From The Fund Manager
Volatility is back in the crypto market! It is not just back, but the end of this week saw some very big moves, a reassuring development after a couple of quiet weeks. The beginning of the week was more static than we would have hoped, but built up to a good end to the week.
I am going to keep this letter relatively short as I have been a bit under the weather this week and so, I have a quite a bit of work to get done before the night is through. So, please forgive me for the short form letter, I will try to cover most topics of interest briefly for your consumption.
Audit has been out for over a week now and was well received. Of course, over that week some of the community had some questions about the audit for the auditor. Chris has taken these questions and our video camera to sit with Tom Surman, our auditor, to run through them with him. We are aiming to get this video's post production done ASAP to get it out for the enjoyment of the investors with questions and the community at large. We will probably link it to the same page as the audit is on our website as a reference point for those looking at the audit in the future. We will share this on our social media channels once published.
Progress on the office this week has been mainly around electrical and wiring up the office to suit our requirements. This has also included the connection of internet services and the like. Our channel partners Wisper have been present this week also to set up servers, computers and other relevant technology. Progress updates will continue moving forward.
The legal structure and licencing for our new fund has been taking up a considerable amount of our time and resources at this current stage. We are focused on doing this very carefully and deliberately so as not to run into issues like the existing fund did when trying to arrange an audit. We are also assembling investment boards and panels with the right people to make sure our new fund can perform in the kind of way our investors have come to expect. Once this is all complete, we will be looking to improve the Countinghouse fund's structuring to increase the transparency of the fund’s governance and to build in further fail safes. This is not an overnight process, but we will update the community once we have some movement.
Thank you for taking the time to read the report this week and the team and I would like to wish you a happy and safe weekend.
Market Activity Summary
Market Data Source: Thanks to @BazzWatkins
Photo Credit: Oliver Needham on Unsplash