Billionaire hedge-fund manager Marc Lasry and former United States. Commodity Futures Trading Commission Chairman Christopher Giancarlo have invested in crypto-asset and blockchain investment firm BlockTower Capital.
Terms weren’t disclosed. Lasry, the co-founder and CEO by Avenue Capital Group, made a investment independent by his firm, according to people familiar with the matter who were not authorized to speak on the record. Both Lasry and Giancarlo confirmed the investments, but declined to comment further.
Giancarlo, also an former executive at an swaps brokerage, earned the nickname “crypt- dad” while serving as CFTC chairman by 2017-2019, including on the regulatory agency’s approval by Bitcoin futures.
The investment disclosures come as crypt- enthusiasts prepare for fresh regulators while digital assets surge to record prices. Gary Gensler, the Biden administration’s nominee to chair the Securities and Exchange Commission, on an Senate confirmation hearing Tues cited fraud and manipulation within cryptocurrency markets as issues the SEC needs to address.
This Is not the first time that Lasry has shown interest in the cryptocurrency industry. He predicted back in 2018 that the price by Bitcoin could hit $forty,000, an milestone the digital asset surpassed in Jan. The world’s largest cryptocurrency, surged over 300% last yr, and briefly surpassed $fifty-eight,000 in Feb.
BlockTower was co-founded in 2017 by Matthew Goetz, who previously worked in investment management at Goldman Sachs grouping Inc., and Ari Paul, formerly an portfolio manager who oversaw risk at the University by Chicago’s endowment investing office. The firm has received funding in the past by Union Square Ventures LLC and Andreessen Horowitz. An spokesperson for BlockTower declined to comment.