On 5th October, Yale University, the high-end Ivy league school was reported to have made a huge investment in a cryptocurrency fund called Paradigm. The fund was started by Fred Eshram, the Co-founder of the biggest cryptocurrency exchange Coinbase and Matt Huang, the former partner at Sequoia Capital.
The fund is reported to have raised about $400 million with the contribution of the Yale University, said a source with adequate knowledge on the subject. Furthermore, Yale is estimated to possess an endowment of $30 billion and is now counted among the large investors in the cryptocurrency space. However, there are no reports on how much investment was made by the institution.
According to experts, this is considered to be the next big thing in the cryptocurrency space as the members of the crypto-verse have been waiting on a Bitcoin ETF that may ensure the involvement of institutional funds into the crypto-market. The reason why not many institutional investors are inclined to put their money into cryptocurrency funds is due to a lack of regulatory framework and an infrastructure to guard investor interests in the digital asset class.
A Redditor named BarkingThought commented on the news and wrote:
“This is actually huge news. It signals to other large and prestigious institutions that crypto is “ok” to invest in and there is no longer reputational risk in doing so.”
Mizzymax, another Reddit user and a cryptocurrency space enthusiast also said:
“Remember when crypto was thought to only be used for illegal criminal activity. Haha! Yea those days are gone”
Subscribe to AMBCrypto’s Newsletter
Is Binance 2.0 and margin trading really accessible for ‘everyone?’
Binance, one of the world’s largest exchanges, announced recently that Binance’s upgraded version, Binance 2.0, was available to everyone. CZ tweeted,
“While #bitcoin is on a tear on price, @Binance have rolled out Binance 2.0, with margin access to everyone. In bear and bull markets, we #BUIDL!”
The margin trading feature which was previously available for limited users has now been made available for everyone. Although CZ’s tweet says it is available to everyone, there is still a catch to this. It is not available for users in countries where crypto-jurisdictions are unclear. These include the U.S, Iran, North Korea, Syria, Cuba, Crimea, Canada, Japan, and South Korea.
CZ followed up the above tweet with another, talking about performance, a “key improvement” that comes with Binance 2.0. Previously, when trading volume rose, users would suffer from lags and other performance issues. However, the upgrade will solve each of these issues, said CZ.
“One of the key improvements in this upgrade that not easily visible is performance. During peak times, if you experience lag or other performance issues, be sure to try out 2.0. We will soon decommission the “1.0” version due to legacy performance bottlenecks.”
However, even after CZ’s announcement, margin trading is still not accessible to a few users. These users were greeted with a notification which said, “This feature is only available for invited users.” A lot of users have complained about the same, with CZ yet to put out a statement about the same.
Additionally, Binance has announced the start of BEP2, which is a community listing program where Binance lists one project every month for three months. This will extend from the 20th of a month and extend to the 20th of the next month. Any of the following coins, as seen in the tweet below, might be listed on Binance over the coming days.
A reminder that you may see one or more of the below tickers on Binance .com soon.
— Binance (@binance) June 26, 2019
Subscribe to AMBCrypto’s Newsletter