility of the constituent assets.” As…

Read More
Crypto News 

Desktop Crypto Asset Manager Ledger Live Launches Mobile App Version

“Dubbed Ledger Live, the app previously available for desktop is now available for Android and iOS mobile devices, the company reports” writes William Suberg for cointelegraph.com. French cryptocurrency hardware wallet manufacturer Ledger has released a dedicated mobile app for some of its products, the company confirmed in a blog post Jan. 28.According to the blog post, the app allows users of Ledger Nano X wallets to use their wallet without the need for a cable via their mobile device and a Bluetooth connection.Trezor is currently more geared to desktop use,…

Read More
News Stocks 

GE falls as JPMorgan gives Wabtec deal a closer look and doesn’t like what it sees

“That will leave Wabtec shareholders owning about a 50.8% stake of Wabtec, compared with 49.9% under previous terms; GE shareholders will own some 24.3%” writes Teresa Rivas for marketwatch.com. They will spin off a portion of GE Transportation to GE shareholders and then immediately merge GE Transportation into a subsidiary of Wabtec.General Electric ’s (ticker: GE) stock fell Monday after JPMorgan reiterated caution on the shares.The newly changed Wabtec deal “sends a stark message around bringing more cash to go to liabilities…and less ‘asset value’ for shareholders,” Tusa says. Source: marketwatch.com

Read More