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In the week ending 15 September, 2017, in FinTech, hedge funds are hacking blockchains to guide them in their cryptocurrency investments. There are now more than 68 crypto hedge funds focused specifically on digital currencies, and they have raised about $800 million and aim to raise $1.2bn. If the current pace continues, there would be some 150 or so cryptocurrency hedge funds in the already crowded space by the end of this year.

The Chinese authorities' shut down of domestic bitcoin exchanges has delivered a final blow to a once-thriving industry there. Also, investment managers who attended the Delivering Alpha Conference all hated bitcoin. Meanwhile, hedge Project announced the sale of token as it builds its crypto-investment tools, Finles Capital announced that pre-order subscriptions for its FundCoin ICO are now open, but bearish investors have started to target ways to bet that the cryptocurrency mania would implode. Kyle Bass said he believes that bitcoin, as a digital asset and currency, is here to stay; a survey by Bank of America Merrill Lynch has found that bitcoin is the most crowded trade while Jamie Dimon took a shot at bitcoin, saying the cryptocurrency "is a fraud"; and Steve Nadel said there are a lot of issues that needed to be addressed in cryptocurrency investing.

Bridgewater Associates is planning to launch a large new China fund; Winton Capital has set up a new venue where players can bet on the effects......................

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