Have you got a great idea in crypto? Then perhaps you should contact the Winklevoss brothers that are ready to invest up to 300M USD in a new crypto fund.
CMCC global is a reputable Hong Kong-based venture capital firm. This firm is planning to raise $300 million in a crypto fund which has attracted investors like the Winklevoss twins and Richard Li. In one of the interviews, Charlie Morris, one of the founders, said that a good portion of this fund will be dedicated to decentralized finance and non-fungible token (NFT). Markus from Crypto Lists explores more!
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Past successes
In 2016 CMCC global was among the lead investors in Solana’s blockchain platform. This company invested $1 million on a private token in 2018. Back then, a share was going for 20 cents, a couple of years later, Solana was among the sixth-largest cryptocurrency, and its share has hit $200.
Besides, it is said that CMCC global has raised almost $90 million in asset management in their quest to raise $300 million. This guide explores Winklevoss CMCC Global Invests 300M in a new crypto fund.
Why the Winklevoss brothers got involved
Cameron and Tyler are crypto pioneers and bitcoin billionaires, known as the Winklevoss twins. They received their first “big money” – about $120 million – in 2008, after a Facebook settlement was paid out in FB shares. Their journey offers a valuable lesson on how you can safely invest in cryptocurrency as a long-term investment. The following points answer why Winklevoss invested so in much crypto fund.
They opted for long term investment
It is easy to lose and get into a frenzy Amid the crypto gold rush. That is why when investing in crypto is important to keep in mind that they are highly volatile. The twin brothers choose to hold on to their bitcoin during the high and lows to caution their investment from panic selling. For instance, in April 2013, just after the duo had bought $ 11 million worth of bitcoin they experienced the first dip, and the price fell from $180 to $80.
The only time this brother sold their bitcoin was when they were setting up Gemini. A good takeaway is to constantly invest in Cryptocurrencies that you believe will perform better in the long term. That way, you insulate your asset against any short-term fluctuation.
They have a reliable crypto exchange
The brother encounters a criminal who stole some of their coins early on. It is advisable to go for reputable cryptocurrency exchanges that sell crypto safely and cheaply. As a result, Winklevoss started Gemini, a firm that built its reputation as a safe place to purchase, sell, and store your cryptocurrency. This firm was the fast to be licenced by the NYSDFS in the U.S., and New York. The firm is known for its tuff crypto regulations.
The flexibility and independent trading
Crypto markets are accessible at any time of the day; during the day and at night. This gave the Winklevoss brothers ample time to invest and organize their trade. Also, they understood the technology behind the asset and the risk the trade entailed.
Awareness
The twin brothers chose to invest with CMCC because their track record on the fund approach is impressive and speaks for itself.
Transparent and secure
The twin brothers knew that cryptocurrencies are transparent and use verifiable public technology. The brothers new crypto is a valuable source of saving when you retire. That is why investing in crypto is good for long-term investment irrespective of their volatility.
What is the fund all about?
The firm intends to use part of this fund in decentralized finance and non-fungible tokens. Charlie Morris, one of the managing partners and a co-founder of CMCC global, see the infrastructure as mature at a level it can absorb and accommodate the new application.
Furthermore, the firm plans to obtain a license from the local regulators; the Hong Kong securities to launch a new crypto equity fund. It is also trying to clear licensing hurdles to run its bitcoin passive tracker fund initiated in 2019 and is currently estimated to be around $15 million in assets in the Asian financial fund.
What else do the Winklevoss bros invest in?
In 2008 the two brothers reached a sixty-five million dollars deal where Zuckerberg was paying them using Facebook shares and cash. The brothers accused him of copying their idea on some of the code they paid him to create. In 2012 they co-founded Winklevoss capital, which provided ventures to early-stage firms. This firm has invested in more than 100 projects, and in its portfolio, it focuses on 20 crypto-focus investments.
In April 2013, the twin brothers bought bitcoin worth $ 11 million through their Winklevoss capital. This action generated a rumour that the duo owned 1% of the bitcoin in circulation.
Besides, in 2014 the twin founded the Gemini, a cryptocurrency exchange. Gemini was built on a reputation as the safest place where you can store, buy and sell your crypto. Winklevoss capital invested in BlockFi in 2019. This was the first firm to initiate crypto lending in the U.S. In the same year, Gemini bought a nifty gateway, a platform that deals with non-fungible tokens. Lastly, Gemini and BlockFi are set to open their crypto credit card this year. These crypto credit cards will enable an investor to earn potential trading discounts.
Conclusion
CMCC global firm is targeting to raise $300 million worth of investment for its latest fund. This action has seen it been supported by the Winklevoss twins and Richard Li, a tycoon in Hong Kong.
The fund is invested in the Defi (decentralized finance) and the NFTs (non-fungible tokens). Also, the CMCC group has backed other blockchain projects like Terra and Cosmos.
