Yale University Dives into Crypto by Investing in Two Crypto Focused Funds
One of the most reputed educational institutions Yale University has dived deep into Crypto by investing into two Crypto focused funds this year.
Yale’s Chief Investment Officer David Swensen has invested in Paradigm, a Crypto focused fund started by Coinbase co-founder Fred Ehrsam and former Sequoia capital partner Matt Huang, the university has also taken part in Andreessen Horowitz’s inaugural $300 Million fund which closed in June this year, reports CNBC.
Called as the ‘Warren Buffett’ of Yale, Swensen who manages Yale’s $29.4 Billion endowment has decided to enter the Crypto markets during the Crypto winter by investing in two reputable Crypto funds. The exact amount of contribution from Yale is not known as the university has not yet responded to media outlets.
As reported by Wall Street Journal, Matt Huang quit Sequoia in June to start Paradigm along with Coinbase co-founder Fred Ehrsam and Charles Noyes who previously worked at Pantera Capital. The fund has raised around $400 Million in the past few months.
Previously this year, Economists from Yale had created an analysis report of the ‘risk-return tradeoff’ of various Cryptocurrencies like Bitcoin, Ethereum and Ripple.
This is a significant news as it is a great endorsement to the industry by one of the most reputed institutions which will catch the attention of other institutions to consider Cryptocurrencies. We have seen lots of positive news this year in terms of institutions building infrastructure or larger institutions getting skin in the game.
Although prices may not necessarily reflect the reality, Crypto has never been more legit than now and it will continue to grow as more infrastructure and tools get built around it. It is better to ignore All the noise in the mainstream media about Crypto dying and instead observe the actions of institutions like Yale more carefully.
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Get the latest news on Blockchain only on Blockmanity.com. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Leave a Reply