In this edition of The Daily we cover a few examples of the evolving institutional crypto investment world. Circle has completed an acquisition of a regulated broker, cryptocurrency prime brokerage Tagomi closed a $12 million funding round, and charting portal Tradingview added a crypto index.
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Circle Closes Acquisition, Seeks $250M
Circle, the Goldman Sachs-backed company that acquired Poloniex exchange last year, has announced that following regulatory approval by the American Financial Industry Regulatory Authority (FINRA), it’s completed the acquisition of U.S. equity crowdfunding platform and registered broker-dealer Seedinvest. This is meant to enable the firm to explore opportunities for the tokenization of traditional forms of financial contracts such as equities and other securities. The companies say that Seedinvest will continue to operate as normal, but with additional support from Circle.
Besides this latest acquisition, Circle has made headlines recently for reportedly seeking to raise an extra $250 million in equity and debt. The company has already raised $246 million from investors to date, and only last May completed a $110 million Series E funding round that included investors such as Bitmain Technologies, Blockchain Capital, Pantera, Digital Currency Group and other venture firms.
Tagomi Completes $12M Funding Round
Electronic digital assets prime brokerage Tagomi has announced a new round of capital investment with participation from Paradigm, a Yale-backed fund, Pantera and others. The latest capital infusion brings the total funding raised by the crypto prime broker to $28 million. Tagomi plans use the money from this financing round to grow operations to support and scale in response to client demand.
“We are excited to partner with investors who have experienced first-hand, the frustrations around the lack of infrastructure, and work toward our shared vision of building next generation robust trading technology, so that clients can focus solely on developing their strategies.” said Greg Tusar, joint CEO of Tagomi, and former Global Head of Electronic Trading at Goldman Sachs.
The brokerage offers three product lines: a portfolio management interface for longer-term investors, an advanced trading terminal for active traders, and an API for programmatic trading. Its clients include individual investors, family offices, digital asset funds, traditional equity and FX traders and venture capital funds.
Tradingview Lists Huobi’s Crypto Index
Huobi’s crypto-based index has been added to the financial trading charts and analysis platform Tradingview. HB10 is a weighted fund consisting of the nine biggest cryptocurrencies by trading volume plus Huobi’s native token, which launched last year as an ETF style instrument. In addition to adding the index, all of of Huobi’s crypto trading pairs have been added to the charting portal, and as new coins and pairs are added to the exchange they will also appear on Tradingview.
“As a go-to site for high-volume and API traders as well as the retail commodity, forex, and of course crypto trading community around the world, we feel TradingView is a perfect fit for HB10,” said Livio Weng, Huobi Global CEO. “We’re both pleased and honored to have ours be the first crypto fund of its kind listed there.”
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