Alan Howard, a billionaire hedge fund manager and long-time supporter of the crypto business, has invested in two digital asset firms.
With new investments in two digital asset businesses, billionaire hedge fund manager Alan Howard encourages the Bitcoin business.
Brevan Howard, the co-founder of extensive asset management BlackRock, spearheaded a $25 million expansion round for Copper. Co, a London-based crypto services provider. The latest investment follows a $50 million Series B capital round spearheaded by organizations including Dawn Capital and Target Global, disclosed on Friday.
Copper’s experience in allowing established financial organizations to profit from blockchain technology and cryptocurrencies will be bolstered by the new cash. According to the company, the increased money demonstrates the traditional banking sector’s rising interest in cryptocurrency.
Another $12 million financings for Asian crypto investing platform Kikitrade, supported by Howard, was revealed on Thursday. The additional funding will develop the startup’s operations and compliance in Australia, Hong Kong, Taiwan, and Southeast Asia.
Berkshire Hathaway invests $500 million in a digital bank in Brazil.
Howard has previously invested in key crypto companies such as CoinShares, European digital asset management, Block.one, a blockchain and software development firm, and Elwood, an institutional crypto trading platform.
Howard also has a 25% investment in One River Digital Asset Management, a hedge fund located in the United States that bought $600 million in Bitcoin (BTC) and Ether (ETH) last year. Howard led a $25 million fundraising round for Komainu, a digital asset custody services provider founded by global bank Nomura in collaboration with crypto wallet startup Ledger and CoinShares earlier this year.
China will provide $6.2 million in digital money to Beijing residents.
As previously reported, China will hold a lottery to distribute 40 million renminbi ($6.2 million) in digital money to Beijing residents. According to the Beijing Local Financial Supervision and Administration Bureau, residents of the Chinese capital can enter the lottery via two banking apps to win one of 200,000 so-called red packets. China, the world’s second-largest economy, has yet to implement the digital yuan across the country. CBDCs are being studied in several different nations, including Japan, South Korea, and the United States.