High-leverage crypto-trading venue BitMEX is fermenting plans to invest in a range of crypto-related project, according to sources trusted by The Block. The investments, say its report, will be through a 'Ventures' arm of the firm to be lead by relatively new recruit Kumar Dandapani.
Cryptoasset management tool Blockfolio has already listed BitMEX as putting money towards its multi-million dollar funding round earlier in the year, and sources told The Block's team that the new company also intended to plough cash into FRST, a cryptocurrency data concern - currently in Beta - that allows users to track wallets; identify and classify accounts, wallets and clusters; flag scam trading, wash activity, and hacked crypto, as well as a range of other trading analytics tasks.
Venture Capitalists have ploughed a prodigious amount of money into crypto and blockchain projects during 2019, with many large players in the crypto space itself getting in on the act too. These include Ripple, Binance, Coinbase, Global Blockchain Technology, alongside the tech giants such as Facebook and Alphabet also appearing to be incubating projects. Therefore it's no surprise that BitMEX wants in on the act too.
Some of the positive publicity of such a venture - if you pardon the pun - would not play badly for the exchange among the wider crypto community, you suspect. The exchange has been side-eyed by some big names in the crypto world as promoting increased speculation on 'shorting' Bitcoin and other crypto - essentially betting their prices will fall. It's team, and CEO Alex Hayes, has also been notoriously outspoken - via its blog - on a number of subjects, most notably Ethereum.
11/09/2018 / 19:17:39 Source: cryptonewsreview