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Sovryn, a bitcoin-based decentralised finance (DeFi) protocol, has agreed a USD9 million investment from a consortium of partners, vetted for their strategic contribution and led by Anthony Pompliano’s Pomp Investments, after a proposal was formally accepted by the Sovryn community.
Tuesday 13 April also sees the first day of Sovryn (SOV) trading, exclusively on the Sovryn platform, before it becomes available on other exchanges.
Of the groups that applied to invest, those which were vetted and accepted include representation by leading exchanges such as Cadenza (a BitMEX affiliated venture fund) and AscendEX (BitMax) and Gate.io as well as blockchain
Tether tokens (USDt) has more than doubled this year to a market capitalisation of USD45 billion.
Tether Operations says the ‘Tetherisation’ of trading is continuing at a pace with many digital token spot exchanges denominating pairs in USDt rather than bitcoin (BTC). Meanwhile, USDt is increasingly being used in remittances and innovative projects in the digital token ecosystem, including those in the nascent space of decentralised finance (DeFi).
USDt has recently been hitting about 100x USD Coin (USDC) in daily trading volume, according to data from CoinGecko, a crypto data service.
“This is setting out to be a landmark year
Digital asset investment products saw inflows of USD83 million last week, according to the the latest Digital Asset Fund Flows report from CoinShares’ James Butterfill.
Last week was also he first week of no outflows across providers since mid-February 2021.
Digital asset investment products saw inflows of USD55 million and USD22 million into bitcoin and ether respectively, while multi-asset digital investment products saw inflows of USD8 million, the largest since late February.
In recent weeks daily trading turnover for bitcoin has declined 33 per cent to USD7.7 bilion. There has also been a similar drop in digital asset investment products
Hedge funds are growing in confidence following a positive start to the year, according to the Alternative Investment Management Association’s latest quarterly Hedge Fund Confidence Index.
Tyr Capital Partners, the team behind crypto arbitrage hedge fund, Tyr Capital Arbitrage SP, is setting up an actively managed long-only fund to launch next year, following increasing demand from investors.
Read the full story at Institutional Asset Manager…
Last year proved to be a strong litmus test for the hedge fund industry, with a slew of strategies able to post solid returns in a market that witnessed an incredible trough to peak recovery between Q2 and Q4.
Market neutral long/short hedge funds have been boosted by the recent bounce in Momentum stocks – but Lyxor Asset Management strategists believe the strategy is vulnerable to sudden factor rotations over the longer-term.
The performance of Momentum stocks has stabilised in recent weeks, following the sharp correction in November, in turn aiding certain hedge fund strategies – such as market neutral long/short – which have a Momentum bias. As Value names have maintained their recovery, and are starting to be shown in the Momentum risk factor, Lyxor said near-term prospects for market neutral long/short hedge funds have “marginally improved”.
“The
4OTC, a FinTech provider of connectivity services for Digital Assets and FX, has announced that Russell Fernandes and Mark Price have joined Alexis Atkinson as Co-Founders.
TP ICAP Group (TP ICAP), a diversified global markets infrastructure and data solutions provider, has Parameta Solutions, the new identity for its data and analytics and post-trade offerings.
The business provides clients with unbiased OTC content and proprietary data, in-depth insights across price discovery, risk management, benchmark and indices and pre and post-trade analytics. Its nascent post-trade solutions offering will help market participants control counterparty and regulatory risks through a growing range of tools that manage balance sheet exposure, as well as compression and optimisation services.
Nicolas Breteau, CEO of TP ICAP Group, says: “The Parameta Solutions business is
The US Securities and Exchange Commission (SEC) has announced that Chief of the Office of the Whistleblower Jane Norberg will be stepping down this month after almost a decade of overseeing one of the nation’s most successful whistleblower programs.
Read the full story at Institutional Asset Manager…
