Morgan Creek seeks to raise $500 million for cryptocurrency hedge fund. The Morgan Creek Capital has announced that the Chapel Hill, North Carolina-based firm is seeking to raise up to $500 million to start a new hedge fund focused exclusively on cryptocurrencies and other blockchain-related investments. For that purpose, Morgan Creek has acquired Full Tilt Capital - a venture firm that recently launched a fund dedicated wholly to cryptoassets.
Ford to use cryptocurrency for traffic control system. Ford Global Technologies, LLC, a subsidiary of Ford, has received a patent for a system which facilitates cars on road to communicate with each other using cyrptocurrencies and reduce traffic. The patent titled “Vehicle-to-Vehicle cooperation to marshal traffic” focuses on ways to alleviate traffic congestion, proposing that communication to coordinate speeds between vehicles can counteract, in part, with the psychology of human drivers who focus on their individual travel time preferences.
Nvidia CEO blames Ethereum miners for GPU shortage. Nvidia CEO Jensen Huang has blamed Ethereum (ETH/USD) miners for the shortage of graphics processing units (GPUs). Speaking to a group of journalists following his keynote address at at Nvidia’s GTC conference, Huang stated that Nvidia is not in the business of cryptocurrency or distributed ledgers.
81% of ICOs are scam, study says. A study conducted by Satis Group, the premier ICO Advisory Group, says 81 percent ICOs are scams, and only 1.6 percent of them are promising. The group classified initial ICOs with market capitalizations of at least 50 million USD by quality, following an ICO’s evolution from white paper, fundraising, to eventual trading online. The study begins by breaking down ICOs into 6 groups: Scam, Failed, Gone Dead, Dwindling, Promising, Successful.
The total cryptocurrency market capitalization stands at $299 897 290 523
For the full list of ongoing ICOs click here.