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Digital asset trading platform Bitfinex is offering a reward to persons that connect the exchange with the hackers responsible for the unauthorised transfer of almost 120,000 bitcoins from the exchange in August 2016. The hackers themselves will also be rewarded for returning the stolen property. A total reward pot of approximately USD400 million is available as part of the exchange’s efforts to reclaim the stolen property.
After the identity of the hackers is confirmed, the persons establishing contact with the hackers will be rewarded. The hackers will be paid upon return of the stolen bitcoin. Those who put Bitfinex in contact
GAM Systematic, the Cambridge-based quantitative investment management unit of Swiss-headquartered global asset manager GAM, saw its assets tumble in the first half of 2020 as investors withdrew CHF900 million (USD981.3 million).
Hedge fund short sellers took a hefty beating in what proved to be a bruising July, losing some USD6 billion across a range of strong-performing technology stocks, including more than USD4 billion from Tesla shorts alone.
New data from Ortex Analytics, a London-based equities research and analytics outfit, indicates hedge funds who went short on Amazon, Apple, Alphabet, and AMD along with Tesla suffered large losses as their bearish bets turned sour amid the stock market’s impressive Q2 rally.
But Peter Hillerberg, Ortex’s co-founder, believes the post-Covid market landscape of higher share prices and elevated volatility may again offer short
Pictet Asset Management, the investment management arm of the Geneva-headquartered wealth management giant Pictet Group, has unveiled a new market neutral global equity hedge fund which trades liquid US and European stocks, with a low correlation to broader equity markets.
Stephen Meli has been appointed as a partner in Foley & Lardner’s Business Law Department and Fund Formation & Investment Management Practice Group in Boston. Read the full story at Private Equity Wire…
Digital asset exchange provider Binance has launched COIN- and USDT-margined product categories for its range of perpetual and quarterly futures to highlight the use of bitcoin and altcoins as the currencies for settlement. The new categorisation puts cryptocurrencies on more equal footing with fiat, and reflects the increased interest in futures margined and settled with bitcoin and altcoins.
Users on Binance Futures can now select futures contracts as follow:
• COIN-margined Futures (displayed as “COIN-Ⓜ” on the web and mobile app)
Quarterly Futures
• Perpetual Futures (to be launched Q3 2020)
• USDT-margined Futures (displayed as “USDT-Ⓜ” on the web and
Blockchain company Huobi Group has established Huobi DeFi Labs, a platform for DeFi (Decentralised Finance) research, investment, and incubation and eco system building in DeFi space. It aims to build a better financial system in collaborations with the global crypto and DeFi community for the future.
“Huobi as the leading crypto financial services provider in Asia and worldwide, our mission is to provide the best crypto financial products and services to our users regardless it is CeFi or DeFi,” says Leon Li, founder and CEO of Huobi Group. “We are excited to join as a part of the global DeFi ecosystem
Enigma Securities, a technology-driven financial institution dedicated to corporate client solutions for cryptoassets, has partnered with Iconic Holding’s Multi-Manager Platform. Applying its expertise in capital markets, Enigma will provide liquidity, provision of credit, and capital introduction for the Multi-Manager Platform. In addition, Enigma will advise Iconic Holding during the manager selection process and provide ongoing execution and risk management services.
Iconic’s Multi-Manager platform enables up-and-coming crypto asset managers to leverage its operational infrastructure and investor network to launch an investment fund. Managers can optimise capital utilisation across numerous banking and financing relationships and rely on infrastructure assured to meet institutional grade
Alberto Gallo, head of macro strategies at multi-strategy credit and equities hedge fund Algebris Investments, has compared investors in government bonds to “boiling frogs” who risk seeing their returns “wiped out” from future inflation rises.
As government bonds increasingly offer “return-free risk”, investors should look to alternatives, said Gallo, who is also portfolio manager of Algebris’ Global Credit Opportunities Fund.
Speaking on a recent Algebris Investments’ podcast, he noted that of the EUR70 trillion of sovereign and corporate debt in the world, just one-tenth yields more than 3 per cent.
In contrast, he pointed to a mix of credit, particularly
Prime Capital AG, an independent asset manager and financial services provider that manages EUR17.2bn across multiple funds, has launched the Liquid Alternative Credit Fund.This new fund of funds will be pooling alternative credit strategies like trade finance and real estate bridge financing. It will invest in 15 to 20 underlying funds which are diversified globally with a target split of around 1/3 in North America, Europe and Rest-of-the-World, respectively.
“These strategies provide – similar to hedge funds – advantageous liquidity in contrast to other forms of private debt. They have strong levels of tangible collateral (eg ~LTV of up to
