Tagunion square ventures

Fred Wilson: Crypto Bottom Close But Not a 'Safe Haven' for Stock Market Downturn

Legendary venture capitalist Fred Wilson says 2019 might be a “doozy,” leading investors to be cautious. Cryptocurrency markets won’t be a “safe haven” amidst global uncertainty but: “There will be signs of life in crypto land in 2019.” Wilson believes the U.S will see a change in presidents this coming year. This will affect the economy and capital markets. “The US equity capital markets enter...

Why Warren Buffett Is Wrong on Bitcoin, According to Legendary VC Fred Wilson

Warren Buffett

Legendary venture capitalist Fred Wilson has issued an open response to Warren Buffet's recent claim that bitcoin is equivalent to "rat poison squared" is fundamentally flawed. The American investing tycoon, Wilson said, has not done his research. Why Bitcoin Has Value Speaking at the Consensus 2018 conference in New York City, Wilson said that the true value of the bitcoin ecosystem would accrue...

Silicon Valley VCs Ask US Regulators to Go Easy on ICO Regulations

A duo of heavy-hitting Silicon Valley venture capital firms has asked US regulators to take an industry-friendly approach to initial coin offering (ICO) regulations. The Wall Street Journal reports that representatives from Andreessen Horowitz and Union Square Ventures met with high-ranking officials at the US Securities and Exchange Commission (SEC) on March 28. The VC firms, which were joined...

Popular Ethereum App CryptoKitties Raises $12 Million in Series A Funding

cryptokitties

Wildly-popular Ethereum application CryptoKitties has raised $12 million in a funding round led by venture capital firms Andreessen Horowitz and Union Square Ventures (USV). Announced on Tuesday, the series A funding round also featured personal investments from major tech figures such as Coinbase co-founder Fred Ehrsam, AngelList CEO Naval Ravikant, and Zynga founder Mark Pincus. Developed by...

USV's Albert Wenger: Cryptocurrency as a Whole Will Be Worth Trillions of Dollars

Following bitcoin’s historic march to $10,000 and subsequent volatility, covered by CCN, various prominent Wall Street executives have been weighing in on bitcoin and the cryptocurrency ecosystem in general, showing they aren’t too fond of it. Nobel Prize-Winning economist Joseph Stiglitz recently stated that bitcoin should be “outlawed,” while Goldman Sachs CEO Lloyd Blankfein apparently soured...

Report: An AI Hedge Fund Paid for By Bitcoin

Numerai, a hedge fund based in San Francisco, has gained a following since launching this month as the first hedge fund that gives stock market data to machine learning scientists using structure-preserving encryption. The fund allows open participation by data scientists around the world. Founder Richard Craib and his company recently completed their first round of venture funding, led by the...

Venture Capitalist: Banks Are Oblivious to Bitcoin's Best Feature

Bitcoin bank

Investor Fred Wilson, co-founder of Union Square Ventures, thinks banks are missing the most important opportunity bitcoin offers by building private blockchains. Speaking on a panel with Nathaniel Popper of The New York Times at the CB Insight “Future of Fintech,” he said the transformative value of virtual currency will be on a public blockchain, as reported by the Observer. Private blockchains...

Wells Fargo Hosts "Virtual Currency: Viability, Compliance, & Direction"

Last week, here at CCN we reported on Wells Fargo calling a Bitcoin Summit to discuss "Rules of Engagement" for banks and Bitcoin.  This original private summit was held on January 14th, 2014 and was headed by Jim Richards, the Vice President in charge of Wells Fargo's financial crimes risk management division.  Presumably, at the January 14th summit, Wells Fargo and other banking officials saw a...