‘Everything’s on sale’: Reddit founder, Galaxy and Genesis execs raise big money
776’s fund is called “Kryptos” and is set to capitalize on the current bear market when it launches in October. Reddit co-founder Alexis Ohanian’s venture capital (VC) firm Seven Seven Six (776) is looking to raise a crypto investment fund worth $177.6 million, while current and former executives from Galaxy Digital and Genesis are raising a $500 million fund of their own. 776’s crypto play According to an Aug. 29 report from The Information, 776’s fund “Kryptos” will launch in October to capitalize on the current bear market. It emphasized there are currently some bargain bin token....
Related News
Galaxy Digital Holdings Ltd. has revealed the firm is looking to raise $500 million in an exchangeable senior note offering. The investment company, founded by billionaire investor Mike Novogratz in January 2018, aims to use the funds to “accelerate growth initiatives across its business lines.”
Galaxy Reveals Exchangeable Senior Note Offering
The investment firm Galaxy Digital (TSX: GLXY) aims to raise $500 million via an exchangeable senior note offering. The convertible debt will be used to continue expanding the business. Galaxy details that the private....
On Tuesday, the bitcoin mining firm Genesis Digital Assets announced the firm raised $431 million from strategic investors. The mining company Genesis detailed that Paradigm led the multi-million-dollar funding round and one of the firm’s co-founders has joined Genesis’s board of directors.
Genesis Digital Assets to Bolster Bitcoin Mining Operations in the US and Nordics
The industrial-scale bitcoin mining company, Genesis Digital Assets, revealed the firm has raised $431 million in a recent financing round. The funding was led by the company Paradigm but also....
Charles Hoskinson has drawn a firm line under one of Cardano’s longest-running controversies, declaring that the allocation of Genesis ADA to Input Output (IO) and EMURGO was private profit for early risk, not a community-controlled pool to be repurposed for new initiatives. Cardano Founder Closes Door On Genesis ADA Criticism In a November 30 livestream […]
Bitcoin’s technical setup leans toward additional downside, leading some traders to exit altcoins which are struggling at overhead resistance levels. Bitcoin (BTC) price has been trying to change course while the S&P 500 is still giving up gains on a daily basis. Even though the United States equities markets have been grinding lower since Aug. 26, Bitcoin has managed to hold on to the $20,000 mark. However, investor interest seems to be shifting away from Bitcoin. That has led to a reduction in assets under management (AUM) for Bitcoin investment products, which dropped 7.16% in August to....
Galaxy Digital's institutional bitcoin fund raised an average of $1.6 million from its 33 unnamed investors.