Tech figure Michael Arrington announced a new hedge fund that will be the first to be denominated in crypto-currency. : TechCrunch Founder Michael Arrington speaks onstage at TechCrunch Disrupt at Pier 48 on September 9, 2014 in San Francisco, California. Steve Jennings/Getty Images The prominent tech figure Michael Arrington announced a new hedge fund on Tuesday that will be denominated in the crypto-currency XRP, a rival to bitcoin that is closely tied to the software company Ripple.