Alan Howard Owns 5.8% of German Crypto Asset Management Firm Iconic Holding (Coin Desk)
Alan Howard, the co-founder of macro hedge fund Brevan Howard, has invested in German crypto asset manager Iconic Holding, according to the shareholder list of the German Handelsregister. While declining to provide specifics, a spokesman for Howard said the billionaire investor considers the size of the investment to be “negligible.” While it is unknown what Howard considers “negligible,” how much the stake is currently worth or when he first invested in Iconic, the well-known financier owned around 5.8% of the company as of May, the filing says.
Rothschild-Backed RIT Co-Leads Funding for Crypto Platform Aspen Digital (Reuters)
LONDON (Reuters) – RIT Capital Partners, the investment trust founded by Jacob Rothschild, is co-leading a funding round for crypto investment platform Aspen Digital intended to finance the creation of an online platform that would give wealthy investors a single portal to manage crypto investments. RIT will lead the $8.8 million fundraising round for Hong Kong-based Aspen Digital, along with Liberty City Ventures, an early venture investor in the blockchain industry, Aspen said in a statement on Wednesday.
Hedge Fund Alphadyne Loses $1.5 Billion in Short Squeeze (Bloomberg)
Hedge fund Alphadyne Asset Management is one of the biggest casualties from a short squeeze in the global bond market, with its $12 billion macro trading strategy snared in a series of bad bets on rising interest rates. The investment firm is staring down losses of about $1.5 billion after its hedge funds plunged through July, according to people familiar with the matter. Its flagship Alphadyne International Fund lost about 10%. It also manages a leveraged version with about the same amount of assets.
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Bitcoin vs. Gold: Here’s What Billionaire Ray Dalio Thinks (CNBC)
For Ray Dalio, bitcoin is like a digital version of gold — but the billionaire clearly values one higher than the other. “If you put a gun to my head, and you said, ‘I can only have one,’” says Dalio. “I would choose gold.” Dalio, who turns 72 on Sunday, revealed in May that he owns an undisclosed amount of bitcoin, after previously raising concerns about cryptocurrencies for years. Still, he isn’t completely sold on the concept.
Employees at Bill Hwang’s Archegos Face Losing About $500 Million in Bonuses After the Fund’s Implosion, Report Says (Business Insider)
Employees of Archegos Capital Management stand to lose a total of as much as half-a-billion dollars after the investment fund’s collapse shrank the value of their deferred bonuses, the Financial Times reported on Wednesday. Archegos, the family office of Bill Hwang, imploded in March when some of the former Tiger Capital Management portfolio manager’s highly leveraged bets started to come apart and his lenders sold some of his investments.
