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Tim Draper

Tim Draper

Tim Draper is an American venture capital investor and founder of several companies such as Draper Fisher Jurvetson (DFJ), Draper University, Draper Venture Network, Draper Associates, and Draper Goren Holm. He was born on June 11, 1958, and is the son of Phyllis and William Henry Draper III, who is the founder of Draper & Johnson Investment Company and former chairman and president of the Export-Import Bank of the United States

Draper attended Stanford University and graduated with a BS in electrical engineering in 1980, and later earned an MBA from Harvard Business School in 1984.

Draper started his career in venture capital in 1985 after leaving the investment bank Alex. Brown & Sons. He founded his own venture capital firm. His most prominent investments include Baidu, Hotmail, Skype, Tesla, SpaceX, AngelList, SolarCity, Ring, Twitter, DocuSign, Coinbase, Robinhood, Ancestry.com, Twitch, Cruise Automation, PrettyLitter, and Focus Media. Draper is a proponent of Bitcoin and decentralization and was one of the first investors in Theranos.

Draper was an early investor of Hotmail. He was the first Silicon Valley venture capitalist to invest in China through the global fund DFJ ePlanet. In 2001, he negotiated with CEO Robin Li of Baidu to buy 28% of the company on behalf of ePlanet for USD $9 million. Draper's father was an early investor in Skype, and DFJ backed Skype in 2004. The company owned 10% of Skype in 2005 when it was sold to eBay for US$4.1 billion. In 2006, Draper was an investor in the Series C venture round of Tesla through DFJ, and in 2007, he again invested in Tesla's Series D venture round through Draper Associates.

In 2014, Draper paid about US$19 million for nearly 30,000 bitcoins which had been seized from the Silk Road by the US Marshals service and auctioned to the public. He predicted that one bitcoin would reach $10,000 "in three years". In April 2018, Draper predicted during an Intelligence Squared debate that "In five years you are going to try to go buy coffee with fiat currency and they are going to laugh at you because you're not using crypto." In December 2019, he predicted that bitcoin would reach US$250,000 by the end of 2022.

Draper's recent investments include Robinhood, Coinbase, eShares, Tezos, among others.

News

First Citizens BancShares Buys Failed Silicon Valley Bank

First Citizens BancShares Buys Failed Silicon Valley Bank

First Citizens BancShares, the 30th largest commercial bank in the United States based in North Carolina, has agreed to acquire the assets of Silicon Valley Bank (SVB), a California lender whose sudden collapse earlier this month sent shock waves across the financial sector

Arbitrum's Highly-Anticipated Airdrop: The Wild Ride of ARB Token

Arbitrum's Highly-Anticipated Airdrop: The Wild Ride of ARB Token

Arbitrum's highly anticipated token airdrop has finally gone live, but not without causing a stir in the cryptocurrency market. The landing page for the project briefly crashed as the project opened the gates to its ARB token, along with Arbiscan, causing frustration for users. In the first 30 minutes following the opening of the claiming window, the blockchain explorer saw a record number of over 84,000 visitors

HowTo

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Polkadot is a blockchain platform that was created by Gavin Wood, one of the co-founders of Ethereum, and launched in May 2020. The project uses a multi-chain architecture, where multiple parallel blockchains (known as "parachains") can operate simultaneously and communicate with each other

What is Cold Storage?

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In the world of cryptocurrency, security is of utmost importance. With the popularity of cryptocurrencies, hacks, and security breaches come along. Cold storage of digital assets has emerged as an increasingly popular option for those seeking increased protection. This article will examine the advantages and disadvantages of cold storage and show you how to select the optimal solution for your needs