Cryptocurrency

Algorand

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/skybridge-capital-launches-new-fund-for-algo-coin/" data-wpel-link="internal">SkyBridge Capital Launches New Fund for ALGO Coin</a> 
Cryptocurrency markets require significant actions to ensure a strong entry for <a href="https://en.coin-turk.com/ordinals-adding-extra-data-to-bitcoin-and-creating-nfts-with-privacy/" data-wpel-link="internal">altcoins</a>. Steps such as forming large funds, ETF applications, and trust issuances help altcoins distinguish themselves positively. While Bitcoin surpassed $62,000 at the time of writing, promising news arrived for ALGO Coin. 
<h2 style="text-align: justify" id="algo-coin-news">ALGO Coin News</h2> 
The latest news indicates that the <a href="https://en.coin-turk.com/investors-anticipate-sec-decision-on-ethereum-etfs/" data-wpel-link="internal">altcoin</a> aiming for $0.13 has not yet initiated the massive rally that was anticipated. According to a statement from Algorand and CoinDesk, SkyBridge Capital, founded by Anthony Scaramucci, has raised $100 million for a new Algorand fund, with a target cap of $250 million. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-394425 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/10/ALGOUSDT_2024-10-04_19-58-27.png" alt="" width="1814" height="836"> 
SkyBridge currently holds approximately $700 million in <a href="https://en.coin-turk.com/santiment-report-bitcoin-whales-continue-buying-despite-market-volatility/" data-wpel-link="internal">cryptocurrencies</a>. The announcement was made at the SALT hedge fund conference held in New York today. In the fund application made by First Trust Advisors, SkyBridge Capital will serve as the investment sub-advisor. Scaramucci stated: 
<blockquote> 
 “SkyBridge currently has about $700 million in cryptocurrencies. We are launching an Algorand fund… We are limiting this fund to $250 million, and we have already raised $100 million for it.” 
</blockquote> 
The post <a href="https://en.coin-turk.com/skybridge-capital-launches-new-fund-for-algo-coin/" data-wpel-link="internal">SkyBridge Capital Launches New Fund for ALGO Coin</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

SkyBridge Capital Launches New Fund for ALGO Coin

Table of Contents

COINTURK NEWS

Other articles published on Oct 4, 2024

Market Turbulence: Bitcoin Holds Steady While Altcoins Plunge

Trump Ends SEC Will Explode 19,000% Before Exchange Listings, While Shiba Inu and Dogecoin Lag

Web 3 & AI Investors Continue to Choose Dubai as Their New Home in 2025, But Why?

XRP Price Tanks as SEC Appeals Ruling, But Adoption Grows in Brazil

Aave Gains Institutional Backing as Grayscale Launches Dedicated Fund

SUI price tanks after hitting a six-month high amid market volatility

Join our free newsletter for daily crypto updates!