Friday, Aug 19, 2022
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Ex-Citigroup Trio Seek $100 Million For Crypto Hedge Funds, Bitcoin Falls

The price of Bitcoin fell 2.10 per cent in the last 24 hours, Ethereum down 1.59 per cent. 

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A trio of former Citigroup Inc. executives who left the bank last month to form Motus Capital Management, are now seeking to raise $100 million for a pair of actively managed crypto hedge funds.

Alex Kriete, Greg Girasole, and Frank Cavallo are the founding partners of Motus Capital. Motus is the Latin term and the origin of the word ‘motor’. Motus Capital, according to the founders, wants to make it easier for high net-worth individuals to bet on cryptocurrencies, Bloomberg reported. 

Elsewhere, Robinhood, an American financial services company has announced its plans to integrate the Bitcoin Lightning Network into its platform in order to facilitate faster Bitcoin transactions. 

The announcement was made by the company’s chief product officer, Aparna Chennapragada, during the Bitcoin 2022 conference. According to various media reports, it was also announced that members on its beta crypto queue can now send and receive cryptocurrency through its crypto wallet feature.

Crypto Prices

The price of Bitcoin in the cryptocurrency market fell by 2.10 per cent in the last 24 hours, and it was trading at $42,485.57 at 5:00 pm IST. Its dominance in the crypto market is currently at 41.03 per cent, down by 0.04 per cent in the last 24 hours, according to Coinmarketcap.com.

In the last 24 hours, Ethereum (ETH) was trading at $3,212.04, a fall of 1.59 per cent, while Binance Coin (BNB) fell 0.44 per cent in the same period, and was trading at $426.94. Solana (SOL) was down by 4.87 per cent to $110.37, while Cardano (ADA) was down by 3.80 per cent to $1.04.

Meme Coins

Among meme coins, Dogecoin was down 2.02 per cent, and it was trading at $0.143 at 5:00 pm on Coinmarketcap.com. Its rival, Shiba Inu, was down by 2.84 per cent, and it was trading at $0.00002394. Samoyedcoin was down by 11.86 per cent, trading at $0.01838, while Dogelon Mars was down by 4.40 per cent, and was trading at $0.0000008987.

Overall Scenario

According to Coinmarketcap.com, the global crypto market cap was at $1.97 trillion, a decrease of 2.88 per cent in the last 24 hours, while the total crypto market volume was $83.07 billion, down by 1.70 per cent, according to Coinmarketcap.com.

META Gaming (RMG) became the biggest gainer, recording a rise of 702.02 per cent. It was trading at $0.000001357 at 5:00 pm, according to Coinmarketcap. In contrast, WonderHero (WND) witnessed the maximum loss, falling 97.78 per cent. It was trading at $0.003569, Coinmarketcap.com reported. 
 

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