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- Making Crypto tokens within reach of Investors
- Migrating Miners A Very Positive development
- Venture funds have faith in crypto startups
Digital asset manager and Bitcoin (BTC) ETF advocate Valkyrie Investments just completed a $10 million Series A funding round. The event once again brings to fore the fact that there is a growing interest in crypto-focused firms. Several investors from the crypto sector participated in the venture, and it also included some notable personalities like Litecoin founder Charlie Lee.
The list of prominent citizens also included former Major League Baseball pitcher CJ Wilson and Tron founder Justin Sun who was also one of the investors. The funding round also saw XBTO, BTC Media, UTXO Management, Consolidated Trading, and 10X Capital.
Widening Investor Access to Crypto Tokens
Valkyrie CEO Leah Wald announced that her company would ensure widening investor access to crypto tokens via a supervised and research-driven manner. Valkyrie will eventually provide best-in-class products to all kinds of investors.
Steven McClurg, Valkyrie’s chief investment officer, and CEO Leah Wald are great visionaries, according to Litecoin founder Charlie Lee. Lee added the duo is bringing new investment opportunities to market, and he is very happy to be a part of this journey.
Valkyrie is currently offering three crypto-focused funds, which include Bitcoin, Polkadot, and Algorand. Valkyrie has already applied with the United States Securities and Exchange Commission, or SEC, to list a Bitcoin exchange-traded fund. Strangely, the SEC has deferred its ruling on the proposed fund.
The latest investment round by Valkyrie once again reaffirms the faith venture funds have on crypto startups. The renewed interest in crypto startups comes when the flagship crypto-token, Bitcoin, faces its worst bearish phase, which saw a steep drop of 50%.
Valkyrie is based in Tennessee and was founded last year by World Bank experts Leah Wald and Steven McClurg, formerly Guggenheim Partners and Galaxy Digital. It offers a wide array of crypto assets, including bitcoin (BTC) and Polkadot (DOT).
Reports suggest that Valkyrie, which is flush with new financing, will develop its presence in Nashville. It will broaden its workforce in the research, trading, compliance, marketing, and sales arena. The funds will also be used to widen existing services and also expand its reach. If everything happens as planned, the firm expects to widen its presence in Asia.
Valkyrie’s CEO Discusses Crypto Volatility
Before starting the multi million Series A funding, CEO and co-founder Leah Wald appeared on Bloomberg Technology and talked about BTC and crypto volatility. BTC is going through the worst bearish phase and has seen its values tanking by more than 50%.
Migrating Miners A Very Positive Decision
Leah Wald was asked how the events in China are to affect Bitcoin trade and mining. China has initiated a slew of measures that has almost completely shut off Bitcoin mining from its territories. In earlier times, 90% of BTC mining was done in China.
The lure of cheap power and labor led to numerous mining hubs in North China. However, in recent times, the communist-ruled nation has come down heavily on the crypto trade, provoking the biggest crash in the value of crypto tokens.
Leah acknowledged that challenging times with the latest crackdown on Crypto mining had triggered a massive bearish response for Bitcoin.
However, she added that miners are moving into more favorable locales like Texas, Florida, and Wyoming. The real question Leah Wald said was, ‘How will the exercise affect the prices of Bitcoin when everything is back online? Leah Wald thinks that will be a very positive decision.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
