Sunday, December 4

Tag: Fund

Binance and Wazirx Will Fuel Blockchain Growth in India With $50m USD in Grants
PR Wire

Binance and Wazirx Will Fuel Blockchain Growth in India With $50m USD in Grants

Binance and WazirX, a subsidiary the world-renown exchange acquired last year will create a $50M USD fund called “Blockchain for India” according to the announcement on Binance’s website. Following the fact that the Indian Supreme Court Lifted the Central Bank’s Cryptocurrency Ban, this step from Binance is one business savvy way to capitalize on a newly opened market for cryptocurrency and blockchain. The fund is backed by BNB, BUSD, and WRX digital assets which will be used to make investments in blockchain projects and startups that are trying to solve technical and social issues with blockchain. “We started WazirX with the aim to involve everyone in this technology revolution, and the Blockchain for India fund marks a big step in this direction. India has the bigges...
Hedge funds posted their best month since the financial crisis in April amid the torrid market rebound | Currency News | Financial and Business News
PR Wire

Hedge funds posted their best month since the financial crisis in April amid the torrid market rebound | Currency News | Financial and Business News

Spencer Platt/Getty Images Hedge funds posted their best month in more than a decade as March's lows gave way to a resounding rally through April. Eurekahedge's Hedge Fund Index gained 3.7% last month, its biggest jump since May 2009. A combination of Federal Reserve action, risk-on attitude, and optimism toward COVID-19 vaccine trials pushed investors back into the stock market. Major US indexes posted their best month since 1987 and rallied out of bear market territory.  Nearly 80% of the index's members gained in April, with 10% of managers posting double-digit returns. Eurekahedge's North American Hedge Fund Index jumped 5.4%, while its European peer gained 3.5%. The index for Asia excluding Japan posted the biggest regional win with a 6.5% return, while the Japan-focus...