ChainCatcher news, citing sources from The Wall Street Journal, reports that the American hedge fund Starboard Value has acquired a stake in Riot Platforms, with specific shareholding details unclear, and is pushing the company to improve its business model.According to reports, Starboard has been urging Riot to convert some of its Bitcoin mining sites into data centers to host machines for large tech companies, providing high-performance computing (HPC).Riot is currently a "pure" Bitcoin miner, with its revenue solely coming from Bitcoin mining, while some of its peers, such as Core Scientific (CORZ), utilize a significant portion of their facilities for HPC and artificial intelligence computing.

ChainCatcher news, multi-strategy hedge fund Citadel founder and CEO Kenneth Griffin stated in an interview that he regrets not investing in Bitcoin early. He believes that cryptocurrencies like Bitcoin are "an intangible asset whose value comes from intangible factors." Part of it is a sense of community belonging, and part of it is a symbol of "anti-establishment." People derive a certain satisfaction from it.During this election cycle, the American people are saying, "I want to have control in my life," and cryptocurrency is part of that.Additionally, regarding Trump's economic policies, Griffin stated that tariff policies are not a major issue because "the BRICS countries will not detach from the dollar in the next four years." At the same time, Griffin believes that the independence of the Federal Reserve is very important for the dollar's status. "I have always publicly supported the opposition between Powell and Trump, not just in recent months, but for many years."

ChainCatcher news, according to Bloomberg, the world's largest hedge funds have fully capitalized on the trading opportunities triggered by Trump's election last month, making the industry poised for its strongest returns in at least four years. Sources revealed that Balyasny Asset Management's hedge fund gained 3.9% for the month, helping to turn its lackluster performance for the year to October into a 11.6% gain.Sources also stated that Schonfeld Strategic Advisors' Fundamental Equity pool and Citadel's Tactical Trading fund also saw gains last month, raising their returns for 2024 to 18.6% and 20% respectively, making them the best-performing multi-strategy hedge funds so far this year.Additionally, a benchmark index tracking 70 multi-strategy hedge funds by PivotalPath is on track to achieve its best performance since 2020.

ChainCatcher News, Hong Kong plans to exempt private equity funds, hedge funds, and ultra-high-net-worth investment vehicles from taxes on cryptocurrency, private credit investments, and other asset returns.This week, the Hong Kong government stated in a 20-page proposal that taxation is "one of the main considerations" for asset management companies when deciding on the location of their business, and the Hong Kong government aims to create a "favorable environment" for them.According to the proposal, the Hong Kong government hopes to expand the scope of tax-exempt investments to include private credit, overseas real estate, and carbon emission allowances. The government is conducting a six-week consultation on the plan.

ChainCatcher news, according to Forbes, securities filing documents show that hedge funds Millennium Management, Capula Management, and Tudor Investment increased their investments in U.S. spot Bitcoin ETFs in the third quarter.Millennium's holdings in iShares Bitcoin Trust more than doubled from the previous quarter to 23.5 million shares, valued at $849 million. It also increased its positions in ARK 21Shares and Bitwise Bitcoin ETFs; London-based macro hedge fund Capula added to its positions in iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund, totaling approximately $600 million; Paul Tudor Jones's hedge fund Tudor significantly increased its investment in iShares Bitcoin Trust, raising its share count fivefold to 4.4 million shares.

ChainCatcher news, the liquidators of Three Arrows Capital (3AC) are attempting to amend their claim against FTX, increasing the claim amount from $120 million to $1.53 billion.The liquidators of 3AC claim that FTX liquidated and seized their assets on the platform two weeks before the hedge fund's collapse to settle a $1.33 billion debt. The hedge fund argues that these transactions were "avoidable and unfair," causing harm to 3AC's creditors. 3AC believes the liquidation should be invalidated, accusing FTX of undervaluing the transactions and breaching trust and contract.The bankrupt hedge fund also claims that FTX delayed providing necessary information, forcing 3AC to parse original data to calculate losses. As a result, 3AC states that it could only confirm the liquidation amount in August. However, FTX responded that an unnamed individual associated with 3AC initiated the asset liquidation. FTX has not identified this person. A court hearing will be held on November 20 to discuss 3AC's motion to amend the claim.

ChainCatcher news, hedge fund manager Nelson Peltz, who supports Trump in this U.S. election, said that the stock market rally driven by the election cannot continue uninterrupted, and he revealed that he was the matchmaker between Trump and Musk. "I'm a matchmaker," Peltz recalled paving the way for Musk. One weekend in 2023, when Musk visited Peltz's home, Peltz also invited Trump to have breakfast together. Peltz said, "Without Musk's help, I don't know if Trump would have achieved such a comprehensive victory." Musk's political action committee spent about $200 million to support Trump.

ChainCatcher news, according to Bloomberg, Brazil's well-known hedge fund Verde Asset Management stated in a report to clients on Monday that the company established a small Bitcoin position before the U.S. presidential election voting on November 5, although the specific size of the position has not been disclosed.The fund is managed by industry veteran Luis Stuhlberger. Data shows that the company's main fund fell by 0.18% in October after fees. In contrast, the CDI interbank benchmark rate rose by 0.93% during the same period, and a basket of local hedge funds increased by 0.29%. So far this year, its performance has outperformed the Anbima hedge fund index by more than two percentage points.Verde currently manages assets of approximately 19 billion reais (3.3 billion USD), down from 20 billion reais a month ago.

ChainCatcher news, according to Jinshi reports, since Trump won the U.S. election, hedge funds that have insisted on shorting Tesla have lost billions of dollars, and Musk's special relationship with Trump has impacted them.Calculations based on data compiled by S3 Partners show that from election day to last Friday's close, hedge funds holding short positions in Tesla have incurred paper losses of at least $5.2 billion.

ChainCatcher news, according to the Financial Times citing informed sources, BlackRock is in preliminary discussions with Millennium Management about a strategic partnership that could allow the world's largest asset management company to acquire a stake in this highly profitable hedge fund management firm.Although any stake may be small, this potential collaboration reflects BlackRock's pursuit of expanding into the alternative investment space, while also showing that Millennium's 76-year-old founder, Izzy Englander, is continuing to grow and diversify his business.Informed sources indicate that negotiations are still in the early stages and may not result in an agreement. If BlackRock does indeed acquire a stake in Millennium, it would mark the first time in 35 years that Englander has accepted external investment into Millennium's management company.

ChainCatcher news, hedge fund Coatue Management plans to raise $1 billion to increase investments in artificial intelligence and technological innovation. It is reported that this is the first time in several years that the company is seeking to raise funds for its flagship fund.Coatue Management is a New York-based hedge fund focused on technology companies. It led the $300 million Series C funding round for OpenSea, and its portfolio in the crypto space includes: blockchain security company CertiK, Bitcoin mining company Hut 8, crypto payment platform MoonPay, and crypto analytics platform Dune Analytics, among others.

ChainCatcher message, hedge fund manager Anthony Scaramucci stated that by 2026, the price of Bitcoin will triple, reaching $176,000.

ChainCatcher news, according to Bloomberg, two cryptocurrency hedge fund management companies, JellyC and Trovio Asset Management, announced a merger aimed at attracting institutional investor funds, including pension funds. Australia-based JellyC will become the main shareholder of the merged entity.

ChainCatcher news, former Goldman Sachs executive and founder of macro research firm Real Vision, Raoul Pal, stated on social media: "One day, people will realize that the biggest users of Bitcoin ETFs and most of the trading volume come from hedge funds, which are arbitraging between spot and futures, perpetual contracts. The inflow of funds is mainly not directional, only marginally impactful."Raoul Pal believes that most of the funds flowing into Bitcoin ETFs are not based on investors betting on the long-term rise and fall of Bitcoin (i.e., directional investment). Instead, this capital primarily comes from hedge funds using ETFs for short-term arbitrage, aiming to profit from price differences rather than relying on the price movement of Bitcoin itself, and most of the activity does not reflect the broader market sentiment towards Bitcoin's price trends.

ChainCatcher news, according to The Block, former FTX user Alexander Nikolas Gierczyk has filed a lawsuit in the U.S. District Court for the Southern District of New York, accusing the hedge fund Olympus Peak of violating an agreement regarding additional bankruptcy claim proceeds. It is reported that Gierczyk transferred his bankruptcy claim worth $1.59 million to Olympus Peak at a 58% discount in November 2023.Recently, U.S. Bankruptcy Court Judge John Dorsey in Delaware approved the FTX asset restructuring plan. The plan is expected to repay FTX creditors between 129% and 146% of the claim value at the time of the bankruptcy filing in fiat currency. According to the lawsuit documents, based on this repayment ratio, Olympus Peak is expected to profit between $1.1 million and $1.4 million from Gierczyk's claim.The lawsuit documents indicate that although Gierczyk transferred the claim at a discount, the agreement with Olympus Peak included an "excess claim clause." This clause was originally intended to allow Gierczyk to receive additional compensation in the same proportion if the bankruptcy distribution exceeded expectations. However, the plaintiff's attorney stated that Olympus Peak has explicitly indicated it will not fulfill its obligations under this clause.

ChainCatcher news, FTX customer Nikolas Gierczyk has sued the hedge fund Olympus Peak, accusing the fund of purchasing his debt and earning over $1 million from the transaction without paying him the full amount of the proceeds.Gierczyk stated that Olympus Peak owes him a larger payment because he sold $1.59 million in debt to the hedge fund at a "significant discount of 42%" last year, while FTX received approval for a bankruptcy restructuring plan this year, which is expected to return 129% to 146% of the debt value to customers.Gierczyk pointed out in the lawsuit that he explicitly stated his right to additional compensation in the agreement with Olympus Peak, but the fund refused to honor that right.

ChainCatcher news, a new survey shows that nearly half of hedge funds focused on traditional asset classes are now involved in cryptocurrency.According to the Global Cryptocurrency Hedge Fund Report released by the Alternative Investment Management Association and PwC on Thursday, 47% of hedge funds trading in traditional markets hold digital assets, up from 29% in 2023 and 37% in 2022. Among the funds that have already invested, 67% plan to keep their cryptocurrency capital at the same level, while the remaining funds plan to increase their investments before the end of 2024.

ChainCatcher news, according to Bloomberg Crypto on the X platform, Dubai now has 40 hedge funds with a scale of over $1 billion, and the hedge fund market is in a prosperous development stage.It is reported that the United States is also negotiating with the UAE on artificial intelligence.

ChainCatcher news, legendary hedge fund figure David Tepper stated that the Federal Reserve must cut interest rates at least two to three more times to maintain credibility. (Jin Ten)