Hedge Fund Numerai Launches its Own Cryptocurrency

[kreslik.news]

A hedge fund focused on artificial intelligence has launched its own cryptocurrency, underscoring the growing interest in applying Bitcoin-like technology to the financial markets.

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The San Francisco-based hedge fund Numerai today announced that its new virtual currency, Numeraire (NMR), will be the first cryptocurrency that is mined with artificial intelligence, which effectively turns Numerai into the first hedge fund with network effects.

Numerai was founded in 2016 by the 29-year-old South African Richard Craib and has recently managed to raise funds from big investors such ... (read more)