Alan Howard-backed equity firm 10T Holdings has raised $750 million from public pensions, endowments, foundations, and family offices for its first cryptocurrency-focused fund. 10T Holdings Founder and CEO, Dan Tapiero, told Bloomberg in an interview that the firm started raising money from investors at the end of 2020 and has already deployed approximately 80% in "mid-to-late stage companies" in the cryptocurrency space.
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"As adoption of digital assets by governments, banks, companies, and consumers continues to progress, we remain in the early stages of a generational opportunity to participate in the value being created by distributed computing and decentralized networks," Tapiero said in a press release.
So far, 10T has already invested in a wide range of cryptocurrency-focused companies like Kraken, Ledger, Figure, Deribit, Bitfury, Huobi, eToro, Figment, Animoca Brands, and Helium, among others. The announcement comes a few weeks after 10T Holdings and Akuna Capital became shareholders of Deribit. The firms purchased an undisclosed amount of shares in the parent company of DRB Panama.
The exchange said its total notional turnover in the first half of 2021 reached $528 billion, up to 630% increase against the same period in 2020. Options contracts traded have also more than doubled in 2021 vs 2020, however, the exchange did not specify the numbers.
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