Insiders: Fidelity Investments secret crypto fund closed

A digital currency fund has been working as an experiment within the walls of Fidelity Investments, as reported by Business Insider citing unspecified sources. The initiative has been active since last autumn 2017. The VP of Fidelity Matt Walsh and corporate financial analyst Nic Carter have been overseeing the project until they both left the establishment, as told by the same sources.

Notably, both Walsh and Carter changed the work in Fidelity for crypto: they plan to establish Castle Island Ventures, a company which is going to work at the intersection between venture capital and crypto investment.

Previous rumors surrounding Fidelity included the cryptocurrency exchange platform - and it is worth mentioning here that both theories have not been commented by the company’s representatives. At least one of them may easily be false.

This company’s current head was seen as positive towards digital currencies and blockchain, which is a probable reason why these rumors appear in the first place. Nobody is spreading rumors about Berkshire Hathaway, as both its Chairman and Vice Chairman called Bitcoin a toxic financial phenomenon.

Image: AP