(Bloomberg) Billionaire hedge-fund manager Marc Lasry and former U.S. Commodity Futures Trading Commission Chairman Christopher Giancarlo have invested in crypto-asset and blockchain investment firm BlockTower Capital.Terms weren’t disclosed. Lasry, the co-founder and chief executive officer of Avenue Capital Group, made an investment independent of his firm, according to people familiar with the matter who weren’t authorized to speak on the record. Both Lasry and Giancarlo confirmed the investments, but declined to comment further.Giancarlo, also a former executive at a swaps brokerage, earned the nickname “crypto dad” while serving as CFTC chairman from 2017-2019, including during the regulatory agency’s approval of Bitcoin futures.The investment disclosures come as crypto enthusiasts prepare for fresh regulators while digital assets surge to record prices. Gary Gensler, the Biden administration’s nominee to chair the Securities and Exchang
Coinbase mafia shows how tight a circle holds sway over Bitcoin japantimes.co.jp - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from japantimes.co.jp Daily Mail and Mail on Sunday newspapers.
Coinbase mafia shows how tight a circle holds sway over bitcoin
Coinbase Global’s filing to become a publicly traded company provides a glimpse into the remarkably small circle of mostly men who command the incredibly lucrative digital landscape.
This US-based power list starts with Brian Armstrong, the now billionaire CEO of Coinbase, and his co-founder, Fred Ehrsam, who went on to create Paradigm Operations. Fellow billionaire Fred Wilson of Union Square Ventures, and Andreessen Horowitz’s Chris Dixon, are among the original venture capitalists that will reap large windfalls from the direct listing of the exchange.
Even though verified users of Coinbase, the largest US digital-asset exchange, jumped 34% to 43 million last year as bitcoin more than quadrupled, control of the largest cryptocurrency remains narrow. Less than 2% of the anonymous ownership accounts that can be tracked on bitcoin’s blockchain control 95% of the digital asset, according to researcher Flipsi
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