Bitwise Asset Management, a cryptocurrency index fund manager, has completed a $70 million Series B financing round led by Elad Gil and Electric Capital.
New backers included Daniel Loeb’s Third Point, Daniel Och’s Willoughby Capital, Louis Bacon’s Moore Strategic Ventures, Paul Eisenstein’s Vetamer Capital, and Coinbase Ventures, as well as individual investors Henry Kravis and Stanley Druckenmiller.
Bitwise expects to use the financing’s proceeds to strengthen its balance sheet, accelerate the national buildout of its organization, team and product suite, and “cement our position as the premier crypto partner for professional investors,” Bitwise CEO Hunter Horsley said in a release.
Bitwise said it is currently profitable and has more than $1.2 billion in assets under management.
Meanwhile, DPL Financial Partners adds two annuity executives and Prime Capital Financial hires a Mid-Atlantic retirement plan consultant
Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.
Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL
Celebrity endorsements, $500M in claimed assets, and a state regulator stepping in.
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