Lord Jacob Rothschild, British peer, investment banker and member of the Rothschild banking family, has died aged 87. Despite resigning as chairman and director of RIT Capital Partners (formerly Rothschild Investments) in 2019, he remained chairman of the investment trust until his death.
Lord Jacob Rothschild, British peer, investment banker and member of the Rothschild banking family, has died aged 87. Despite resigning as chairman and director of RIT Capital Partners (formerly Rothschild Investments) in 2019, he remained chairman of the investment trust until his death.
Animoca Brands, Kraken, Paxos, what else? Jacob Rothschild’s journey into crypto
It was Lord Rothschild, under whose leadership, RIT Capital Partners began investing heavily in cryptocurrencies and blockchain startups.
For the first time, the global crypto community began to discuss this trend in 2016, when the Rothschild family decided to abandon the US dollar for “other currencies.” Some enthusiasts hinted that Bitcoin (BTC) could be a safe haven for legendary investors.
However, the first confirmed investments in the cryptocurrency segment were announced in 2021. The venture capital unit founded by Rothschild co-led an $8.8 million round for Hong Kong-based blockchain platform Aspen Digital.
In addition to Aspen Digital, it also invested in GameFi pioneers Animoca Brands, creators of leading Web3 game The Sandbox (SAND), top-tier centralized crypto exchange ecosystem Kraken, and Dapper Labs, the NFT heavyweight behind CryptoKitties , NBA Top Shot and Flow (FLOW). Blockchain L1 for digital collectibles.
RIT Witnesses Major Portfolio Shift in 2022 Amid Crypto Crash
Although the exact sum of the investments was never revealed, the UK-based Rothschild Trust was said to be investing between 2 and 3% of its portfolio in blockchain-related products.
Among others, RIT Capital Partners backed funding rounds for Paxos Global, a Web3 platform behind USDP and other centralized stablecoins.
According to its 2022 report, the $4.6 billion investment trust halved its holdings in cryptocurrency protocols following the collapse caused by the FTX/Alameda drama.
