Sun, January 29, 2023

Cryptocurrency Exchange Bitfinex and Hedge Fund

Cryptocurrency hedge fund and Bitfinex

The Crypto industry is developing, and as crypto-related companies continue to expand their services. On Monday, the major cryptocurrency exchange and partner firm of stablecoin Tether Bitfinex announced that it listed Fulgur Alpha.

Bahamas-based crypto hedge fund Fulgur Alpha is currently worth $280 million. Based on the information provided by the Bitfinex, the hedge fund is only accessible to professional investors. Also, the fund aims to increase its assets under management this year.

It is worth mentioning that, Fulgur Alphas’s assets are held at licensed crypto-asset custodian Delchain Limited.

According to the executive head of operations at Delchain Bruno Macchialli, the fund is set up in a traditional way that features risk diversification.

Interestingly, the first month of this year was the best January for cryptocurrency hedge funds. In January 2020, hedge funds experienced a 21.15% return.

However, the same funds shed 1.31% in February. Moreover, this month cryptocurrency hedge funds most likely will experience significant losses. However, ongoing coronavirus epidemic created many problems for the markets.

In 2019, the hedge fund of famous investor Bill Miller saw more than 40% growth. One of the main factors was Bitcoin.

Cryptocurrency regulations in ZimbabweCrypto regulations in Zimbabwe

Crypto regulations and how to implement such regulations are very important topics for the crypto community.

The deputy director for financial markets and national payment systems at the Reserve Bank of Zimbabwe made a comment about this issue. Moreover, Josephat Mutepfa stated the bank is working on a regulatory framework.

The purpose of the regulatory sandbox is to help the bank to decide whether a particular company deserves a license or not.

Unfortunately, the relationship between the crypto industry and Zimbabwe was far from being ideal. In 2018, the Reserve Bank of Zimbabwe issued a complete ban on cryptocurrencies. Hopefully, local authorities have the opportunity to change their attitude towards the crypto industry. Furthermore, they should make it easier for crypto-related companies to operate in the country.

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