Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: densuj on November 09, 2018, 05:35:32 PM
-
BitMEX has launched a venture-capital unit to identify potential crypto firms to invest in.
The new branch is led by Kumar Dandapani, global head of BitMEX Ventures, who graduated from the University of Pennsylvania and joined the firm in 2018. Previously, Dandapani was a partner at Nth-Degree Analytics, a quant research, and development firm.
Maxim Wheatley is head of venture development who has joined the company in September. He previously worked at TTEC, a technology firm based in Colorado.
Already, one of its portfolio companies has announced BitMEX as a backer.
Blockfolio, which announced a $11.5M Series A financing round in October, noted BitMEX as an investor. BitMEX was also set to participate in a fundraising round for FRST, a cryptocurrency data technology company.
-
The Bitmex Insurance Fund now holds 18,851 BTC, following the addition of 1,452,6 BTC on Nov. 25. The significant increase pushed the amount of BTC held by the fund from 16,713.4 up to 18,166.
According to Bitmex, the insurance fund is used to avoid auto-deleveraging traders’ positions. It “grows from liquidations that were able to be executed in the market at a price better than the bankruptcy price of that particular position.”
The significant increase in the fund’s holdings was noted on Twitter. “Bull case for #Bitcoin: Soon most BTC will be locked up in the @BitMEXdotcom insurance fund,” WhalePanda tweeted. At the time of writing, the fund’s BTC holdings had increased by 685 since Nov. 25.