- BitMEX Ventures has notably invested in the Blockfolio application, and is expected to participate in the roundtable of FRST , a company specializing in cryptocurrency analysis.
- Other trading platforms have already launched their venture capital subsidiary, including Coinbase, Huobi and Binance.
The exchange platform Seychellois BitMEX which offers traders to invest on Bitcoin, and Ether Ether Classic with leverage, launched a branch of venture capital that aims to capitalize on the crypto-startups promising .
This new filale, which has not previously been made public, is led by Kumar Dandapani . In particular, he is accompanied by Maxim Wheatley, who is responsible for investment management and seed capital partnership activities.
For the moment, we know that BitMEX had bet last October on the Blockfolio application , participating in his round of table Series A to 11.5 million dollars. According to the site TheBlock , citing a source close to the case, BitMEX (Bitcoin Cash ABC website) would also be about to enter the capital of FRST , a company specializing in the crypto-data analysis.
Coinbase Ventures, Huobi Labs and Binance Labs
The BitMEx initiative is far from surprising, as many other competing platforms have already decided to invest in young crypto-sphere growth through a dedicated entity.
This is particularly the case Coinbase , who announced in April the launch of Coinbase Ventures , its branch specialized in venture capital. The California giant already has more than 20 companies in its portfolio.
Also exemplary Huobi Labs , a subsidiary of the exchange platform Huobi China . In June, the company announced the creation of a new investment fund dedicated exclusively to Chinese and South Korean crypto startups. The site CoinDesk has it that up to that title a total of 93 million, in partnership with other Asian companies.
Binance , the largest exchange crypto platform in the world in terms of volume, had its part announced in May the creation of Binance Labs , an investment fund with a budget of one billion dollars. This subsidiary was involved in the round to 30 million MobileCoin , a project focused on anonymity that aims to play an important role in the adoption of cryptocurrencies by the general public.
Bakkt (ICE): What will be its impact on crypto-markets?
Jake Chervinsky, a lawyer specializing in securities litigation, spoke on Tuesday of the imminent entry of Bakkt on crypto-markets.
If he believes that the arrival of this startup owned by ICE – the owner of the New York Stock Exchange (NYSE) – could have a positive impact Bitcoin (Bitcoin Cash ABC website), he believes it is still too early to comment on the issue. In recent weeks, the arrival of Bakkt – announced last August – is seen by many as what could be the catalyst for the next higher Bitcoin and key crypto-currencies .
In the minds of many observers, the launch of Bakkt has become the narrative describing when and how we will reach the end of the downward market trend. It will play the same role as ETFs on Bitcoin as a trusted investment vehicle that would likely attract institutional money into this space, but without obtaining approval from the Securities and Exchange. Commission [the US Stock Exchange Constable], says Chervinsky.
The arrival of Bakkt, an important news for crypto-markets.
As recently said its CEO Kelly Loeffler , Bakkt is a platform that should enable the institutions, merchants and consumers to share, store and spend crypto-currencies .
Mr. Chervinsky recalls that as the operator of the NYSE – the world’s largest stock market – ICE claims decades of experience in the traditional finance industry.
The lawyer also says that the exchange will be able to introduce futures on the Bitcoin without obtaining specific authorization from the Commodities and Futures Trading Commission (CFTC). It will be enough, in theory, to file a self-certifying application until one business day before the establishment of its futures market. However, he explains that it might have to negotiate this introduction with the financial regulator.
It notes that, unlike the Bitcoin futures offered since December 2017 by the US stock exchanges CME and CBOE , Bakkt will provide real Bitcoins to buyers of BTC futures contracts . This could have an impact on the supply available on the spot markets, and therefore on the price of the first digital currency.