Crypto Three Things (8/5)
Aug 5, 2022
"Life is a succession of lessons which must be lived to be understood." -Ralph Waldo Emerson
1) Virginia pension fund eyes crypto lending: Fairfax County Retirement Systems, a Virginia-based $6.8B pension fund, is betting $70M on two crypto lending companies. The fund expects to boost its returns by lending digital tokens to crypto projects and profiting from the generated yields. The Fairfax System has a short history with crypto – in 2019, it invested $21M in a digital-asset VC fund.
Titan’s Takeaway: We saw how the promise of high and steady returns, even in a dollar-pegged token, toppled the entire crypto industry. As the fallout still reverberates, we hope the pension fund did extensive due diligence.
2) Voyager to return $270M in cash deposits: The U.S. Bankruptcy Court in New York ordered Voyager to allow access to its custodial account, which held roughly $270M at the time the firm filed for bankruptcy. For now, only one-fifth of the original $1.1B loan obligations will be returned to clients. Voyager is currently in talks over a potential acquisition with an undisclosed buyer.
Titan’s Takeaway: Even though it is only a portion of the entire amount owed to creditors, the sum should alleviate some concerns, and perhaps a potential buyer could take care of the rest.
3) Instagram adds NFT support to 100 countries: Non-fungible tokens are swarming Instagram worldwide after Meta CEO Mark Zuckerberg announced the international expansion. Thanks to the Flow blockchain powering the new feature, Instagram users can now showcase their NFTs on their main feed, in stories, or through messages.
Titan’s Takeaway: Instagram supporting NFTs is a natural progression of Meta’s Web3-focused evolution and another push to stay relevant and competitive.
Cash Management
© Copyright 2024 Titan Global Capital Management USA LLC. All Rights Reserved.
Titan Global Capital Management USA LLC ("Titan") is an investment adviser registered with the Securities and Exchange Commission (“SEC”). By using this website, you accept and agree to Titan’s Terms of Use and Privacy Policy. Titan’s investment advisory services are available only to residents of the United States in jurisdictions where Titan is registered. Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities or investment products. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections are hypothetical in nature and may not reflect actual future performance. Account holdings and other information provided are for illustrative purposes only and are not to be considered investment recommendations. The content on this website is for informational purposes only and does not constitute a comprehensive description of Titan’s investment advisory services.
Please refer to Titan's Program Brochure for important additional information. Certain investments are not suitable for all investors. Before investing, you should consider your investment objectives and any fees charged by Titan. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested, including principal. Brokerage services are provided to Titan Clients by Titan Global Technologies LLC and Apex Clearing Corporation, both registered broker-dealers and members of FINRA/SIPC. For more information, visit our disclosures page. You may check the background of these firms by visiting FINRA's BrokerCheck.
Various Registered Investment Company products (“Third Party Funds”) offered by third party fund families and investment companies are made available on the platform. Some of these Third Party Funds are offered through Titan Global Technologies LLC. Other Third Party Funds are offered to advisory clients by Titan. Before investing in such Third Party Funds you should consult the specific supplemental information available for each product. Please refer to Titan's Program Brochure for important additional information. Certain Third Party Funds that are available on Titan’s platform are interval funds. Investments in interval funds are highly speculative and subject to a lack of liquidity that is generally available in other types of investments. Actual investment return and principal value is likely to fluctuate and may depreciate in value when redeemed. Liquidity and distributions are not guaranteed, and are subject to availability at the discretion of the Third Party Fund.
The cash sweep program is made available in coordination with Apex Clearing Corporation through Titan Global Technologies LLC. Please visit www.titan.com/legal for applicable terms and conditions and important disclosures.
Cryptocurrency advisory services are provided by Titan.
Information provided by Titan Support is for informational and general educational purposes only and is not investment or financial advice.
Contact Titan at support@titan.com. 508 LaGuardia Place NY, NY 10012.