BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Galaxy Digital becomes a shareholder in ParaFi Capital to jointly co-invest in the DeFi space

Mike Novogratz's Galaxy Digital has become a minority shareholder in venture firm ParaFi Capital to jointly co-invest in the decentralized finance (DeFi) space.
ParaFi said Galaxy's strategic investment (undisclosed) would help drive further adoption of DeFi, especially among institutions. ParaFi's other investors include Bain Capital Ventures and Henry Kravis, co-founder of private equity giant KKR & Co.
ParaFi began investing in DeFi in 2018, and its portfolio includes leading protocols such as Uniswap, Compound, Aave, and Synthetix. As of August 31, ParaFi had more than $100 million in assets under management.
In addition to investing in DeFi protocols, ParaFi is also a liquidity provider and a governance participant. Andreessen Horowitz (a16z), for instance, delegated its crypto fund's Compound governance rights to ParaFi.
"DeFi represents the nascent architecture for a new, open financial network...As DeFi approaches an inflection point, we look forward to partnering closely with the Galaxy team," said ParaFi founder and managing partner Ben Forman.
Novogratz told Bloomberg that DeFi protocols would eat into many intermediaries' businesses in a few years. "We want to stay close to the cutting edge. My instinct is, this is a really important part of the ecosystem," said Novogratz.
Galaxy's current exposure to DeFi is about 5% of its capital, said Novogratz.  © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Cool huh? Please read the full Article: Galaxy Digital becomes a shareholder in ParaFi Capital to jointly co-invest in the DeFi space


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News