Billionaire Hedge Fund Managers Cohen, Dalio Tout Cryptocurrencies (Reuters)
NEW YORK (Reuters) – Billionaire investors Steven Cohen and Ray Dalio have joined the cryptocurrency craze by putting cash to work and saying at a conference this week that bitcoin and other digital currencies are an interesting way to diversify their holdings. Dalio, who founded the world’s largest hedge fund, Bridgewater Associates, told attendees at the SALT conference in New York on Wednesday, “I have more crypto than gold.”
Olaf Carlson-Wee’s Polychain Capital Co-Leads $230 Million Investment In Ethereum Challenger Capitalizing On DeFi (Forbes)
Ethereum challenger Avalanche has raised a $230 million investment led by Olaf Carlson-Wee’s Polychain Capital and Singapore-based hedge fund Three Arrows Capital. Announced today, the capital raise, conducted as a private sale of the platform’s AVAX token, closed in June and also included investors such as R/Crypto Fund, Dragonfly, CMS Holdings, Collab+Currency, Lvna Capital as well as a group of angel investors and family offices.
Young Östlin Replaces Departing Founder (Hedge Nordic)
Stockholm (HedgeNordic) – Nordic Cross Small Cap Edge is undergoing a change in portfolio management after one of Nordic Cross Asset Management’s founding partners, Mikael Hanell, left the asset manager for new challenges. Hanell’s role as portfolio manager responsible for Nordic Cross Small Cap Edge is assumed by Oscar Östlin, who will co-manage the small-cap-focused long/short equity fund alongside Ulf Strömsten.
Source: pexels
Altana’s Distressed Opportunities Hedge Fund Sizes Up Equity and Credit Trades in “Forgotten” Oil Services (Hedge Week)
Altana Wealth, the credit, currency and special situations-focused hedge fund led by former Trafalgar Asset Managers co-founder Lee Robinson, is circling the restructuring and consolidation opportunities arising from the rebound in demand for oil and gas post-Covid. The firm’s Altana Distressed Opportunities Fund, which seeks out investment ideas in neglected corners of capital markets, is zeroing in on the offshore oil and gas services sector.
Hedge Fund Performance Update: August 2021 (Preqin)
The Preqin All-Strategies Hedge Fund benchmark returned +1.59% in August, turning the tide on July’s -0.51% and pushing the 12-month return to +25.00%. This heatmap presents the hedge fund performance benchmarks for August 2021. Plus, the YTD and 12-month returns for all top-level strategies, structures, denominations, and size classifications.
A Crypto Hedge Fund Manager was Sentenced to Over 7 Years in Prison for Running a Ponzi Scheme (Business Insider)
A former cryptocurrency hedge fund manager who pleaded guilty to securities fraud after prosecutors said he ran a Ponzi scheme was sentenced to seven and a half years in prison, the US attorney’s office for the Southern District of New York said Wednesday. From 2017 to 2020, 24-year old Stefan Qin stole and dissipated nearly all of the assets of his $90 million flagship hedge fund, and attempted to steal millions from a secondary fund to pay back investors, according to the Department of Justice.
Activist Hedge Fund Engine No. 1 to Open Meatpacking District Office (The Real Deal)
Activist hedge fund Engine No. 1, which is shaking up Wall Street with its push to get Big Oil to reduce carbon emissions, is opening a New York City office in the Meatpacking District. The San Francisco-based firm signed a lease for about 11,500 square feet at Aurora Capital Associates’ 405 West 13th Street, sources familiar with the transaction told The Real Deal. The space also includes about 1,800 square feet of outdoor terrace.
Volta Trucks Raises $43.7 million in Latest Funding Round (Reuters)
LONDON, Sept 16 (Reuters) – Electric truck startup Volta Trucks said on Thursday it has raised 37 million euros ($43.7 million) in its latest funding round led by hedge fund Luxor Capital and including an investment by Volta’s battery supplier Proterra (PTRA). The latest funding brings Volta’s total raised to 60 million euros. Luxor also invested in the previous funding round.
Thursday 9/16 Insider Buying Report: LFMD, TUEM (Nasdaq.com)
On Tuesday, LifeMD (LFMD)’s , Happy David Walters, made a $299,655 purchase of LFMD, buying 41,697 shares at a cost of $7.19 each. Walters was up about 12.6% on the purchase at the high point of today’s trading session, with LFMD trading as high as $8.09 at last check today. LifeMD is trading up about 4.6% on the day Thursday. This buy marks the first one filed by Walters in the past year. And on Wednesday, COO Marc Katz bought $256,725 worth of Tuesday Morning Corp (TUEM), buying 150,000 shares at a cost of $1.71 each. Tuesday Morning Corp is trading up about 23.1% on the day Thursday. So far Katz is in the green, up about 31.5% on their purchase based on today’s trading high of $2.25.
The CBO of Corcept Therapeutics (NASDAQ: CORT) is Selling Shares (Analyst Ratings)
Yesterday, the CBO of Corcept Therapeutics (CORT), Gary Charles Robb, sold shares of CORT for $1.13M. Based on Corcept Therapeutics’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $91.59 million and quarterly net profit of $26.52 million. In comparison, last year the company earned revenue of $88.57 million and had a net profit of $28.33 million. The company has a one-year high of $31.18 and a one-year low of $16.42. Currently, Corcept Therapeutics has an average volume of 566.17K.
