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The US money continues to dominate the crypto space. US-based startups raised 45% of all crypto/web3 VC money in Q2 2023 and closed 43% of deals in this category. 

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American money dominates the crypto space: US-based startups raised over 45% of VC capital in Q2 2023

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A star stock-picker and one of the most aggressive bulls of Wall Street, Cathie Wood has amassed an impressive fortune that is largely tied to the performance of exchange-traded funds managed by ARK Invest. 

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Cathie Wood Net Worth: How Rich is the ARK Invest Founder & CEO?

A lone Bitcoin miner recently solved a block solo to secure a rare 3.125 BTC block mining reward.

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Cathie Wood, a star Wall Street fund manager known for her aggressive bets on the technology and innovation sector, made quite a name for herself in the world of finance. However, the glory days of her flagship ARK Innovation fund seem to be over, as most ARK ETFs trade drastically lower over the last couple of years. As Wood's funds fail to attract investors' interest, how much is she worth now?

Cathie Wood was born in 1955 in Los Angeles to a family of Irish immigrants. The eldest child in the family, Cathie 

 in an interview that she was raised as her parents' "first-born son" and was encouraged to pursue her interests and passions regardless of gender. She attended an all-girls Catholic school, Notre Dame Academy, that she finished in 1974. Then, Wood went on to pursue a BA degree in economics and finance from the University of Southern California, graduating summa cm laude in 1981. 

Before she even graduated, Wood landed her first job in finance as an assistant economist at the Capital Group. Three years later, she accepted an offer to work as a portfolio manager for Jennison Associates, where she worked for the next 18 years. As Wood started making more connections in the industry, she met other high-ranked women economists, such as Lulu Wang, with whom she co-founded the hedge fund Tupelo Capital Management. 

In 2001, Wood signed on as a chief investment officer of AllianceBernstein, where she spent the next 12 years overseeing the $5 billion fund's global strategies. She eventually resigned after the management refused to greenlight her plan for a disruptive technology-focused fund, an idea that would later become the backbone of Wood's ARK Investment Management fund. 

After parting her way with Alliance Bernstein, Cathie Wood registered ARK as an investment adviser in January 2014, following her vision for a fund focused exclusively on disruptive innovation. The seed funding for the first four funds was provided by 

 of Archegos Capital, whose overleveraged business empire collapsed in March 2021, triggering a failure of Credit Suisse that sent shock waves across the European banking sector. 

A research team behind ARK funds is constantly on the look for investing opportunities in cutting-edge tech sectors such as robotics, AI, blockchain, genomics, fintech, and space exploration. All funds but two are actively managed, as Cathie Wood believes it allows to capitalize on rapid price movements and quickly close underperforming positions. Such an approach, however, has so far failed to deliver results that would beat the market: even though Wood's flagship ARK Innovation ETF was the top-performing fund in 2020, over the ten years ended in December 2023, it generated a 122% return, as compared to 330% yielded by Nasdaq over the same time. 

At the time of writing, ARK Invest manages eight exchange-traded 

ARK Autonomous Technology & Robotics ETF (ARKQ)

ARK Space Exploration & Innovation ETF (ARKS)

ARK Israel Innovative Technology ETF (IZRL)

The 3D Printing ETF and ARK Israel Innovative Technology ETF are index funds, while the rest are actively managed, which means that they rely on a team of professional portfolio managers to hand-pick the stocks that together could potentially outperform the market. 

Besides actively managed and indexed equity funds, ARK Invest also offers private equity and digital assets, which are products directed primarily at institutional investors. 

Cathie Wood's investment strategy revolves around identifying long-term growth trends and investing in companies that she believes are poised to benefit the most from those trends. A Wall Street darling is also a big fan of a thematic investing approach, where investments are centered around specific sectors that Wood and her team believe expect to create significant value for investors in the future, such as autonomous technology, DNA sequencing, and blockchain. 

Another noticeable trait of Wood's investing style is that she tends to have high conviction in her handpicked companies, often purchasing huge amounts of stocks that she believes have strong growth potential. This typically leads to concentrated portfolios with significant exposure to specific trends. And when the stock fails to deliver, Wood often doubles down on it by buying the dip, or, as her critics like to put it, tries to catch a falling knife, like that one time when she went on a buying spree for Coinbase shares after they fell 20 percent.  

Cathie Wood is decidedly bullish on electric cars — so when Tesla shares began to free-fall, losing more than 30 percent of value since the start of 2024, ARK Invest 

 to buy the dip. Despite the many Tesla woes, such as growing competition from other EV makers and rapid depreciation of Elon Musk's personal brand, Wood reiterated her price target of $2,000 for the company in five years — a more than 1,000% increase from today's prices.  

"Autos, in the future, will be electric," Wood recently told 

. "We believe [that] in five years, 75% to 85% of all sales will be electric."

In contrast, the average price target for the Tesla stock from 47 analysts that are tracked by S&P Global Market Intelligence is $196.64.

As if a sky-high valuation for Tesla wasn't enough to boost morals among the ARK ETFs investors, Wood recently made a huge announcement at the recent Bitcoin Investor Day event in New York, boosting her 2030 

 for Bitcoin from a hefty $1.5 million to even more mind-boggling $3.8 million.

While such an outlandish forecast should definitely be taken with a grain of salt, there's a solid foundation for Bitcoin's appreciation in the upcoming years, namely the steady inflows into the new spot Bitcoin ETFs that accumulated billions of customer assets since the landmark 

 in January. And Wood's new fund, Ark 21Shares Bitcoin ETF (ARKB), hasn't disappointed either, growing to nearly $3 billion AUM so far. 

According to Cathie Wood, the rollout of Bitcoin spot ETFs is likely to bring average Bitcoin allocation among institutional crypto investors from the conservative 1-3% range to a more risky 5%. That alone would be enough to push Bitcoin to the $1.5 million high, she believes. 

As a founder and chief executive officer of Ark Invest, it comes as no surprise that Cathie Wood's fortune is largely dependent on the performance of her funds — after all, she reportedly owns about 50% of the company. Currently, most media outlets pin her net worth somewhere between $250 million and $300 million. According to the Bloomberg Billionaires Index, Cathie Wood has a net worth of roughly $220 million. 

Cathie Wood is a devout Christian who doesn't hesitate to bring her faith into the pragmatic world of finance, as she openly shares that her fund ARK was named after the Ark of the Covenant. Wood is a mother of three children, Caitlin, Caroline, and Robert, whom she shares with her ex-husband. She got divorced from Robert Wood in 2003, who passed away in 2018. Cathie Wood's maiden name is Duddy.

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In recent developments across the crypto landscape, notable Bitcoin-related shifts are shaping the industry’s future. Marathon Digital's accelerated growth plans have positioned the company as a frontrunner in the post-Bitcoin halving era, promising to redefine operational benchmarks. Meanwhile, Bitcoin's dominance continues as on-chain analytics reveal increased wallet activity compared to competitors Dogecoin and Cardano, highlighting 

A Lone Bitcoin Miner's Unexpected Windfall: Unpacking the Remarkable Solo Mining Feat

In a striking turn of events that serve as a strong indication of the unpredictability of cryptocurrency mining, a lone Bitcoin miner has recently managed to solo mine a block, securing an entire 3.125 Bitcoin (BTC) reward—a prize worth approximately $200,000. This rare accomplishment, announced on Apr. 29 by software engineer and solo mining pool administrator Con Kolivas, highlights a fascinating outlier in the increasingly competitive world of Bitcoin mining.

The miner in question managed to solve the 282nd solo block in the history of Bitcoin. According to Kolivas, this individual possessed a substantial hash rate of approximately 120 peta hashes (PH) at the time of the feat, which is roughly 0.12 exa hashes (EH). Over the week leading up to the event, they averaged around 12 PH, a mere 0.02% of the total network hash rate.

The timing of this event is particularly noteworthy as it follows closely on the heels of the Bitcoin halving at block 840,000 on Apr. 20, which reduced the mining reward from 6.25 BTC to 3.125 BTC. Kolivas speculated that this successful miner might have switched from pooled mining to solo attempts post-halving, possibly due to the reduced profitability in covering electricity costs through pooled efforts. Alternatively, the miner might have intermittently rented significant hashing power to mine solo.

Mining a block solo in the Bitcoin network is an extremely rare event, likened to winning a lottery. Out of over 841,300 blocks produced since Bitcoin's inception, only 282 have been solved solo. The network's average hash rate has been climbing, reported at a staggering 618 exa hashes per second (EH/s) recently, with a peak of 728 EH/s on Apr. 23. This makes the feat even more impressive, given the intense competition and increased difficulty in achieving such a milestone.

The financial implications of this solo mining event are significant. While the reward was halved to 3.125 BTC, the value of the reward remains substantial due to BTC's high market price. For context, a solo miner in March 2023 captured a full 6.25 BTC reward, then worth about $150,000—demonstrating the fluctuating nature of mining profitability related to Bitcoin’s market price.

The incident also sheds light on the broader trends affecting the Bitcoin mining industry. As the price of Bitcoin has increased, so too has the popularity of mining, leading to heightened competitiveness and an overall increase in the network's difficulty and hash rate. This environment makes solo mining increasingly challenging, as miners typically collaborate in pools to increase their chances of success and share in the rewards.

As the crypto market leader continues to evolve, both in technology and market dynamics, incidents like this solo mining success story provide critical insights into the behavior of miners and the underlying economics of cryptocurrency. They serve as a reminder of the inherent unpredictability and potential rewards that attract individuals and corporations to invest significant resources in mining operations.

This remarkable achievement not only marks a milestone in the 

 community but also highlights the ever-changing dynamics of cryptocurrency mining, where resilience and strategic shifts can sometimes result in unexpected windfalls.

Bitcoin Outpaces Dogecoin and Cardano in Wallet Activity, Fueling Market Speculation

BTC continues to assert its dominance over other prominent digital currencies, including the original meme coin Dogecoin (DOGE) and Cardano's native proof-of-stake token, ADA. Recent analytics from on-chain data aggregator Santiment highlight a significant disparity in wallet activity among these top cryptocurrencies, shedding light on shifting investor behaviors and market dynamics.

According to the latest report by Santiment, Bitcoin has experienced a noteworthy increase in the number of non-empty wallets, suggesting a rising interest and active participation from both whales (large-scale investors) and smaller investors. This surge in activity comes despite the ongoing price volatility that has characterized the market, leading to fluctuating, often unpredictable price movements.

In contrast, wallet activities for Dogecoin and Cardano tell a different story. Dogecoin, which saw an increase in wallet numbers earlier in the year, appears to have hit a plateau, with the growth rate of active wallets leveling off. Meanwhile, Cardano has witnessed a decline in active wallets, marking it as one of the few networks to see such a downturn, according to the Santiment report.

Implications of Changing Wallet Activities

The increase in active Bitcoin wallets is significant as it indicates a robust engagement from the community, which could potentially support sustained price levels and even drive up prices if the trend continues. Historically, a rise in active wallets has been associated with bullish market conditions, as more participants generally translate into higher demand.

For Dogecoin and Cardano, the stagnation and decline in wallet activity could signal a waning interest or a shift in investor focus towards more traditionally reliable assets like Bitcoin. This change could impact the market positions of these altcoins, possibly affecting their price stability and future investment inflows.

Further adding to the market narrative, cryptocurrency analyst and trader Ali Martinez, using data from Santiment, noted a recent dip in activities from Bitcoin whales. However, he speculates that an uptick in transactions from these major players could potentially catalyze a price increase for Bitcoin from its current level of around $62,964. This observation is based on the significant influence that large-scale investors can have on market prices, particularly in relatively less liquid assets like cryptocurrencies.

This shift in wallet activity comes at a time when the cryptocurrency market is seeing increased institutional interest and regulatory scrutiny. Investors are becoming more sophisticated, seeking out assets with strong fundamentals and clear market traction. Bitcoin’s enduring appeal, highlighted by the recent data, suggests it remains the go-to cryptocurrency for many investors, overshadowing newer or less established coins.

As the cryptocurrency market continues to mature, the dynamics of wallet activities and investor behaviors will play a crucial role in shaping the trajectory of different coins. For Bitcoin, maintaining a high level of wallet activity could be key to sustaining its market dominance and price stability. Conversely, Dogecoin and Cardano will need to reignite interest and engagement within their communities to reclaim their growth momentum.

Overall, the fluctuating dynamics among these leading cryptocurrencies highlight the ongoing shifts in investor preferences and market leadership in the digital currency space, reflecting broader economic, technological, and social influences shaping the financial landscape.

Marathon Digital Accelerates Growth Plans, Aims to Lead Post-Halving Bitcoin Mining Industry

 mining company based in Florida, is setting a rapid pace for its expansion, outstripping initial targets and positioning itself as a potential leader in the post-halving landscape of the cryptocurrency mining sector.

On Mar. 31, Marathon Digital reported an impressive hash rate of 27.8 exahash per second (EH/s), positioning the company well ahead of its scheduled growth plans. Originally, executives had announced in February intentions to increase the company’s hash rate by about 35% in 2024, aiming to hit a milestone of 50 EH/s by the end of 2025. However, in a recent statement, CEO Fred Thiel revealed an updated timeline suggesting that the 50 EH/s target might be reached as early as the end of 2024, thanks to strategic acquisitions and effective management of resources.

The adjusted projection comes on the heels of significant corporate moves, including the acquisition of two mining facilities in Texas and Nebraska, followed by the purchase of an additional site in Texas from Applied Digital for $87 million in cash. These acquisitions not only expand Marathon’s operational footprint but also enhance its capacity and efficiency.

Financial Health and Efficiency Improvements

Thiel emphasized that these growth targets are well-supported by the company's current financial standing. As of the end of March, Marathon held $324 million in cash and 17,381 BTC, valued at approximately $1.1 billion. This robust liquidity means Marathon can pursue its expansion without needing additional capital fundraising. 

Furthermore, Marathon aims to enhance its operational efficiency, targeting an energy efficiency rate of 21 joules per terahash (J/TH). This improvement would not only reduce operational costs but also align with the broader industry trend towards sustainability in mining practices.

The recent Bitcoin halving, which reduced mining rewards from 6.25 BTC to 3.125 BTC per block, has set the stage for significant shifts in the mining industry. This event tends to exacerbate the divide between mining operations, favoring those with greater efficiency and access to capital. Less efficient miners, facing higher power costs, may struggle to remain competitive, potentially leading to industry consolidation.

Industry experts anticipate that companies like Marathon, which can scale operations and maintain high efficiency, will likely emerge stronger and more dominant in the post-halving era. This halving is expected to intensify competition, highlighting clear winners and losers in the segment.

As Marathon Digital continues to expand its capacity and enhance efficiency, it stands as a model of how strategic planning and robust financial health can position a company to take advantage of pivotal industry events like the Bitcoin halving. The company’s proactive steps could serve as a benchmark for others in the sector, demonstrating the importance of scale, efficiency, and financial planning in the increasingly competitive and capital-intensive world of cryptocurrency mining.