Billionaire Investor Henry Kravis Makes First Crypto Investment
[NEWS BLOG]: Billionaire Investor Henry Kravis Makes First Crypto Investment
Billionaire investor and philanthropist Henry Kravis is dipping his toe into the world of crypto assets.
According to a piece by Bloomberg on Friday, Kravis – who is co-founder of global investment firm KKR & Co. – is said to have invested in a cryptocurrency fund offered by ParaFi Capital.
The news comes via ParaFi founder and CIO Ben Forman, a former KKR employee who left to form the San Francisco-based digital asset startup. Bloomberg said a spokeswoman for Kravis has declined to comment on the investment.
Forman describes ParaFi Capital as an “investment firm focused on the blockchain ecosystem” with backing from Bain Capital Ventures, Dragonfly Capital Partners and more. According to Crunchbase, ParaFi has invested in crypto exchange Coinbase and ethereum-based stablecoin developer MakerDAO, as well as working on debt investments, Forman led KKR’s research efforts on blockchain and crypto before leaving the firm in 2018, Bloomberg says.
OTHER RELATED NEWS
Ripple-Based Remittance Firm SendFriend Claims to Save Up to 80% in Fees
Blockchain-based money transfer startup SendFriend utilizes Ripple’s technology to save up to 80% in remittance fees, according to a blog post published on Dec. 12.
SendFriend uses Ripple’s xRapid product for cross-border payments, converting between the United States dollar, XRP and Philippine pesos and circumventing the longer process of traditional banking systems.
Philippines-focused remittance platform
SendFriend’s money transfer app aimed at reducing annual remittance fees for cross-border Filipino workers claims to lower such transaction costs by up to 75%. What makes it possible, according to the startup’s CEO, David Lighton, is RippleNet’s On-Demand Liquidity (ODL) technology.
With ODL, RippleNet’s users can utilize digital token XRP to - read more.
Facebook Seeks Wallet Engineers As Blockchain Job Openings Top 30
Facebook is looking to hire more than 30 professionals to ramp up its blockchain work, including the Libra cryptocurrency.
The social media giant’s career website now lists 31 job openings requiring some blockchain expertise. Six of them are for Calibra, Facebook’s wallet app for Libra. These are all jobs for data scientists and engineers, who will analyze how users interact with Calibra and other Facebook services.
“The wallet will be the delivery vehicle for many financial services starting with personal payments, but expanding to online and offline commerce and eventually lending and personal financial management,” the job description says.
The blockchain team is - read more.
Ripple Price (XRP) Correcting Gains: BTC And ETH Rally
Ripple Price Analysis
Yesterday, there was a minor downside correction in ripple price from the $0.2850 resistance against the US Dollar. XRP price tested the key $0.2720 support area. A base was formed above $0.2700 and later the price started a fresh increase. There was a break above the $0.2750 resistance and the price remained well above the 100 hourly simple moving average.
Finally, the price surpassed the $0.2850 resistance area and traded to a new weekly high at $0.2872. Recently, the price started a downside correction below the $0.2850 and $0.2800 levels. Additionally, there was a break below - read more.