Sydney-based next-generation asset manager Holon Global Investments is partnering with the Gemini Exchange to launch a fund giving them exposure to the cryptocurrency Filecoin, a decentralised network for data storage.
The Holon Wholesale Filecoin Fund is seeking to raise $25 million over three months, funds it will use to buy Filecoin tokens and loan them to Holon Global Innovations, a subsidiary of Holon Global Innovations.
Holon Innovations will use the Filecoins as collateral to develop a decentralised cloud data storage business.
At fund maturity in five years, the company will give the fund two Filecoins for each one that it has borrowed. Holon is also paying all fund structure costs and isn’t charging a management fee.
“The fund allows sophisticated Australian investors to get in on the ground floor of the world’s biggest start-up,” said Heath Behncke, Holon Global managing director.
New data models like Filecoin are a more efficient way of moving data around the internet, Holon said.
Gemini, the regulated New York exchange started by twins Cameron and Tyler Winklevoss, is providing the fund with institutional-grade crypto storage and security.
The fund is open to high net worth, family office and institutional investors with a $20,000 minimum investment.
Filecoin tokens were changing hands at US$54.83 yesterday, giving the token a market cap of US$5.2 billion and making it the No. 25 crypto.
Binance donates oxygen tanks to Indonesia
Binance Charity has shipped two liquid oxygen tanks – the equivalent of 5,000 cylinders – to Jakarta as Indonesia deals with a surge of infections from the Delta variant.
“We are deeply saddened to see the people of Indonesia experience their hardest hit month yet,” said Helen Hai, head of Binance Charity. “We stand by them and offer our support in overcoming this. Brighter days will come.”
Binance Charity has also donated US$ 1 million to support COVAX, the international vaccine programme. The charity run by the crypto juggernaut hopes by year-end to deliver vaccines sources by COVAX to 250,000 people in 11 countries: Ghana, Nigeria, Kenya, Uganda, Egypt, Indonesia, the Philippines, Vietnam, Bangladesh, Ukraine and Brazil.