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TechCrunch founder launches crypto hedge fund
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Michael Arrington, founder of pioneering tech news site TechCrunch, is raising up to $100 million for a hedge fund that will primarily invest in cryptocurrencies like Bitcoin and Ethereum.

Why it matters: There have been more than 100 crypto hedge funds launched this year, but this one is unusual in that it will be initially denominated in a cryptocurrency called Ripple XRP, rather than in dollars or another fiat currency. Arrington argues the structure will make investments and redemptions faster (and eventually cheaper).