Arrington Crypto Fund Buys ByteSize, Secures $30M Commitment
- Both crypto funds have taken a special interest in the blockchain space over the years.
Michael Arrington, a prominent crypto investor and founder of online portal TechCrunch, announced that his Arrington XRP Capital hedge fund secured an additional $30 million commitment in December 2018 from undisclosed existing partners.
Arrington’s $100 million startup has also acquired ByteSize Capital, an Australian research consortium and private crypto fund. ByteSize Capital’s founders Ninor Mansor and Ninos Mansor have joined Arrington XRP Capital as partners, alongside founding partners Heather Harde and Michael Arrington.
ByteSize Capital has taken a special interest in the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term space over the years and has made investments into projects including Algorand, CertiK, and Arweave. As part of the merger, Arrington XRP Capital will onboard ByteSize’s proprietary investing suite.
In turn, Arrington has considerable experience with crypto-related investments. In November 2017, he launched the $100 million hedge fund denominated in Ripple’s XRP, which is described as “a digital asset management firm in blockchain-based capital markets.” Also, he has invested in various blockchain projects, including decentralized internet browser developer Blockstack.
However, in March 2018, the entrepreneur got caught in a large-scale investigation the SEC initiated with the aim to prevent illegal security sales and fraudulent activities in the Initial Coin Offering (ICO) Initial Coin Offering (ICO) An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Acco An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Acco Read this Term) market.
Crypto trading to balance VC investments
On being asked his view on ByteSize acquisition and venture capitalists entering the cryptocurrency space, Arrington told CoinDesk that the deal allows his firm to implement business strategies designed for the bear market’s uncertainty, which would involve crypto trading.
“Trading should improve the fund’s performance in both bear and bull markets, but Arrington emphasized that venture investing will remain a major emphasis for the fund,” he said.
Arrington added the ByteSize team not only possesses the necessary expertise to conduct trading but also proprietary market analysis tools that will come over with the acquisition.
“We didn’t have the DNA to do trading, but now we do with these guys,” Arrington concluded.
Michael Arrington, a prominent crypto investor and founder of online portal TechCrunch, announced that his Arrington XRP Capital hedge fund secured an additional $30 million commitment in December 2018 from undisclosed existing partners.
Arrington’s $100 million startup has also acquired ByteSize Capital, an Australian research consortium and private crypto fund. ByteSize Capital’s founders Ninor Mansor and Ninos Mansor have joined Arrington XRP Capital as partners, alongside founding partners Heather Harde and Michael Arrington.
ByteSize Capital has taken a special interest in the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term space over the years and has made investments into projects including Algorand, CertiK, and Arweave. As part of the merger, Arrington XRP Capital will onboard ByteSize’s proprietary investing suite.
In turn, Arrington has considerable experience with crypto-related investments. In November 2017, he launched the $100 million hedge fund denominated in Ripple’s XRP, which is described as “a digital asset management firm in blockchain-based capital markets.” Also, he has invested in various blockchain projects, including decentralized internet browser developer Blockstack.
However, in March 2018, the entrepreneur got caught in a large-scale investigation the SEC initiated with the aim to prevent illegal security sales and fraudulent activities in the Initial Coin Offering (ICO) Initial Coin Offering (ICO) An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Acco An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Acco Read this Term) market.
Crypto trading to balance VC investments
On being asked his view on ByteSize acquisition and venture capitalists entering the cryptocurrency space, Arrington told CoinDesk that the deal allows his firm to implement business strategies designed for the bear market’s uncertainty, which would involve crypto trading.
“Trading should improve the fund’s performance in both bear and bull markets, but Arrington emphasized that venture investing will remain a major emphasis for the fund,” he said.
Arrington added the ByteSize team not only possesses the necessary expertise to conduct trading but also proprietary market analysis tools that will come over with the acquisition.
“We didn’t have the DNA to do trading, but now we do with these guys,” Arrington concluded.