From Coindesk
Call it the latest sign of the sea change.Read more: https://www.coindesk.com/techcrunch-founder-arrington-raising-100-million-ripple-hedge-fund/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.
However, most notable about the debut may be that Arrington emphasized how it marks what he considers the next phase of his career, one that has already seen him found TechCrunch, one of the most successful internet-era media startups, as well as CrunchFund, a venture fund with 55 exits to date.
Arrington told CoinDesk:
"In the last several months, I've gone from crypto enthusiast to 100 percent crypto. I've only been looking at crypto deals. This is what I think I'll be doing the rest of my career."
Hmmm maybe that Ripple I've been HODLing will finally comeback in value.
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