Draft:Two Prime

Review waiting, please be patient. This may take 3 months or more, since drafts are reviewed in no specific order. There are 5,002 pending submissions waiting for review. If the submission is accepted, then this page will be moved into the article space. If the submission is declined, then the reason will be posted here. In the meantime, you can continue to improve this submission by editing normally. Where to get help If you need help editing or submitting your draft, please ask us a question at the AfC Help Desk or get live help from experienced editors. These venues are only for help with editing and the submission process, not to get reviews. If you need feedback on your draft, or if the review is taking a lot of time, you can try asking for help on the talk page of a relevant WikiProject. Some WikiProjects are more active than others so a speedy reply is not guaranteed. How to improve a draft Wikipedia:Contributing to Wikipedia – a basic overview on how to edit Wikipedia. Help:Wikitext – how to use the markup Help:Referencing for beginners – how to include references Wikipedia:Article development – how to develop your article Wikipedia:Writing better articles – how to improve your article Wikipedia:Verifiability – make sure your article includes reliable third-party sources You can also browse Wikipedia:Featured articles and Wikipedia:Good articles to find examples of Wikipedia's best writing on topics similar to your proposed article. Improving your odds of a speedy review To improve your odds of a faster review, tag your draft with relevant WikiProject tags using the button below. This will let reviewers know a new draft has been submitted in their area of interest. For instance, if you wrote about a female astronomer, you would want to add the Biography, Astronomy, and Women scientists tags. Add tags to your draft Editor resources Easy tools: Citation bot (help) | Advanced: Fix bare URLs Reviewer tools Instructions · What links here · Two Prime (talk: + · bio) · (log) · Copyvios report · reFill · Citation Bot · (Search: Google, Wikipedia) · Submitted 48 days ago by Christinastrauss (talk: D · +) · Last edited 47 days ago by CommonsDelinker

Submission declined on 2 May 2026 by HitroMilanese (talk). This draft's references do not show that the subject meets Wikipedia's criteria for inclusion for organizations and companies. The draft requires multiple published secondary sources that: provide significant coverage: discuss the subject in detail, excluding routine coverage like product launches, staff appointments, or financial reports and listings in databases or listicles; are reliable: from reputable outlets with editorial oversight; are independent: not connected to the subject, such as press releases, the subject's own website, or sponsored content. Please add references that meet all three of these criteria. If none exist, the subject is not yet suitable for Wikipedia. If you would like to continue working on the submission, click on the "Edit" tab at the top of the window. If you have not resolved the issues listed above, your draft will be declined again and potentially deleted. If you need extra help, please ask us a question at the AfC Help Desk or get live help from experienced editors. Please do not remove reviewer comments or this notice until the submission is accepted. Where to get help If you need help editing or submitting your draft, please ask us a question at the AfC Help Desk or get live help from experienced editors. These venues are only for help with editing and the submission process, not to get reviews. If you need feedback on your draft, or if the review is taking a lot of time, you can try asking for help on the talk page of a relevant WikiProject. Some WikiProjects are more active than others so a speedy reply is not guaranteed. How to improve a draft Wikipedia:Contributing to Wikipedia – a basic overview on how to edit Wikipedia. Help:Wikitext – how to use the markup Help:Referencing for beginners – how to include references Wikipedia:Article development – how to develop your article Wikipedia:Writing better articles – how to improve your article Wikipedia:Verifiability – make sure your article includes reliable third-party sources You can also browse Wikipedia:Featured articles and Wikipedia:Good articles to find examples of Wikipedia's best writing on topics similar to your proposed article. Improving your odds of a speedy review To improve your odds of a faster review, tag your draft with relevant WikiProject tags using the button below. This will let reviewers know a new draft has been submitted in their area of interest. For instance, if you wrote about a female astronomer, you would want to add the Biography, Astronomy, and Women scientists tags. Add tags to your draft Editor resources Easy tools: Citation bot (help) | Advanced: Fix bare URLs Declined by HitroMilanese 2 months ago. Last edited by CommonsDelinker 47 days ago. Reviewer: Inform author. This draft has been resubmitted and is currently awaiting re-review.

Submission declined on 23 April 2026 by DoubleGrazing (talk). This draft's references do not show that the subject meets Wikipedia's criteria for inclusion for organizations and companies. The draft requires multiple published secondary sources that: provide significant coverage: discuss the subject in detail, excluding routine coverage like product launches, staff appointments, or financial reports and listings in databases or listicles; are reliable: from reputable outlets with editorial oversight; are independent: not connected to the subject, such as press releases, the subject's own website, or sponsored content. Please add references that meet all three of these criteria. If none exist, the subject is not yet suitable for Wikipedia. Declined by DoubleGrazing 2 months ago.

• Comment: Please see WP:CORPDEPTH. Hitro talk 11:58, 2 May 2026 (UTC)

• Comment: Routine business reporting and other primary sources do not establish notability per WP:NCORP. DoubleGrazing (talk) 08:33, 23 April 2026 (UTC)

• Comment: In accordance with the Wikimedia Foundation's Terms of Use, I disclose that I have been paid by my employer for my contributions to this article. Christinastrauss (talk) 20:35, 22 April 2026 (UTC)

Two Prime is an American financial services firm that provides institutional bitcoin investment management and bitcoin-backed lending. The firm is a Registered Investment Adviser with the U.S. Securities and Exchange Commission and a registered Commodity Trading Adviser with the Commodity Futures Trading Commission and the National Futures Association.¹² The firm and its chief executive have been featured in independent reporting on institutional bitcoin lending and market structure by CoinDesk, Blockworks, Decrypt, and DL News between 2021 and 2026.

Two Prime was established in 2019 as Two Prime LLC, a Delaware limited liability company, with offices in Denver, Colorado.³⁴ The firm was co-founded by Alexander S. Blume and Marc Fleury.⁴ Fleury had previously created the open-source Java application server JBoss, which Red Hat acquired in 2006.⁴

The firm's Digital Assets Fund I launched in June 2020 and was opened to outside investors in February 2021, using a derivatives overlay on a long bitcoin and ether portfolio.⁴³ A second vehicle, the Liquid Yield Fund I, launched in June 2021.⁵

In early 2023, Blockworks reported that Two Prime had shifted its primary business focus from commingled fund vehicles to separately managed accounts, with approximately $200 million in assets under management, characterizing the change as a repositioning from hedge fund to asset manager.⁶

The firm subsequently reorganized as Two Prime Inc., a Delaware corporation, and relocated its principal office to Asheville, North Carolina.⁷

In May 2025, Decrypt reported that Two Prime had exited its ether exposure to focus exclusively on bitcoin-related investment management and lending, with Blume citing concerns about Ethereum's market behavior.⁸

Two Prime provides discretionary investment management services to institutional clients through separately managed accounts. The firm's strategies employ quantitative methods and derivatives, including options, to manage bitcoin exposure.⁶⁵

Through its affiliate Two Prime Lending Limited, the firm provides bitcoin-backed loans and credit facilities to institutional clients, including bitcoin miners, hedge funds, trading firms, and corporate treasuries. The lending service launched in 2024.⁹ In October 2025, CoinDesk reported that the firm originated $827 million in bitcoin-backed loans in the third quarter of 2025.¹⁰

At the Consensus 2026 conference in May 2026, CoinDesk reported on a panel featuring Blume alongside executives from Ledn and Lygos Finance discussing the post-2022 shift in institutional bitcoin lending toward standardized contracts, transparent custody, and identifiable counterparties.¹¹

Two Prime Inc. is registered with the Securities and Exchange Commission as an investment adviser under the Investment Advisers Act of 1940, with CRD number 316015.¹⁷ The firm is also registered with the Commodity Futures Trading Commission as a commodity trading adviser and is a member of the National Futures Association, under NFA identification number 0536355.²

As of December 31, 2025, the firm reported approximately $400 million in regulatory assets under management on its Form ADV.⁷

Blume has been cited as a market commentator on institutional bitcoin dynamics in independent financial press. In April 2026, DL News featured Blume's analysis of the unwinding bitcoin basis trade and its effect on market structure, framing his view that one dominant directional buyer had altered the price discovery environment.¹²

Alexander S. Blume serves as Chief Executive Officer and is a co-founder of the firm.⁴⁷