Digital Asset Trading Firm ‘LedgerPrime’ Secures $20 Million

Proprietary digital asset trading firm LedgerPrime has managed to raise $12 million in funding with another $8 million guaranteed, according to a report from CoinDesk.

LedgerPrime chief investment officer Shiliang Tang told the publication on Thursday that “the raise is reflective of LedgerPrime’s track record and success through the 2018 crypto crash, and shows the opportunity associated with trading cryptocurrency derivatives and the demand for strategies that can generate returns in both bear and bull markets.”

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Notably, LedgerPrime is owned by Ledger Holdings Inc., which is also the owner of crypto futures platform LedgerX. LedgerPrime began offering trading in the cryptocurrency spot and derivatives markets in Q4 of 2017.

The firm is based in New York and led by Tang, who acts as LedgerPrime’s Chief Investment Officer, and Dr. Johannes van Ziejts, who holds a position as the company’s Chief Technology Officer.

Indeed, the LedgerX Halving Contract “will allow you to get a fixed payoff if the next halving block (#630,000) happens before a certain date and time. If the block is discovered after, the contract expires at zero.”

At the rate that transactions are being processed at the current moment, Bitcoin’s mining reward is cut in half roughly one time every four years. The last Bitcoin halving occurred in 2016 when the Bitcoin reward decreased from 25 BTC to 12.5 BTC.

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