14.07.2024

One of the most successful hedge fund managers has invested in the cryptocurrency market

Billionaire and one of the highest paid hedge fund managers, Alan Howard, spearheaded an investment round at the Komainu cryptocurrency depository. The team of the depository announced this on its official website.

In total, the depository was able to attract $ 25 million. In addition to Howard, Novogratz’s Galaxy Digital bank, NOIA Capital fund and Nomura Research Institute also invested in the company.

According to Komainu, the funds will allow the company to expand its solution to support additional cryptocurrencies.

Transfer of capital to the cryptocurrency market

Alan Howard, one of the top 40 highest paid managers in 2013, has long been gaining a foothold in the cryptocurrency market. Howard made «substantial personal investments in cryptocurrencies» back in 2017, according to Bloomberg. However, how much Howard invested in the crypto market remains unknown.

In May, Howard’s hedge fund Brevan Howard Asset Management was able to deliver 100% returns to investors despite the pandemic crisis. The fund has become one of the leaders in terms of payback after a couple of years of «mediocre results», Bloomberg reported.

Whether the fund’s profit is related to Howard’s personal impulses in the cryptocurrency market is also unknown.

Howard’s loudest investment, however, was his support for the One River Digital Asset Management Fund. At the end of November 2020, the fund invested $ 600 million in cryptocurrencies.According to the founder of the fund, Eric Peters, One River Digital Asset Management planned to accumulate up to $ 1 billion in bitcoin and ether at the beginning of 2021.

In February 2021, Howard also took part in the investment round of the Bitcoin payment service Bottlepay, which raised $ 15.5 million.

The oldest bank in Germany adds services for the purchase and storage of cryptocurrency

German private bank headquartered in Hamburg Donner Reuschel has announced plans to introduce crypto services, starting with the addition of buying and storing digital currency.

Donner Reuschel, with operations throughout Germany, is one of the oldest private banks in Germany, founded in 1798. The assets under his management are worth approximately € 9 billion ($ 10.7 billion).

The representative of the organization explained that this decision was dictated by the high demand for services for the storage of digital assets. In this regard, the bank began to consult with DLC Distributed Ledger Consulting GmbH.

Currently, the exact date is not indicated, but the bank says it will add them «as soon as possible.»

“We have been observing the digital asset market for a long time and are convinced of the potential of blockchain technology, including in classic securities transactions ,” said Markus Witt, a spokesman for the bank’s board.

In addition to purchasing and storage services, it is planned to integrate asset tokenization, which is considered one of the most sought-after blockchain-based services in the mainstream financial industry.

“Blockchain technology will bring about the greatest structural changes in the financial industry that I have seen in my 20-year banking career ,” added Witt.

Now, many reputable public and private banks around the world have introduced crypto services due to demand from customers. Most recently, Swiss private bank Bordier Cie entered the cryptocurrency arena by offering services to buy, store and trade leading digital currencies.

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