Home / Tag Archives: jon-russell (page 3)

Tag Archives: jon-russell

ClassPass is headed to Asia via an imminent launch in Singapore

U.S fitness startup ClassPass is headed to Asia after it announced plans to go live in Singapore, its first city in the continent. Four-year-old ClassPass allows its users to book fitness classes and packages across a multitude of gyms. The company claims to work with more than 10,000 fitness partners across over 50 cities globally. That’s mostly in the U.S. but it has also forayed into Canada, the UK and Australia and now it is seeking out additional growth opportunities. The move into Asia has been expected for some time after ClassPass hired a head of international in May . The company told TechCrunch at the time that it would soon arrive in three countries in Asia and Singapore, which has many similarities to the West in terms of economics and culture, is a logical pick as the starting point. Added to that, the country’s sovereign fund, Temasek, led ClassPass’s $70 million Series C funding round last year so you could say that is an extra factor. The identity of the other two cities remains unclear at this point, but you’d imagine that Hong Kong will be one of them. ClassPass hasn’t given a specific date for its launch other than it will come to Singapore “in the lead-up to National Day” — that’s August 9.

Read More »

Hong Kong’s GoGoVan raises $250M from investors including Alibaba’s logistics subsidiary

Logistics on-demand service GoGoVan became Hong Kong’s first billion-dollar startup via a merger last year, and now is doubling down on growth after raising $250 million in new capital. The new round was led by InnoVision Capital, with participation from the Russia-China Investment Fund, Hongrun Capital and Qianhai Fund of Funds. Two other notable investors include Alibaba’s Cainiao logistics subsidiary — Alibaba is already an investor via its Hong Kong entrepreneurship fund — and 58 Daojia Group, the parent of the ’58 Suyun’ business that merged with GoGoVan. There’s more capital coming soon it seems, with GoGoVan saying in an announcement that the $250 million is “the first phase of its new round of funding.” Despite reaching unicorn status via the merger, GoGoVan didn’t disclose a valuation for this new round. The company plans to use the money to expand its business into new markets, and in particular India and Southeast Asia, having focused on China primarily to date. Together with 58 Suyun, GoGoVan claims to cover 300 cities with some eight million registered users and 2,000 staff. The service itself is anchored around short distance logistics and trips, but GoGoVan CEO Steven Lam explained that the company plans to soon introduce a door-to-door option and other offerings that “simplify logistics and delivery services.” GoGoVan’s main rival is Lalamove, a fellow Hong Kong-based logistics startup.  Lalamove raised $100 million last year  at a valuation of nearly $1 billion. While GoGoVan’s exit was its merger, Lalamove is looking to remain independent and it has begun thinking about an IPO, which could take place in Hong Kong, its head of international Blake Larson told TechCrunch. GoGoVan and Lalamove are two of the last that remain standing from what was once a very cluttered field as the rise of Uber saw dozens of companies sprout up as an ‘Uber for logistics’ services. The secret to their survival? Getting deep into the Chinese market is one crucial factor, but from talking to the two companies over the years, both cast  the ‘Uber for X’ buzzword aside and concentrated on working with SMEs and repeat business customers rather than the shallow (and fickle) consumer market. Uber’s Cargo service , for example, offered on-demand logistics in Hong Kong but it didn’t live long before being shuttered .

Read More »

Golden Equator Capital and Korea Investment Partners announce $88M Southeast Asia fund

There’s more money flowing into Southeast Asia’s tech startup scene after Singapore’s  Golden Equator Capital and Seoul-based Korea Investment Partners announced plans for a collaborative $88 million (SG$120 million) fund for the region. The two investment firms will act as joint partners for the vehicle, which is expected to hit a first close before September and a final close by the end of 2018. Already, they claim to have 65 percent of the target capital committed by LPs. The firms are aiming for the Series A and B spaces with a typical check size of between $1.5 million and $3.7 million for what will be known as the GEC-KIP Fund. It isn’t exactly clear what focus the fund will adopt for investments. Southeast Asia often falls off the radar for investment in Asia, with the far larger countries of China and India typically getting the attention, but rising internet access among the region’s cumulative population of over 600 million signals growth potential. A recent report co-authored by Google forecasts Southeast Asia’s ‘internet economy’ reaching more than $200 billion by 2025, up from just $30 billion in 2015. A few unicorns, including ride-sharing companies Grab and Go-Jek, have also helped put it on the map for investors. Speaking of investors, Golden Equator Capital is part of Golden Equator , a Singapore-based group of businesses that includes financial services, consulting, an incubator and, of course, investment funds. The firm has existing ties with Korea — via a Korea-focused health tech incubator launched last year — and its advisory team includes Taizo Son , founder of Japanese VC firm Mistletoe and brother of SoftBank chairman Masayoshi Son.

Read More »

Aspire Capital offers fast finance for SMEs in Southeast Asia

Southeast Asia’s digital economy is tipped to grow more than six-fold to reach more than $200 billion per year, according to a report co-authored by Google , with e-commerce accounting for the dominant share. The emergence of e-commerce platforms like Alibaba’s Lazada and U.S.-listed Shopee have enabled online entrepreneurship across the region, but still financial support for online sellers, who are basically SMEs, is lagging. That’s where Singapore-based Aspire Capital , a six-month-old organization focused on speedy SME lending, is hoping to make a difference. The company certainly has opportunity. With a cumulative population of over 600 million consumers and a rising middle class, Southeast Asia is increasingly an attractive market for businesses of all kind, and online companies in particular. Chinese giants Alibaba and Tencent have long devoted significant resources to the region where, like India, they see significant growth potential. E-commerce is the clear winner, in terms of size, with the e-Conomy SEA report — a joint research project between Google and Singapore sovereign fund Temasek — forecasting e-commerce revenue will hit $88 billion by 2025 from $10.9 billion in 2017. Data from the e-Conomy SEA report The crux of its problem is that online sellers who use Lazada, Shopee or other platforms that are forgoing profit in order to grow, are ironically less able to scale their business since there are few ‘e-commerce friendly’ financing options. That problem became apparent to Aspire founder and CEO Andrea Baronchelli during a four-year stint with Lazada Singapore where, as CMO, he identified a financing disconnect for Lazada merchants. “I saw the problem while trying to rally small businesses trying to grow in the digital economy,” Baronchelli told TechCrunch in an interview. “The problem is really about providing working capital to small business owners. We started with online sellers, but we have expanded a bit as we see demand. There are 65 million small businesses in Southeast Asia, that’s ten times more than the U.S. so we see so much potential,” he added. Aspire founder and CEO Andrea Baronchelli pictured while at Lazada Today, Aspire Capital covers Singapore where it has expanded beyond e-commerce merchants to cover other things of SMEs who seek loans, primarily for working capital as Baronchelli explains.

Read More »

The crypto world’s latest hack sees Israel’s Bancor lose $23.5M

Bancor , a crypto company that touts a decentralized exchange service, has lost some $23.5 million of cryptocurrency tokens belonging to its users following a hack. The Israel-based company raised over $150 million in an ICO last year and its services include a wallet with a built-in exchange service . Today, Bancor said in a statement that “a wallet used to upgrade some smart contracts was compromised.” As a result, the attackers made off with $12.5 million in Ether, $1 million in Pundi X’s NPXS token and $10 million in Bancor’s BNT. Bancor said it has frozen the BNT, but it is unable to do the same to the other tokens. The company added that it is communicating with a number of exchanges in a bid to “make it more difficult for the thief to liquidate” the stolen tokens, but it remains to be seen how successful those efforts will be. Following the incident, Bancor has taken its exchange offline while it conducts an investigation. There’s no word on when it will resume operations. Critics on Twitter, including Litecoin creator Charlie Lee pointed, out that the irony that Bancor, which claims to be decentralized, responded to the hack with strategies aligned to a centralized system. A Bancor wallet got hacked and that wallet has the ability to steal coins out of their own smart contracts. An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization. https://t.co/22UYygIhEF — Charlie Lee LTC (@SatoshiLite) July 10, 2018 Speaking at TechCrunch’s Blockchain event last week,  Ethereum creator Vitalik Buterin said centralized exchanges should “go burn in hell” . Buterin’s disdain is mainly focused on greed since centralized exchanges demand large fees up front to list tokens, but given the regularity that exchanges are hacked for large sums of tokens owned by their users — seemingly monthly, if not weekly — security is another issue on the table. In a further piece of irony, Bancor voiced support for Buterin’s comments just days before its service was hacked

Read More »

Early uses of blockchain will barely be visible, says Hyperledger’s Brian Behlendorf

The blockchain revolution is coming, but you might not see it. That’s the view of Brian Behlendorf, executive director of the Linux Foundation’s Hyperledger Project. Speaking at the TC Sessions: Blockchain event in Zug, Switzerland, Behlendorf explained that much of the innovation that the introduction of blockchains are primed to happen behind this the scenes unbeknownst to most. “For a lot of consumers, you’re not going to realize when the bank or a web form at a government website or when you go to LinkedIn and start seeing green check marks against people’s claims that they attended this university — which are all behind-the-scenes that will likely involve blockchain,” Behlendorf told interviewer John Biggs. “This is a revolution in storage and networking and consumers.” As for where blockchain might make a big impact, Behlendorf said he believes that the area of online identity is particularly ripe for change. Rather than relying on central systems such as Facebook or Twitter to hold information, blockchain solutions can potentially store information more securely and with more utility thanks to self-sovereign ID systems. “That’s what gets me up in the morning more than almost every other use case,” Behlendorf said. “I think we’ve got something of a solution but’s only going to work if the end user experience of managing your identity and your personal data is made easy and made fluid. It has to feel something like your wallet when you pull out your driver’s license and show it.” Hyperledger is providing the framework and tools that the foundation hopes will enable innovation in the blockchain space, and Behlendorf said that it currently has around 10 code bases, of which two are in production use with eight additional frameworks to build blockchains. He added that there are more options coming, thanks to Hyperledger focus on “organic” development ideas. It might seem like an irony that blockchain projects, which can raise enormous amounts of money via token sales, are basing the technologies that power their businesses on open source tools, but Behlendorf said there’s nothing new in that situation versus how the Linux Foundation traditionally operates. “There might be a few developers who get involved to improve their skills and reputation but the vast majority work on it because their business is investigating it, wants to use it or to do a pilot, so they have a responsibility to make sure it works,” Behlendorf explained. “For them, knowing other companies are using it and making a profit is fine,” he added. “In fact, it’s a good thing.” Community spirit is very much the focus, and Hyperledger has had to intervene in the rare cases that members have taken things too far. “What you want to protect against is any one company benefitting from the brand or reputation that the community creates in a way that is unfair

Read More »

Crypto Visa card company Monaco just spent millions to buy Crypto.com

Highly-prized domain name Crypto.com has been sold! Registered in 1993 by Matt Blaze , a professor of computer and information science at the University of Pennsylvania who sits on the board of directors of the Tor Project, the domain has attracted a vast amount of interest as you’d expect given the explosion of crypto in recent years. However, Blaze has turned down all offers. In January, Blaze repeated that the domain was “not for sale” and that people shouldn’t both to contact him — as The Verge noted —  however fast forward to July and he has parted with it after Monaco, a crypto project best-known for developing a crypto debit card, bought the domain in an undisclosed deal. Experts told The Verge that Crypto.com could have attracted as much as $10 million, however Monaco CEO Kris Marszalek declined to go into the specifics. “If it was only about money he’d have sold it a long time ago,” he told TechCrunch in an interview. Hong Kong-based Monaco’s ICO finished in June 2017 with the company raising what was then worth $25 million in crypto. Fast forward today and Marszalek said the firm has close to $200 million on its balance sheet thanks to a surge in the valuation of cryptocurrencies like Ether, but he suggested that, more than money, the sale was about finding the right home for the domain. “This is a very powerful identity that we are taking on. It’s representative of the entire category so it comes with a huge responsibility on us to carry the torch. We don’t take it lightly and this is one of the things that I think we conveyed successfully, that, as a company, we do have a higher purpose,” he said. “Fundamentally, blockchain and crypto will enable the next generation to control their money, to control their data and to control their identity, these are the three fundamental things that weave the fabric of society. For us this is the purpose, we want to acceleration the world’s adoption of cryptocurrency,” he added. The splashy purchase of the domain is part of a rebrand for Monaco that will see the parent company become Crypto.com and its Monaco services — which the upcoming Visa card, peer-to-peer transfer and a wallet app — become MCO, the same name as the company’s cryptocurrency. The Monaco card itself just entered testing for a small group of users, primarily the MCO team, and Marszalek said it will be available for all customers in Singapore and Europe this summer, with a rollout for those in the U.S.

Read More »

Singapore’s Homage, which matches patients and caregivers, raises $4.15M for expansion

Homage , a Singapore-based startup that helps connect caregivers and organizations with patients and their families, has raised $4.15 million as it begins to eye overseas expansions. The company was started in 2016 by Gillian Tee, a Singaporean who spent time working in the U.S., healthcare industry exec Lily Phang and former banker Tong Duong. Tee’s previous stints include founding Rocketrip, a startup backed by Y Combinator that has raised nearly $20 million, but she moved home after 15 years to be closer to her family. The goal of Homage is to make it easier for caregivers and patients to connect, whilst also keeping their families updated. “We’re realizing how much of a need there is for personalized one-on-one care,” Tee told TechCrunch in an interview. “A lot of what we do is actually non-medical, and it’s even more clear that need to help people be mobile, be functional and have the choice to live with dignity as they age.” Homage raised $1.2 million a year ago , now this new round is jointly led by existing backer Golden Gate Ventures and new investor HealthXCapital. Other participants in the round included returning investors SeedPlus, Juha Paananen (CEO of Nonstop Games, acquired by King.com), and former JobsCentral execs Lim Dershing (CEO) and (co-founder) Huang Shao Ning. Tee, the Homage CEO, said the company is ramping up as it sees increased demand for its services. Homage began focused on caregiving for aging patients, but it has since expanded to cover areas such as physiology, speech and occupational therapy — areas for post-strike discharge. It also offers six different apps, which include two for caregivers, two for family members and two for partners, such as NGOs and other care agencies. Tee said the plan is to use this new capital to push into other verticals and offer new services where there is demand from patients and caregivers, but Homage is also looking overseas for potential expansion for the first time. “The focus is on Singapore but we’re looking at one other market in APAC,” she said. “We’re not quite decided on which one that’ll be but we see that across Asia this is something that’s very much needed.” Along the way, Homage has also received praise from a very high level in Singapore: none other than prime minister Lee Hsien Loong. On National Day Rally, August 20 2017, the PM praised Homage for tapping the rise of on-demand apps like Uber and said he hopes that “more companies and government agencies will learn from Homage in using IT to improve lives.”

Read More »

WhatsApp copies Telegram to add one-way ‘broadcast’ mode to group chats

“Good artists borrow great artists steal” is a phrase that Facebook seems acutely aware of. It’s common to speak of Instagram, the Facebook-owned photo-app-now-social-network, borrowing from Snapchat, but now Facebook’s WhatsApp chat app is increasingly drawing its innovation from others such as Telegram. This week, WhatsApp outed a new feature for its groups that is essentially a replica of Telegram’s channels — that is, a one-way broadcast communication stream. Telegram channels are popular for setting up a broadcast news feed that allows people to sign up to get alerts from channel admins, who might be news agencies, companies, schools, public interest groups or more. Now WhatsApp is adding the feature to gives its message app new use cases. Actually, as is often the case for WhatsApp, users have unofficially adopted channel-like behavior for some time. Last year, for example, there were reports of a rural journalist using the messaging app to report and broadcast local news . Doing that is suddenly a whole lot easier through this new ‘broadcast-only’ feature. “One way people use groups is to receive important announcements and information, including parents and teachers at schools, community centers, and non-profit organizations. We’ve introduced this new setting so admins can have better tools for these use cases,” WhatsApp wrote in a short blog post.

Read More »

India’s Cashify raises $12M for its second-hand smartphone business

Cashify , a company that buys and sells used smartphones, is the latest India startup to raise capital from Chinese investors after it announced a $12 million Series C round. Chinese funds  CDH Investments and Morningside led the round which included participation from  Aihuishou , a China-based startup that sells used electronics in a similar way to Cashify and has raised over $120 million. Existing investors including Bessemer Ventures and Shunwei also took part in the round. This new capital takes Cashify to $19 million raised to date. The business was started in 2013 by co-founders Mandeep Manocha (CEO), Nakul Kumar (COO) and Amit Sethi (CFO) initially as ‘ReGlobe.’ The business gives consumers a fast way to sell their existing electronics, it deals mainly in smartphones but also takes laptops, consoles, TVs and tablets. “When we began we saw a lot of transaction for phone sales moving from offline to online,” Manocha told TechCrunch in an interview. “But consumer-to-consumer for used devices is highly opaque on price discovery and you never know if you’re making the right decision on price and whether the transaction will take place in the timeframe.” These days, the company estimates that the average upgrade cycle has shifted from 20 months to 12 months, and now it is doubling down. With Cashify, sellers simply fill out some details online about their device, then Cashify dispatches a representative who comes to their house to perform diagnostic checks and gives them cash for the device that day. The startup also offers an app which automatically carries out the checks — for example ensuring the camera, Bluetooth module, etc all work — and offers a higher cash payment for the user since Cashify uses fewer resources.   A sample of the Cashify Q&A for selling a device. Beyond its website and app, Cashify gets devices from trade-in programs for Samsung, Xiaomi and Apple in India, as well as e-commerce companies like Flipkart, Amazon and Paytm Mall. Used device acquired, what happens next is interesting. The startup has built out a network of offline merchants who specialize in selling used phones

Read More »

Tencent becomes a Linux Foundation platinum member to increase its focus on open source

Tencent, the $500-billion Chinese internet giant , is increasing its focus on open source after it became a platinum member of the Linux Foundation . The company has long been associated with the foundation and Linux generally, it is a founding member of  the Linux Foundation’s deep learning program that launched earlier this year , and now as a platinum member (the highest tier) it will take a board of directors seat and work more closely with the organization. That works two ways, with Tencent pledging to offer “further support and resources” to foundation projects and communities, while the Chinese firm itself will also tap into the foundation’s expertise and experience. Along those lines, the company said it will contribute its open source microservices project called TARS and an open source name service project (Tseer) to The Linux Foundation. It added that an open source AI project — Angel — will be contributed to the deep learning foundation. “We are honored to be a Platinum member of The Linux Foundation. Open source is core Tencent’s technical strategy,” Liu Xin, general manager of Tencent’s Mobile Internet Group said in a statement. Other platinum members include Cisco, Huawei, Microsoft, AT&T, Samsung and IBM. Earlier this year, Tencent joined another open source industry body —  the Open Compute Project (OCP) community — as part of a push for open source in the hardware space. Tencent’s chief rival Alibaba also maintains a large presence in the open source community. Alibaba is a gold member since last year , but more than that it has invested resources into projects directly as part of a push for its cloud computing service Alicloud. The Chinese firm led a $27 million investment in MariaDB , which became its first cloud investment outside of China. At home, its Alicloud-focused deals have  included investments in cloud storage provider Qiniu and big data firm Dt Dream.

Read More »

Singapore-based game studio Mighty Bear raises $2.5M ahead of debut release

Mighty Bear, a game studio startup that grew out of King.com’s former office in Singapore, has landed new funding as it readies its debut title for smartphones. The startup was founded by four former King.com staffers — Simon Davis, Fadzuli Said, Benjamin Chevalier and Saurabh Shukul — after the gaming giant closed its Singapore office — inherited via the acquisition of Non Stop Games — following  its $5.9 billion acquisition by Activision . Today, Mighty Bear’s team of 18 counts experience working with Ubisoft, EA, Lucasarts, Disney, Gameloft and others. The startup previously raised $775,000 in a pre-seed round in early 2017 , and this time around it has pulled in a seven-figure USD investment. The deal is officially undisclosed, but a source with knowledge of discussions told TechCrunch it is worth around $2.5 million. The deal was led by U.S.-based Skycatcher, New York hedge fund banker Eric Mindich’s Everblue fund, and M Ventures from Los Angeles. Others in the round include Singapore’s Atlas Ventures, Lev Leviev — who is co-founder of VK.com among other things — and existing backer Global Founders Capital, which is affiliated with Rocket Internet. “We’ve already got a good set of investors from Europe and Asia so we realized we needed networks in North America, too,” Mighty Bear CEO Simon Davis told TechCrunch in an interview. Davis added that, beyond extending their reach for purposes like hiring, partnerships and more, they open up the potential for IP and media deals further down the road. First thing first though: Mighty Bear is working to launch its first title, which Davis said will be an MMORPG. Right now, it is being secretly tested for scalability and technical capabilities among users in India and the Philippines with a view to a full launch on iOS and Android later this year. Davis said the company plans to launch another title, too, with both games managed concurrently

Read More »

India’s budget hotel network unicorn OYO expands into China

The tech world sees plenty of Chinese companies move into India — including the likes of Alibaba and Xiaomi — but few expand the other way. OYO Rooms , the billion-dollar Indian startup that pioneered budget hotel networks, is looking to buck the trend, however, after it launched operations in China. Today the company officially announced its arrival in China, where it says it covers 11,000 (exclusive) rooms across 26 cities, including Hangzhou, Xian, Nanjing, Guangzhou, Chengdu, Shenzhen, Xiamen and Kunming. That selection includes a combination of franchises and managed hotels. OYO is initially launching its ‘hotels’ product, and it isn’t saying whether others — which include ‘rooms’ and ‘townhouses’ — will also expand to China. Interestingly, an OYO representative confirmed that this expansion wasn’t conducted in partnership with China Lodgings, the Nasdaq-listed hotel firm that invested $10 million in the startup last year . OYO said China Lodgings is assisting with the overall strategy in China, however. Make of that what you will. OYO — which stands for On Your Own — was founded in 2013 by then-teenager Ritesh Agarwal, a Thiel Fellow who got the idea for the business after a stint backpacking across India staying budget hotels. The service helps bring the long-tail of small hotels online to generate bookings whilst also ensuring (often absent) minimum standards for travelers, such as hot water, clean towels and linen and Wi-Fi. The company counts SoftBank among its backers and it has raised over $450 million in capital to date , including a $250 million round led by SoftBank’s Vision Fund last year.

Read More »

China’s Didi Chuxing continues its international expansion with Australia launch

Didi Chuxing, China’s dominant ride-hailing company, is continuing its international expansion after it announced plans to launch in Australia this month. The company — which bought Uber’s China business in 2016 — said it will begin serving customers in Melbourne from June 25 following a month-long trial period in Geelong, a neighboring city that’s 75km away. The business will be run by a Didi subsidiary in Australia and it plans to offer “a series of welcome packages to both drivers and riders” — aka discounts and promotions, no doubt. It began signing up drivers on June 1, the company added. The Australia launch will again put Didi in direct competition with Uber, but that is becoming increasingly common, and also Ola and Didi which both count Didi as an investor — more on that below. This move follows forays into Taiwan, Mexico and Brazil this year as Didi has finally expanded beyond its China-based empire. Didi raised $4 billion in December to develop AI, general technology and to fund international expansion and it has taken a variety of routes to doing the latter. This Australia launch is organic, with Didi developing its own team, while in Taiwan it has used a franchise model and it went into Brazil via acquisition, snapping up local Uber-rival 99 at a valuation of $1 billion . It is also set to enter Japan where it has teamed up with investor SoftBank on a joint-venture . “In 2018, Didi will continue to cultivate markets in Latin America, Australia and Japan. We are confident a combination of world-class transportation AI technology and deep local expertise will bring a better experience to overseas markets,” the company added in a statement. This international expansion has also brought a new level of confusion since Didi has cultivated relationships with other ride-hailing companies across the world while also expanding its own presence internationally. The Uber deal brought with it a stock swap — turning Didi and Uber from competitors into stakeholders — and the Chinese company has also backed Grab in Southeast Asia, Lyft in the U.S., Ola in India, Careem in the Middle East and — more recently — Taxify, which is primarily focused on Europe and Africa. In the case of Australia, Didi will come up against Uber, Ola — present in Melbourne, Perth and Sydney via an expansion made earlier this year  — and Taxify, too.

Read More »

Coinbase opens its crypto index fund to accredited U.S. investors

Fresh from revealing plans to add Ethereum Classic to its exchange , crypto giant Coinbase today announced that its  cryptocurrency index fund — first revealed in March — is open to investors in the U.S. . The company said in a blog post that it has see “overwhelming” interest from investors, and now it is reaching out to those who want to invest between $250,000 and $20 million. For now, the company said, participation is limited to the U.S. and those who are accredited investors. That’s a pretty big caveat since crypto, by default, is open to anyone — although many ICOs tread carefully in markets like the U.S. —  but Coinbase is very specifically target institutional capital, having recently added services for Wall Street-like professional investors . The pitch is that it knows the market, its service covers the most stable assets and it won’t charge the kind of rates that existing funds do, as Coinbase CEO Brian Armstrong explained on Twitter. Investing in Coinbase Index Fund is the easiest way to get exposure to a broad range get of crypto assets. Much cheaper than 2 and 20% charged by most crypto hedge funds, and you get new assets automatically added to the fund as they become available on Coinbase. No rebalancing. https://t.co/TyOnDuFMT9 — Brian Armstrong (@brian_armstrong) June 13, 2018 Here’s more: Coinbase Index Fund gives investors exposure to all assets listed on our exchange, weighted by market capitalization

Read More »