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Ripple’s Xpring Becomes Part of Music and Tech Investment Group Spearheaded by Former President of Major Record Label

  • Alex Morris
    📰 News

    Zach Katz thinks there are two types of people — those who stick to the past and those who are building the future with new innovations


Ripple’s Xpring Becomes Part of Music and Tech Investment Group Spearheaded by Former President of Major Record Label
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Ripple will lead the disruption of the music industry by pouring money into music/tech startups. According to Billboard, an investment group called Raised in Space Enterprises, which was founded by ex-BMG president Zach Katz, has announced a partnership with Ripple’s Xpring and Scooter Braun’s Ithaca Holdings.

Zach Katz

Taking music quality to a new level

The main reason for launching this initiative is to provide funding for those businesses who can provide innovative tech solutions for various areas of the music business (music production, touring, etc.). Katz states that he hasn’t been keen on the idea for as long as five years, but his daily job kept him from further exploring the intersection between music and technology. Now, he’s ready to have ‘different conversations.’    

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Braun, who’s famous for managing the careers of such pop juggernauts as Ariana Grande and Justin Bieber, is also excited about bridging the two industries. According to Brown, the emphasis on technological progress will help enhance the quality of music.

Braun

Only top projects will get the money

Ripple Labs launched its Xpring venture capital fund to put money into projects that are run by high-profile entrepreneurs. Obviously, Xpring only invests in those startups that utilize XRP and the XRP Ledger in order to give a boost to its ecosystem. Raised In Space will make use of Ripple’s Blockchain ‘when applicable.’

Katz claims that they won’t go on a major spending spree. Instead, they will focus on six-to-10 proven entrepreneurs, providing them with generous investments that are ranging from $500,000 to $5 mln. Notably, Raised in Space has already reviewed ‘dozens’ of companies that could potentially get their money in as early as two weeks.

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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

'Bitcoin symbol and graph.Vector illustration.' image by 123rf https://ru.123rf.com/photo_69329295_bitcoin-symbol-and-graph-vector-illustration-.html?term=bitcoin&vti=njv6v7w01tymanucm1-1-82
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