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Screenshot of a breaking news alert e-mail from Q2 2017
On 28th November, 2017, the founder of TechCrunch, Michael Arrington announced that he will be launching a $100 XRP crypto fund, reported Ripple.
The new fund is called Arrington XRP Capital and is reportedly one of the largest crypto hedge funds in the world, initially starting with $100 million capital and then investing in crypto products and assets over time. The entire fund will be in XRP (ripple).
Ripple is now finding applications in a series of industries from real estate to healthcare, so the announcement that the new hedge fund will be entirely built on XRP is speaking volumes to the qualities ripple provides such as speed, transparency and security of transactions.
According to a report from Ripple, not only does XRP provide much-needed liquidity for cross-border payments, it’s the fastest, most scalable and stable digital asset on the charts — making it the most appropriate for institutional use.
In relation to the new hedge fund, the CEO of Ripple, Brad Garlinghouse said:
“Even though Ripple does not play an official role in the fund, we are glad to see that Michael Arrington is using his legendary entrepreneurial spirit to create one of the largest digital currency hedge funds using XRP.”