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Recent news about the collapse of the crypto fund HyperVerse and the mysterious CEO has caused a stir in the crypto world. HyperVerse, a supposed cryptocurrency fund with an office in London, claimed to manage $2 billion when it closed suddenly in April.
The CEO, who has allegedly attempted to erase all traces of his identity, has been identified as Jonathan Silver. The problem is, though, that the only address associated with Silver is an abandoned mailing address, and his phone numbers and emails have been disconnected.
Investors and industry observers have been left to wonder what happened to HyperVerse and the money associated with it. There’s speculation that Silver may simply have stolen the money from investors and disappeared. Silver’s LinkedIn profile claims he worked for a company named SINOV8 from January 2018 until April 2021, but there’s no record of it ever existing.
In other news in the world of crypto, a new exchange-traded fund (ETF) from VanEck and SolidX is being reviewed by the SEC. The ETF would trade under the ticker symbol VXF COMP and track futures contracts for the largest cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. If approved, the ETF would be the first of its kind in the U.S.
Meanwhile, mining giant Bitfury has announced a $58 million Series B funding round led by the International Finance Corporation (IFC). The money will be used to develop new blockchain applications and expand its mining operations.
Finally, billionaire investor Stanley Druckenmiller publicly voiced his support for Bitcoin over gold, citing its superior technology. The Wall Street legend, who is best known for his investing success in the 1990s, warned that gold prices could decline significantly in the next decade if it doesn’t keep up with innovation.
