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Cryptocurrency funds moving towards markets; number of deals has dipped, says Michael Arrington

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Cryptocurrency funds moving towards markets; the number of deals have dipped, says Michael Arrington
Source: Pixabay

With the price of Bitcoin [BTC] on the rise and the collective coin market on an upswing, cryptocurrency funds have veered away from increased investment and have primed their focus on the market, claimed Michael Arrington. Arrington is the Founder of Arrington XRP Capital and the Silicon Valley news outlet, Tech Crunch.

Speaking to Ran NeuNer on the latest episode of CNBC’s Crypto Trader, Arrington said that the mood was considerably bullish. As the collective market added nearly $40 billion in less than a week, virtual currency-centric funds have seen a wave of optimism, he added.

Arrington stated,

“I just know that if we put money into the market, and hold long enough and make good bets, eventually, hopefully we’ll make money.”

Arrington added that there was a drop in the number of deals being presented at conferences like Deconomy. Hence, funds are moving away from establishing ties and instead, are looking to trade on the market. He added that similar forums held in 2018 saw considerably higher deals being penned, despite the digital currency market beginning to bleed.

However, Arrington remains optimistic about current prospects,

“I think the deals will pick up again, entrepreneurs will start to build companies, because they know they can raise money and we’ll start to see really good deal flow coming in.”

Given this is the year of “building,” Arrington was asked if projects were ready for implementation or if they were still developing. He responded by stating that mainnets were on the rise. However, only a few were ready for action this year while others required a few more years to be deployed, he added.

He heralded this year as,

“This is definitely the season of the mainnet.”

Arrington highlighted two companies that his fund is not only backing, but have expressed a great deal of interest in. The first is Terra, a South Korean-based stablecoin company, which is one of Arrington XRP Capital’s largest investments. He also mentioned interest in Israel-based SpaceMesh.

He added that deals with non-US based companies were far better as US crypto-investment are highly regulated by the Securities and Exchange Commission. He referred to the country’s financial watchdog as a “total disaster.”





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Graduate of Finance and Economics, interested in the intersection of the world of decentralized currency and global governance.

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Cardano’s focus is on staying loyal to ecosystem’s scalability & interoperability, says Charles Hoskinson

Arijit Sarkar

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Charles Hoskinson shares Cardano's vision to enable scalable and interoperable crypto ecosystem
Source: United States Air Force

As numerous developments continue to change the face of the cryptocurrency space, IOHK’s CEO Charles Hoskinson shared Cardano’s latest innovations in its ecosystem through another one of his AMA sessions. While the entrepreneur expanded on the expected launch of its Haskell and RUST testnets, the AMA was also focused on sharing his aggressive plan to enable Cardano’s smart contracting.

Hoskinson attributed the vision’s ultimate success to three main factors, which include ability to train new developers, the model itself and Cardano’s ability to interface with the broader functional programming community. He supported this idea by saying,

“This is a huge untapped community full of credentialed and qualified programmers. By interfacing our foundation with that community, we should be able to see a lot of really interesting DApps produced for Cardano rather quickly.”

Comparing Cardano’s credibility to the infamous JAVA platform, Hoskinson claims to have made 20 reiterations of the project “because programming language theorists are perfectionists and they really want to get this done right.”

While the Cardano team continues to work towards the deployment of Shelley and Marlowe on the testnet, Hoskinson also hinted at some incremental upgrades that will be expanded upon in the next AMA, as well as on the company’s official website. Out of the many iterations, Cardano’s primary focus will be to stay loyal to the ecosystem’s scalability and interoperability across other crypto-based ecosystems.

Hoskinson also mentioned that his past contributions to Ethereum helped his team explore the design space of the code, which ultimately helped them develop a seamless ecosystem focused on user experience and ease of use. He added,

“People want to keep regulators happy. That said, we will also begin exploring some privacy ideas and how we can also increase privacy on these transactions.”

In addition to backend development, it is also important to note that Cardano’s [ADA] crypto-adoption has allowed it to dethrone Tron [TRX] from the 11th position, with respect to market cap.





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