Category Archives: Crypto News

Coinbase Seeks Patent for Security-Enhanced Bitcoin Payment System

U.S.-based digital currency exchange Coinbase has filed a patent on a new Bitcoin payment system designed to make cryptocurrency payments safer. The new platform will provide an added layer of security for users’ keys and allow them to make Bitcoin payments directly from their digital wallets. A segment of the patent filing states, “It may be a security concern for users that the private keys of their Bitcoin addresses may be stolen from their wallets. Existing systems do not provide a solution for maintaining security over private […]

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Dutch Trader Loses Reclamation Suit Against Banks That Froze His Accounts

In November 2016, a Dutch cryptotrader tried to buy his first 10 bitcoin, first using funds from his ING bank and later from ABN Amro. Both banks denied the transactions. He subsequently filed a complaint with Kifid (Financial Services Complaints Institute), a resource that mediates between consumers and small businesses when there are complaints about financial products or services. According to the complaint, the banks claimed the man’s transactions were denied due to fraud prevention measures. It argued, however, that fraud prevention isn’t the reason why ING […]

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[promoted] Equity Trust Forges a New Path for Crypto-Based IRA Investments

Asset diversification has long been touted as a critical strategy for wealth building. This method of portfolio management, which traditionally involves a mix of stocks, fixed assets and commodities allows for maximum return at the least amount of risk — an important element for retirement savings. One company with a strong foothold in this investment space is Equity Trust, a financial services company that allows individual investors to diversify their retirement investment portfolios through asset class options like private equity, precious metals, tax liens and real estate […]

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U.K.-Based Crypto Facilities Adds Bitcoin Cash Futures to Its Offerings

U.K.-based cryptocurrency futures exchange Crypto Facilities, which is regulated by the U.K. Financial Conduct Authority, is adding a bitcoin cash product to its offerings, a press release shared on the exchange’s website reveals. Trading for the bitcoin cash-dollar (BCH/USD) futures began today, August 17, 2018, at 4:00 p.m. GMT +1 (11:00 a.m. EST). The addition of the new contract will enable investors to take long or short positions in bitcoin cash, allowing them to “broaden [their] investment opportunities” and hedge investment risks. The contracts join a list […]

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U.S. Crypto Investment Firm Attracts $22M in Series A, Looks to Expand Services

Los Angeles-based cryptocurrency investment firm SFOX has raked in roughly $22.7 million in its Series A funding. The round was headed by venture platforms Social Capital and Tribe Capital and earned the participation of other firms like DCG, SV Angel, Blockchain Capital and Y Combinator. SFOX caters specifically to professional traders, high net-worth individuals and institutions. As a prime dealer for cryptocurrency markets, the company provides access to global sources of trading and liquidity, real-time trading APIs, OTC desks and U2F hardware for private key management. The […]

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Pantera Capital’s Third Venture Fund Raises $71M, Eyes $175M

Blockchain investment firm Pantera Capital recently launched its third cryptocurrency fund. Known as Venture Fund III, the company completed all necessary filings with the U.S. Securities and Exchange Commission (SEC) last Wednesday, and the event is already making impressive headway in the cryptocurrency space. So far, the fund has garnered over $71 million from roughly 90 different investors. But this capital is just a small fraction of what the fund’s executives feel it can accrue. Firm partner Paul Veradittakit explains that the company expects to bring in […]

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South Korea Budgets Nearly $4.5B for Blockchain, Emerging Tech

South Korea is planning to invest nearly $900 million next year to accelerate the development of blockchain, artificial intelligence and other emerging technologies. In an August 14, 2018, press release from the 5th Ministerial Meeting entitled Growth through Innovation, Deputy Prime Minister Kim Dong Yeon is summarized as saying “The government has decided to work on a platform economy, whose impact is powerful and far-reaching.” “There have been discussions among ministries and private sector experts on how to develop a platform economy, and we have come up […]

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U.S. Investors Can Now Buy a Bitcoin Exchange-Traded Note

American investors can now invest in bitcoin Exchange Traded Funds (ETF) through an Exchange-Traded Note (ETN) called Bitcoin Tracker One on the Nasdaq Stockholm Exchange in Sweden, per a Bloomberg report. The product, which started trading in 2015, is currently available to American investors despite being listed and regulated under Swedish law after being listed in U.S. Dollars for the first time on Wednesday, August 15, 2018. Crypto ETF Through the Back Door? For several months, investors have eagerly awaited approval from the SEC and CFTC to […]

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Square’s Cash App Now Supports Bitcoin Trading in All 50 States

Mobile payment company Square is expanding its bitcoin trading support to all 50 states through its Cash App. This means that residents in all corners of the U.S. can utilize the platform to purchase and sell the digital currency. The company was co-founded in 2009 by tech entrepreneur Jack Dorsey, who also heads Twitter. Last March, Dorsey was quoted as saying that bitcoin will likely serve as the world’s “single currency” in roughly 10 years. Square’s announcement is particularly intriguing in that most bitcoin- or crypto-trading apps […]

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Venezuela Nationalizes Petro, Will Introduce Crypto-Based Salary System for Workers

Venezuelan President Nicolas Maduro recently revealed that the nation’s oil-backed cryptocurrency, the petro, will be used as a unit of account by the state oil company PDVSA. The government is also developing a new salary system that will allow employees to receive their wages in petro funds over fiat. “As of next Monday, Venezuela will have a second accounting unit based on the price and value of the petro. It will be a second accounting unit of the republic and will begin operations as a mandatory accounting […]

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