Borderless Capital launches half billion dollar fund for Algorand projects

Capital venture firm Borderless Capital has launched a fund worth $500 million to support projects building on the Algorand blockchain. According to a Nov. 30 announcement from the Miami-based company, the Borderless ALGO Fund II will aim to back digital assets powering the “next generation” of decentralized applications (DApps) on Algorand. We are excited to announce the launch of our $500M Borderless ALGO Fund II!https://t.co/EP0U6Ib8HV pic.twitter.com/okXf6GBFo8— Borderless Capital (@borderless_cap) November 30, 2021The firm highlighted nonfungible token (NFT) and decentralized finance (DeFi) projects in particular, noting that it is looking at opportunities to “disrupt the creators economy” with NFTs while accelerating the growth of funding into Algorand’s DeFi ecosystem. The move from Borderless comes in the same week that former Citi executive Matt Zhang introduced Hivemind Capital Partners on Nov.29, a $1.5 billion multi-strategy fund focused on promising crypto plays such as infrastructure projects, virtual worlds and programmable money. As part of the announcement, it was also revealed that Hivemind’s first technology partner is Algorand.Algorand is an open-source decentralized blockchain that was launched in mid-2019 by computer scientist Silvio Micali. The blockchain was designed for speed, security and stability and has been touted as an Ethereum competitor amid ALGO’s surging growth in 2021. “Algorand is the most efficient next-generation blockchain software in the market right now, and it is the next frontier for investment opportunities and disruption,” said Arul Murugan, the founding managing partner at Borderless Capital. The new $500 million fund adds to $400 million worth of Alogrand focused funds that Borderless Capital already manages. Earlier this month the firm closed a $10 million fund focused on PlanetWatch, a decentralized air quality monitoring network built on Algorand. Related: Algorand launches virtual machine to increase smart contract capabilitiesAccording to data from DeFi Llama, Algorand is currently ranked as the thirty-sixth largest blockchain in terms of total value locked (TVL) in DeFi at $97.4 million. The top project on the network is Yieldly (YLDY) which offers a suite of DeFi apps and has a total TVL of $68.4 million. Coingecko shows that the price of ALGO is up 470% over the past 12 months to sit at $1.86 at the time of writing. ALGO’s all-time high was more than two years ago, briefly topping $3.50 in June 2019 before sharply crashing below the $1 mark.

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Bitcoin correction weakest of 2021 so far, as hopes of Santa Claus rally rise

In previous bull market cycles, there has been a measurable correction before a rally at the end of the year — and if history rhymes it could be on the cards again.We’ve certainly experienced the correction: Bitcoin hit an all-time high of around $69K on Nov. 10 and has retreated around 17% to current levels.Some mainstream media outlets such as Forbes have taken the view the current pullback has plunged markets back into bearish territory with the rather salacious headline: “Did Bitcoin Enter A Bear Market After Falling 20% From Its ATH?” on a Nov. 30 article.But November’s dip was actually the weakest correction of 2021, overshadowed by Bitcoin’s whopping 53.4% correction over three months between April and July. The most recent correction in September was the second deepest, reaching 37% from April’s ATH.In its Nov. 29 “Week Onchain” report, analytics provider Glassnode argued that the current correction is just “business as usual for Bitcoin hodlers” hinting that it may soon be over. It also confirmed that this current market correction is “actually the least severe in 2021.”Barring a stock market plunge due to the Omicron variant situation becoming worse, some believe we may be on track for a Santa Claus rally. It’s a term from the stock market when prices rise during the last 5 trading days in December and the first 2 trading days in January, however, it has also been noted in  crypto markets in previous years and is often shorthand for price rises throughout December.Last December, saw a 47% surge in BTC prices throughout the month and December in 2017 witnessed an 80% pump to a new all-time high at the time. Both were in bull markets like today.At the time of writing, BTC was trading at just over $57K so a Santa Claus rally similar to last year could see prices surge to top $80K before the year is out. 8848 Invest co-founder Nikita Rudenia is also confident about a Santa Claus rally commenting:“Despite the obvious setbacks thus far, Bitcoin is still on track to close the year at $70,000 per coin and, should this feat be achieved, we may see the coin touch $75,000 in early 2022 before we get a major correction.”Interestingly Ether is currently outperforming. The ETH/BTC ratio is the highest it has been since mid-May at 0.082 BTC per ETH or around 12 ETH per BTC according to CoinGecko. This could see ETH lead further price gains in December. Related: Forget the milk and cookies, Santa is accepting Bitcoin this holiday seasonAfter taking a deep dive into the on-chain patterns, Glassnode concluded that Bitcoin investors are in more profitable positions than during September’s correction.“Both Long and Short-term Holders are holding more profitable supply than September’s correction, which can generally be viewed as constructive for price.”Glassnode reported that the total proportion of profitable supply held by short-term holders has increased by 60% since September. It summarized “in bull market conditions, this combination usually sets out a fairly constructive short-term outlook.” Hopes of a Santa Clause rally, therefore, are starting to grow. Such a spurt at the end of the year can be attributed to a number of factors such as holiday cheer and increased liquidity due to Christmas bonuses.However, the new Omicron variant could put a dampener on the party if there is a major impact on global financial markets and more lockdowns are enforced or seem likely. According to Nasdaq, investors may be on the sidelines for the time being until more is known about the new viral strain. On the upside, Bitcoin was trading at just $18,857 this time last year.

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Eth2 devs put out call to community to help test out the Merge

Ethereum (ETH) developers have put out a call to the community to help test the long awaited Merge between the Ethereum Mainnet and the proof-of-stake (PoS) based Beacon Chain. The Merge is a major milestone towards the transition to Eth2 as it will see the Ethereum network become a PoS blockchain, decreasing its energy consumption by 99%. On Nov. 29 Ethereum developer Marius van der Wijden announced a new program to get the community involved in Merge testing that caters to three tiers: non-technical users, developers with limited experience in blockchain and highly technical and experienced blockchain developers.Testing is the best way to contribute to #Ethereum. We are starting a new program to get the community involved in testing the merge. If you want to do your part in getting Ethereum to Proof of Stake as soon as possible and save the environment, #dm me pic.twitter.com/WIxpRBIDPB— MariusVanDerWijden (@vdWijden) November 29, 2021For non-technical users the self-guided program provides them tasks such as setting up consensus layer clients, reporting failures and sending transactions. For technical users, they can select objectives such as running their own validators, deploying and testing contracts and setting up their own testnets, while highly technically users can review the spec, propose invalid blocks and splittin the network by voting on invalid blocks. The program calls on all participants to document as much of their work as possible and share it online under the “TestingTheMerge” hashtag on Twitter. Wijden has also pointed the community towards the Ethereum R&D discord channel to maintain communication throughout the testing program. #TestingTheMerge https://t.co/CYoRX0vfGN— smallfish (@S_Rank_lvl) November 29, 2021

“The program is not compensated, but if you find a critical bug (consensus issue/panic), I’ll buy you a beverage of your choice at the next DevCon!” Wijden teased in the program outline.Related: Even with Ethereum 2.0 underway, L2 scaling is still key to DeFi’s futureAccording to the Eth2 page on Ethereum.org, The Merge with the Beacon Chain is set to officially complete by Q1 or Q2 of 2022. The Merge is seen as the final chapter in the blockchain’s evolution to PoS consensus, however there is still more work to do before the transition to ETH 2.0 and sharding is complete. The final piece of the puzzle is the Shard chains upgrade slated for late 2022 (AKA ‘sharding’), which will see the network’s load spread across 64 new chains to help the network scale its capabilities in a decentralized manner, with the aim of ramping up transactions per second and bringing down gas fees in the process.

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Hawkish Powell Is a Force Markets Haven’t Faced in Three Years

November 30, 2021 by Bloomberg News | | Share This Mark Makela / Stringer / Getty Images Bloomberg – Jerome Powell’s appetite for a faster tapering of Federal Reserve stimulus is casting him in a role financial markets haven’t seen since 2018: hawk. Stocks slid, short-term interest rates rose and measures of equity volatility surged Tuesday […]

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Edward Jones’ Headcount Slips As Firm Continues To Tweak Model

November 30, 2021 Share This wolterke – stock.adobe.com Edward Jones & Co’s broker count slipped for the third sequential quarter as the firm warned that the trend will likely persist as it experiments with new growth strategies and tweaks to its model. The St. Louis-based brokerage had 18,829 financial advisors as of Sept. 24, down […]

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Raymond James Snags Edward Jones Manager to Head Recruiting

November 30, 2021 by Miriam Rozen | | | | Share This Raymond James picks Robbie Moseley, Edward Jones vet, to lead recruiting of experienced advisors. Raymond James Financial has named a former Edward Jones manager to oversee recruiting across the St. Petersburg, Florida-based firm’s Private Client Group, including its employee and independent broker channels. […]

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TD Launches New ETFs Offering Exposure to ESG Screened Corporate Bonds Indices

Investment management firm TD Asset Management (TDAM) announced today the launch of the TD Morningstar ESG Canada Corporate Bond Index ETF (TMCC), and TD Morningstar ESG U.S. Corporate Bond Index ETF (TMUC), offering access to investors to corporate bond benchmarks screened for ESG performance.

According to Priti Shokeen, Vice President & Director, ESG Research & Engagement at TDAM, the new ETFs are designed to maintain similar interest rate sensitivity, yield, sector weights, and credit quality as their non-ESG screened parent indexes, Morningstar Canada Corporate Bond Index, and Morningstar US Corporate Bond Index, respectively. As part of a diversified portfolio, they can also complement the TD Morningstar ESG Equity Index ETFs, introduced in December 2020.

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ICE Expands Carbon Market Investment Suite with Launch of Global Carbon Futures Contract

Global exchange and clearing house operator Intercontinental Exchange (ICE) announced today plans to launch a futures contract based on the ICE Global Carbon Futures Index, adding to the companies suite of ESG-related services and carbon markets-focused products.

Launched in April 2020, the ICE Global Carbon Futures Index serves as a benchmark for the performance of carbon allowance prices, based on a basket of EU, California allowance futures contracts, and the ICE Regional Greenhouse Gas Initiative Futures Contracts. ICE also aims to add UK allowance futures in January, making the index reflective of global carbon markets.

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Why I Burned Down (And Rebuilt) My Online Business In 100 Days

Opinions expressed by Entrepreneur contributors are their own. Two steps forward, five steps back, one-and-a-half cartwheels, throw your back out, and then do it all over again tomorrow. That’s how this entrepreneurship thing works, right? If your answer is yes, you’re definitely not alone. So many people think their first business idea will be the […]

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Ex-Merrill Broker Clears Record of “Defamatory” Do-Not-Call Allegations

November 29, 2021 Share This A New York City broker who left last year after allegedly running afoul of Merrill Lynch’s do-not-call policies has cleared his record after an arbitrator found the wirehouse’s claim “false” and “defamatory.” Lawrence C. “Casey” Ennis, a seven-year broker who now works at Morgan Stanley’s 101 Park Avenue office in […]

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Merrill Broker Managing Nearly $600 Million Launches Indie Firm with RayJay

November 29, 2021 Share This A Maryland broker who started his career at Merrill Lynch in 2006 has shed his wirehouse jersey to launch an independent practice with Raymond James Financial Services. Nathan S. Harris, a perennial Forbes “best-in-state” advisor since 2018, is calling his new practice Covenant Capital. He had been managing $597 million, […]

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Twitter Will No Longer Auto-Crop Photos On The Web

Twitter hasn’t had a very good relationship with auto-cropping. Images just haven’t historically displayed very well on the platform. Fortunately that is soon changing. The company recently announced that it is dropping crop on the web altogether on both its Android and iOS apps. It may seem like a small change but Twitter’s auto-cropping algorithm […]

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