Wall Street comes to Bitcoin: $ 140 million transaction


It was learned that a Bitcoin investment fund on Wall Street raised $ 140 million before the block prize halving. The news comes after the famous billionaire Paul Tudor Jones announced that he recently started buying Bitcoin.

It turned out that a New York central company raised $ 140 million with the participation of 3 accredited investors in a previously unknown Bitcoin fund before halving.

According to the news that Forbes is based on SEC documents, the fund belonging to New York Digital Investment Group (NYDIG) was named as NYDIG Bitcoin Return Increasing Fund LP and started sales as of May 5 last week. So, just a week before Bitcoin’s block reward halving took place.

NYDIG had acquired BitLincense, a mandatory license for crypto companies operating in New York in 2018, and showed the fund in exemption from securities laws under D regulation.

Little is known about the fund in question, but a former NYDIG investment firm, named “Bitcoin Strategy Fund,” ties Ben Lawsky, a governor of New York Governor Andrew Cuomo, who was also on the Cyber ​​Security Advisory Board and prepared BitLicense. He received consultancy from the $ 15 billion Stone Ridge Asset Management LLC.

Ben Lawsky, former chief inspector of Finance in New York State, appears to be registered as Head of Regulation Affairs at Stone Ridge. Lawsky, who took office in New York in May 2011, came to the agenda with a total of $ 6 billion in fines he had cut to financial institutions, and his name was commemorated with the nickname “The Sheriff of Wall Street.”

Such a fund is not the first for NYDIG. The company raised $ 31 million with another fund in October 2018. This was called the “Corporate Digital Asset Fund”, but it was not specified which digital assets included.

Good news one after another for Bitcoin from Wall Street
Bitcoin fund news comes amid a series of positive developments. According to the news in the Wall Street Journal; JP Morgan Coinbase and Gemini opened their first bank account for crypto exchanges. Last week, investment company 3iQ announced that it raised $ 48 million for a product traded on the Toronto Stock Exchange.

Finally, the famous macro investor Paul Tudor Jones said he had recently started buying Bitcoin. Jones, who is believed to have a fortune of $ 5 billion, announced that he invested almost 2 percent of his assets in Bitcoin.


Please enter your comment!
Please enter your name here