MakerDAO Invests $500 Million in Treasuries, Bonds

MakerDAO, the governing body of the Maker Protocol, has initiated steps towards a plan of reallocating $500 million of its stablecoin Dai collateral reserves into short-term United States treasuries and corporate bonds, as reported by Cointelegraph. According to Cointelegraph, the decentralised autonomous organization (DAO) voted on October 6 to permit a pilot transaction worth one…

Light Based Quantum Chip Startup PsiQuantum Raises $450M Late Stage Funding Round

PsiQuantum Inc. today said that it has nabbed a $450 million late-stage funding round led by investment firm BlackRock Inc. to finance its efforts to build a reliable quantum computer with more than a million qubits. Qubits are the quantum equivalent of the bits in regular computers. What sets a qubit apart is that it…

Morgan Stanley To Offer Bitcoin Funds Access To Wealthy Clients

Morgan Stanley will offer its wealth management clients access to bitcoin funds, becoming the first major US bank to make such a move. In an internal memo on March 17, Morgan Stanley told its financial advisors it will allow access to three funds that enable ownership of Bitcoin, CNBC reported. The move could potentially help…

The World’s Largest Asset Manager Blackrock Allows Two Of Its Funds To Invest In Cryptocurrency

BlackRock has authorized two of its funds to invest in bitcoin futures, according to filings released Wednesday with the Securities and Exchange Commission. The move allows exposure to cryptocurrencies for clients of the world’s largest asset manager for the first time.The $8.7 trillion asset manager said it could use bitcoin derivatives, among other assets, under…

Big Data Crunching Company Databricks Attracts $1 Billion Funding From Amazon, Google, Microsoft’s Venture Arms

Databricks, a start-up whose software helps companies quickly process large sets of data and get it ready for analysis, said Monday it has raised $1 billion in fresh cash, including from a few prominent corporate investors. Amazon Web Services, Alphabet’s CapitalG venture arm and Salesforce Ventures all joined in, according to a statement. Microsoft, which…

How The Super Wealthy Invest?

Think of the  upper echelons of the money-management business, and the image that springs to mind is of fusty private banks in Geneva or London’s Mayfair, with marble lobbies and fake country-house meeting-rooms designed to make their super-rich clients feel at home. But that picture is out of date. A more accurate one would feature…