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TechCrunch Founder Arrington Raising $100 Million Ripple Hedge Fund

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Has it started?

https://www.coindesk.com/techcrunch-founder-arrington-raising-100-million-ripple-hedge-fund/

Quote

Announced today at CoinDesk's Consensus: Invest in New York, TechCrunch founder Michael Arrington revealed he's raising $100 million for a hedge fund that will buy and hold crypto assets while making investments in token sales and (some) equities and debt.

Launched under a new entity called Arrington XRP Capital, the fund claims to be the first that will require all limited partners (LPs) to make investments in XRP, the cryptocurrency that powers San Francisco startup Ripple's RippleNet software. The fund will also use XRP for all distributions and fees.

"We think XRP is a particularly useful currency because of the transaction times," he said. "I think it makes a lot of sense to denominate a hedge fund in a cryptocurrency, the only downside is [potential] volatility against fiat..."  he framed the market as overly reliant on bitcoin and ether, the two largest assets by market capitalization, and his fund as one that is staking its claim on a solution.

Edited by Guest

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2 minutes ago, XRPledger said:

New fund... Arrington XRP Capital.  Just announced $100 million crypto fund only accepting XRP!

Nice, announced today at CoinDesk's Consensus: http://fortune.com/2017/11/28/arrington-xrp/

https://www.coindesk.com/techcrunch-founder-arrington-raising-100-million-ripple-hedge-fund/

Edited by cryptoman

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Guest

LOL.  Looks there are multiple posts about this at approximately the same time.  However, I was the only one who followed the press rules.  @karlos, many of us read your press rules.  :)

Perhaps they should be consolidated to one thread?

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