Crypto News

LL Cool J, Paul Tudor Jones Back New Crypto Fund

Crypto Fund

Rapper LL Cool J and hedge fund billionaire Paul Tudor Jones are among a number of limited partners backing a new $72 million Crypto fund created by North Island Ventures. Other big names involved include Apollo Group co-founder Josh Harris, SoFi CEO Anthony Noto and former PepsiCo CEO Indra Nooyi.

The fund itself was created by Glenn Hutchins, his son James Hutchins, and former Digital Currency Group investor Travis Scher. This fund has been quietly making investments in crypto and blockchain projects since early 2020.

The fund has already invested in seven projects which includes Dapper Labs. The company that created gaming dApp CryptoKitties as well as the Flow blockchain and NBA Top Shot. They have also invested in startup Nori which is working on a carbon removal marketplace. As well as Axelar which is focused on scaling cross-chain communication.

The elder Hutchins has been a proponent of crypto since 2015 and first invested in January of 2016. “Crypto promises not just to revolutionize finance but also to invent a new computing paradigm that will be as transformational as the PC, the internet, mobility, and the cloud.”

Glenn Hutchins One Of The Original Crypto Backers

Scher also praised Glenn Hutchins as being one of the original crypto backers. “Some people might see this story and think Glenn Hutchins is jumping on the bandwagon,” Travis Scher told CoinDesk in an interview. “The truth is that Glenn was one of the earliest very established leaders from the finance community to get behind this technology.”

Scher also tweeted about the fund itself and what they hope to accomplish with it. “We believe that crypto offers solutions to some of the world’s most pressing problems. Through this fund, they are supporting those that are bringing these solutions to life.”

Furthermore, Scher admitted that speaking with LL Cool J was unlike anything else he’s experienced. “I would say that pitching LL Cool J about our fund was a surreal experience,” said Scher. “I think people across a variety of industries, including entertainment, are curious about what opportunities this technology presents for them.”

How useful was this post?

Click on a star to rate it!

As you found this post useful...

Follow us on social media!

0 Comments
Inline Feedbacks
View all comments
Corey Hansford

Corey has been involved in media and writing since graduating from the illustrious Howard University with a degree in Broadcast Journalism. While relatively new to the cryptocurrency world, he has been writing since 2012 with most contributions coming in the sports world on websites such as LakersNation.com and DodgerBlue.com. Corey is also an avid sports fan who closely follows the Lakers, Cowboys, Dodgers, WWE, and UFC.

Related Crypto News

Binance’s BNB Coughs Out Massive Intraday Gains as Bitcoin Recovers
BNB pared a huge portion of the losses it faced earlier this week amid a broader recovery across the...
Brave To Add DEX Aggregator, NTF Wallet In Next Browser
Privacy-focused web browser Brave plans to launch a new NFT wallet that will integrate DEX aggregator with non-fungible token...
MicroStrategy Purchases Additional 19,452 Bitcoin Valued At Over $1 Billion
Business intelligence firm MicroStrategy announced that it has increased its Bitcoin holdings by 27% after purchasing an additional 19,452...
Make Following Crypto Easy On Your Coinbench HomePage
With the crypto industry growing at a massive rate, it is becoming more and more difficult to keep up...
Square Invests Another $170 Million In Bitcoin
Surging interest in trading among Square Cash App customers helped revenue more than double in the fourth quarter. The...
Bitcoin Eyes Major Price Rebound as MicroStrategy Buys Another $1.026bn BTC
Bitcoin (BTC/USD) inched higher on Wednesday on prospects of Square's $700 million investment into the cryptocurrency in the previous...

Featured Crypto News

Binance’s BNB Coughs Out Massive Intraday Gains as Bitcoin Recovers
BNB pared a huge portion of the losses it faced earlier this week amid a broader recovery across the...
Brave To Add DEX Aggregator, NTF Wallet In Next Browser
Privacy-focused web browser Brave plans to launch a new NFT wallet that will integrate DEX aggregator with non-fungible token...
MicroStrategy Purchases Additional 19,452 Bitcoin Valued At Over $1 Billion
Business intelligence firm MicroStrategy announced that it has increased its Bitcoin holdings by 27% after purchasing an additional 19,452...
Square Invests Another $170 Million In Bitcoin
Surging interest in trading among Square Cash App customers helped revenue more than double in the fourth quarter. The...
MicroStrategy’s Michael Saylor Believes Bitcoin Will One Day Reach A $100 Trillion Market Value
The price of Bitcoin fell below $50,000 on Tuesday, taking its market value back below $1 trillion. Just last...
Northern Data Bitcoin Mining Operator Considering $500 Million IPO
Northern Data AG, the world’s largest Bitcoin mining operator. Is reportedly working with Credit Suisse AG on plans for...