News
Each day, DailyAlts tracks major developments across the alternative investment world. Our content is procured from primary contacts in the industry and secondary sources across the web. Our goal is to give readers the most up-to-date news and engaging experience to open new doors and areas of knowledge. Our stories cover nine separate verticals of the alternative investment industry.
Top Story
Russia’s crypto mining industry is in expansion mode after China’s clampdown on its crypto miners. Also wanting to join the party are Russian oil and gas companies that flare, or burn off, the natural gas released from their drilling operations. Known as “associated petroleum gas,” this is burnt if it cannot conveniently or economically be piped to a utility. The drillers want to use this flared gas, also a source of emissions, as an energy source for crypto mining data centers.
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Artificial Intelligence: Rossum, The Document AI Company, Raises $100M
Rossum offers an end-to-end AI document processing solution that combines its cognitive data capture platform with a full suite of integration capabilities to automate document-based communications between diverse businesses. The startup announced this week its $100 million Series A raise from General Catalyst with participation by existing investors including LocalGlobe, Seedcamp, Miton and Elad Gil.
Alternative Investments/ESG: New York Life Floats ETFs For Gender Equality, Clean Oceans, Cleaner Transport
The three thematic ETFs meet investor demand for ESG approaches. IndexIQ, the New York Life Investments company, announced Wednesday the launch of three new ETFs. The IQ Engender Equality ETF (EQUL), IQ Clean Oceans ETF (OCEN), and IQ Cleaner Transport ETF (CLNR) represent an expansion of IndexIQ’s Dual Impact family of thematic investment strategies. (ETF…
FinTech: Wells Fargo Invests $10M In Cloud Payments Provider Volante
Volante Capital, a provider of cloud payment services and financial messaging, announced Wednesday an investment of $10 million by Wells Fargo Strategic Capital. Wells Fargo joins Wavecrest Growth Partners, BNY Mellon, Citi Ventures, PostePay and Visa Inc, the investors in Volante’s previous $35 million round held in August 2020.
Digital Assets: Short Seller And Forensic Finance Research Firm Hindenburg Offers $1M Bounty On Tether
Shortly after the US Commodity Futures Trading Commission (CFTC) ordered Tether to pay $41 million to settle charges for maintaining inadequate dollar reserves on its stablecoin, short-seller Hindenburg Research announced a $1 million bounty for information leading to previously undisclosed details about Tether’s financial reserves.
Venture Capital: Flock Freight, Which Uses AI To Pool Shipments, Nabs $215M
Flock Freight uses AI algorithms to optimize shipments, routes and vehicles. Its FlockDirect cloud-based product guarantees shippers shared space on a truckload by combining multiple shipments that are moving along the same route into one shared truckload. The system bypasses the inefficient Less-Than-Truckload (LTL) hub and spoke system. The company raised $215 million in a Series D that valued it at $1.3 billion and was led by existing investor Soft Bank Vision Fund 2.
Alternative Investments/Digital: Bitcoin Futures ETFs By Vaneck And Valkyrie Set To Launch
Wealth manager Vaneck has won SEC approval to launch a bitcoin futures ETF after October 23, according to a post-effective filing with the U.S. Securities and Exchange Commission. This is the second such ETF to be cleared after the ProShares bitcoin ETF (NYSEArca: BITO), and will trade under the moniker XBTF.
Artificial Intelligence: Ai-Da, Humanoid And Ultra-Realistic Artist, Detained By Egyptian Security
Ai-Da draws using using cameras in her eyes, her AI algorithms, and her robotic arm. Glamorous-looking Ai-Da, a creation of Oxford-based Aidan Meller, is the world’s first ultra-realistic humanoid AI robot artist. She may also be the first robot artist to be at the center of a diplomatic row. En route this week to the…
FinTech: PayPal Looking To Acquire Pinterest At $70 Per Share
PayPal Inc (NASDAQ: PYPL) sounded out Pinterest (NYSE: PINS) recently on a takeover, Bloomberg reported. The two companies are said to have considered a potential price of $70 per listed Class A share.
Venture Capital: News From All Over
UP.Partners, a transportation-focused venture firm backed by investors including Alaska Air Group, ARK Invest Founder and CEO Cathie Wood, and Toyota subsidiary Woven Capital, announced its close of the inaugural $230 million early stage venture capital fund.
Digital Assets: Bitcoin At Fresh All Time High, Scales $66K
Bitcoin surged to a new all-time high of $66,283.96 today, driven higher by investors’ enthusiasm over the launch Tuesday of the first-ever bitcoin futures ETF on the NYSE. The leading crypto had previously touched a peak of $64,895 in April this year.
Alternative Investments/ESG: Alpha Architect Mulls ETF For Companies Led By High-Character CEOs
If you like CEO’s that have high character, a clean non-controversial record, and achieved solid financial returns for their company’s shareholders with a focus on ESG, you’re in luck. You can now invest in companies led by such CEOs though Alpha Architect’s Return on Character ETF.
Artificial Intelligence: Investors Use NLP To Analyze CEO-Speak
In 2020 an algorithm that was designed to spot hidden clues in spoken words pinpointed hesitant uncertainty in the words of IT executives discussing supply chain outages and a shortage of semiconductor chips. Though they maintained that all was fine, the algo didn’t think so.
Alternative Investments/Digital: Encouraged By BITO, Grayscale Files To Convert GBTC Into An ETF
Grayscale Investments LLC, together with the NYSE, has filed with the SEC to convert the Grayscale Bitcoin Trust (GBTC) into a physical bitcoin ETF. They applied on the same day that the first bitcoin futures ETF, the ProShares Bitcoin Strategy ETF (NYSEArca: BITO) opened for trading.
Digital Assets: Interactive Brokers Launches Crypto Trading For Financial Advisers In The U.S.
Interactive Brokers (NASDAQ: IB) has launched a crypto trading service for RIAs to manage clients’ crypto portfolios. Advisers can now trade and custody bitcoin (BTC), ethereum (ETH), litecoin (LTC) and bitcoin cash (BCH) via Paxos Trust Company on behalf of clients. These crypto assets can be traded off the same, single screen that displays stocks, options, futures, bonds, mutual funds and ETFs from all over the world.
FinTech: German Fintech And Banking Challenger N26 Raises $900M At $9B Valuation
N26 GmbH, the German fintech that is challenging banks on their turf, announced Monday a raise of over $900 million in a round led by Third Point Ventures and Coatue Management, with participation by Dragoneer Investment Group as well as existing N26 investors. N26 said the “record-breaking” round valued it at more than $9 billion, placing it within the top 20 global fintechs, and the most valuable one in Germany.
Venture Capital: Delivery Hero Takes $235M Chunk Of Gorillas’ $1B Funding Round
Delivery Hero now owns about 8% of Gorillas. Delivery Hero (ETR: DHER), which is headquartered in Berlin, Germany and offers its local delivery services in over 50 countries around the globe, announced today its investment of US$235 million in the Berlin-based on-demand delivery start-up Gorillas Technologies via the latter’s series C funding round. Delivery Hero…
Artificial Intelligence: Roche And Ibex To Collaborate On AI-Based Digital Pathology
Roche (SWX: RO), the global giant in pharmaceuticals and diagnostics, and Ibex Medical Analytics, a global leader in artificial intelligence (AI)-based cancer diagnostics, will collaborate on the development of AI-based digital pathology tools.
Venture Capital: Remote Hiring Platform Deel Nets $425M Series D
Remote and international hiring startup Deel has raised $425 million in a Series D round led by Coatue with participation from Altimeter Capital, Andreessen Horowitz, Spark Capital, and other investors.
FinTech: Virgin Money Offers Free ESG-Tracking App And Sustainability Loans To UK Businesses
The Virgin Money Sustainability Business Coach is a free app available to all UK businesses, not just Virgin Money customers, designed to help them with sustainability goals by measuring, tracking, and offering guidance on improving their Environmental, Social, and Governance (ESG) credentials.
Artificial Intelligence: Duke Scientist Cynthia Rudin Wins $1M Prize For Socially Responsible AI
Duke University computer scientist Cynthia Rudin has been awarded the AAAI Squirrel AI Award for Artificial Intelligence for the Benefit of Humanity. She becomes the second recipient of the $1 million award. It recognizes her for “pioneering scientific work in the area of interpretable and transparent AI systems in real-world deployments, the advocacy for these features in highly sensitive areas such as social justice and medical diagnosis, and serving as a role model for researchers and practitioners.”
Alternative Investments/Digital: Bitcoin Futures ETF From ProShares To Start Trading Tomorrow On The NYSE [Updated]
By a notice on Form 8-A dated October 15 the US SEC has notified registration of the ProShares Bitcoin Strategy ETF for trading on the NYSEArca Exchange. The notice referred to a post-effective amendment number 238 filed on the same date by ProShares in Form N-1A that states the approximate date of the proposed public offering as October 18, 2021.
FinTech: AeroPay And Jane Tie-Up To Offer Online Payments For Cannabis
AeroPay and Jane Technologies announced Thursday a partnership to enable online payments via AeroPay across 36 U.S. state markets where cannabis is legal. More than 2,100 dispensaries and 300 companies sell through Jane’s online platform.
Digital Assets: BoE Official Likens Crypto To Subprime, Warns Of 2008-Like Crash
In a speech on Wednesday, Jon Cunliffe of the Bank of England called for tough regulations on cryptocurrencies, drawing a parallel between the $1.2 trillion subprime mortgage market in 2008 and the growth of the crypto market from a mere $16 billion five years ago to its $2.3 trillion capitalization today.
Venture Capital: TPG Rise Climate And ADQ To Invest $1B In Indian Group Tatas’ EV Unit
Tata Motors (NSE: TATAMOTORS), the automobile company of the Tatas, the Indian salt-to-airlines business conglomerate, will receive an investment of approximately $1 billion from TPG’s Rise Climate Fund and Abu Dhabi state holding company ADQ in a new EV entity. Tata Motors will invest over $2 billion in the unit.