Harvard, MIT, Stanford Invest in Crypto Funds
Not to be outdone by Yale, 3 other historical institutions have invested in cryptocurrency funds. Harvard, MIT, and Stanford (as well as Dartmouth and University of North Carolina) have invested “tens of millions” into cryptocurrency funds.
Looks like institutional money is coming sooner than later.
A move by endowments into funds that will directly bet on cryptocurrencies signals a major shift in investor sentiment toward the asset class, in the same way that institutions over the past decade became more willing to invest in private tech companies. Backing from such closely watched institutions could help validate cryptocurrencies, which are still considered too risky by many institutional investors.
– Jon Victor, The Information journalist
Gemini Lists Litecoin
The Winklevoss twins’ owned cryptocurrency exchange, Gemini had previously announced in a Tweet that it would be adding Litecoin to its trading platform. The day has come! The listing has officially been approved by the New York State Department of Financial Services.
Trading pairs include USD, Bitcoin, Ethereum, and ZCash.
Former White House economic advisor joins Blockchain startup
Former White House economic advisor, Gary Cohn, joins Spring Labs, a blockchain start up, as an advisor. Spring Labs uses blockchain to share credit data across banks. Spring Labs has reportedly raised $15 million in private funding.
The task of safely transferring consumer credit information has plagued companies such as Equifax, which was infamously hacked, unveiling the private information of 143 million Americans.
Liquid Sidechain Finally Live!
After years of development, Blockstream has finally released Bitcoin’s first sidechain. Sidechains are used to speed up blockchain transactions by using a hybrid technology that brings transactions off the main blockchain and then back on once completed. Initial users include 23 Bitcoin companies that Blockstream has partnered with including OKCoin, Korbit, and Coinone.
Built off of the live blockchain, Liquid will now be used to carry large volumes of transactions at a higher speed for several of Bitcoin’s largest companies.