• bitcoinBitcoin$70,790.002.84%
  • ethereumEthereum$3,553.931.39%
  • elrond-erd-2MultiversX$61.110.30%

Crypto Derivatives Firm Hxro Raised $15M From Macro Hedge Fund Commonwealth

Crypto derivatives company Hxro has confirmed it raised $15 million in a token sale from hedge fund manager Commonwealth Asset Management.

This investment represents the largest single investor fundraiser that the company has registered. The company has also recently unveiled the Hrxo Network, a decentralized protocol built on Solana that gives permissionless access to liquidity on options markets.

Commonwealth represents a global macro and real estate-focused hedge fund with names like Alan Howard and Louis Bacon being associated with it. The CIO of the company, Adam Fisher, declared that the fund decided to make the investment thanks to Hxro’s plans to generate liquidity and a stronger market structure in the decentralized options market.

“When volatility expands and the liquidity backs away, market participants who need to adjust their position are pretty much unable to do something. It’s one thing to get large retail players into the market, but for macro funds or large hedge funds, the need to hedge and the need to take position in options is greater than ever,” declared Dan Gunsberg, co-founder and CEO of Hxro.

Source: CoinDesk.com

Previous articleNext article

Leave a Reply

Your email address will not be published. Required fields are marked *