Algorand (ALGO) Declines 15.5% Today As SkyBridge Raised $100 Million To The Crypto

Algorand’s tokens suffer a rapid decline in the price chart, showing the negative dynamics. The value fluctuates today from $2.04 to $1.56. Algorand (ALGO) takes a trading volume of $963,294,891 and market capitalization of $9,363,185,879. Recently, SkyBridge Capital, an alternative investment company, announced that it hopes to expand its offerings in the field of cryptocurrencies by submitting an application for the creation of an exchange-traded fund (ETF) focused on cryptocurrency, and revealing plans for the creation of an Algorand (ALGO) at the SALT conference this week in New York.

Algorand (ALGO) - description and review of cryptocurrencies - new EOS already at Binance In an interview with CNBC, SkyBridge founder and former White House communications director Anthony Scaramucci said that the firm has raised more than $100 million in the recently announced Algorand fund. He added that the company currently owns crypto assets worth about $700 million. Scaramucci argued that “cryptocurrency is here to stay,” adding that regulators must act “very quickly” if they intend to control the rapid spread of the technology.

Miriam Bozini

Finance and Business Reporter