Connect with us

Business

Coinbase Raises Series E Round of Financing to Accelerate the Adoption of Cryptocurrencies

Published

on

Coinbase Says

At Coinbase, believe that cryptocurrencies and the technologies that power them represent a breakthrough in computer science that will change both the internet and the global financial system for the better. Coinbase see tremendous promise in crypto to build the next great phase of the internet (often referred to as Web 3), which has the power to put control back in the hands of consumers, unleash a new era of innovation, and offer greater access to economic opportunities to more people around the world.

Today, Coinbase to announce that will add an additional $300 million of investment at a valuation of over $8 billion to accelerate the adoption of cryptocurrencies and digital assets. The Series E equity round is led by Tiger Global Management, with participation from Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and others.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Altcoins

Bitfinex to Charge 3% on Frequent Withdrawals

Published

on

Crypto Industry

Bitfinex has introduced new fees on external wire requests that appear to be designed to reduce the frequency and size of fiat withdrawals. As of this week, the exchange will start charging 3 percent when its customers make more than two fiat withdrawals within a 30-day period. It will also charge a 3 percent fee when customers request “more than $1 million in aggregate in fiat withdrawals in any 30-day period.”

Bitfinex claimed that “regular withdrawals” will not be affected by the change, estimating that it will not impact “99 percent” of its customers. However, the exchange “may exempt customers from this charge in its sole discretion.”

The company also claimed that it “serves as the primary fiat gateway in the crypto ecosystem.” It added that it has processed more than 700 withdrawals, worth more than $1 billion in total, over the last month alone. Despite the purportedly high number of withdrawals it said it has been handling, a quick glimpse at the exchange’s subreddit suggests that many of its customers are still waiting for their transactions to be processed.

Continue Reading

Business

COBINHOOD Announces Jill Shih as Chief Executive Officer

Published

on

Bitcoin core

COBINHOOD, the next-generation cryptocurrency service platform and zero-trading-fee exchange, today announced the addition of Jill Shih to its team as Chief Executive Officer. Shih brings over 18 years of extensive experience in product user experience, project management, and development across mobile internet and software industries, making her formidable addition to the COBINHOOD team.

The past ten years have been a technology boom for China, and Shih has played a significant role as part of the next generation of technology companies in the country. Before joining COBINHOOOD, Shih built and managed cross-region teams at corporations such as Cheetah Mobile, NQ Mobile, Microsoft and Trend Micro in multiple countries in Asia including China, Taiwan and Japan. While at Cheetah Mobile, Shih managed several teams of over 200 employees with skill sets in various areas of the technology industry. Much of Shih’s role consisted of team building and reorganization, while ensuring that innovation and adaptability remained a key focus for employees. Prior to that, Shih gained hands-on software development experience at Sprint in the United States.

“I am honored and excited to become part of a fun and fast-paced company that is widely respected in the blockchain industry,” said Shih. “I believe blockchain technology will bring a huge impact to our world in the near future, and COBINHOOD as at the forefront of that disruption. As someone interested in blockchain, COBINHOOD caught my attention because of their innovative team of young and energetic top talent in blockchain technology, that share my goals for wanting to make something great in the industry. Through my leadership, and experience with top-tier technology companies from across the globe, I look forward to keeping COBINHOOD on the frontier of this modernization,” said Shih.

As the CEO of COBINHOOD, Shih is focused on building a wider blockchain ecosystem, and helping the team to make a mark in the blockchain industry. COBINHOOD will continue bringing top-tier ICO projects to the mainstream, helping them to find the most suitable investors and partners, and ensuring their liquidity through listing them on COBINHOOD’s world-class cryptocurrency exchange. At the same time, Shih is making the advancement of DEXON a major priority, as this technology will play a pivotal role in the blockchain industry, alongside COBINHOOD. Shih also looks forward to potentially providing new financial products such as a mobile wallet in the near future, as fintech continues to act as an entry-point for blockchain applications like COBINHOOD.

Continue Reading

Business

Tokyo Police: 8 Arrested in Connection with Cryptocurrency Pyramid Scheme

Published

on

Tokyo

Tokyo police on Nov. 14 arrested eight men in connection with a pyramid scheme that apparently collected about 7.8 billion yen ($68.42 million) in cryptocurrency from 6,000 people.

The men are suspected of violating the Financial Instruments and Exchange Law by not registering their business operations with authorities, according to Tokyo’s Metropolitan Police Department.

Police believe that the suspects tried to avoid prosecution through the use of cryptocurrencies, as transactions in this area fall in a gray zone under the financial exchange law. Among those arrested were Kazunari Shibata, a 46-year-old company executive in Tokyo’s Minato Ward, and seven other men, police said.

Six of the suspects, including Shibata, basically admitted to the allegations, while the other two did not. The men have been accused of soliciting investments from nine men and women ranging in age from 40 to 72 for what they called “Sener,” which they claimed is a U.S. investment firm, between February and May last year without registering with the Financial Services Agency.

The nine people together handed 29 million yen in cash to Shibata and other men to purchase Bitcoins, a cryptocurrency, on their behalf, police said.

In all, Tokyo police believe the suspects collected about 500 million yen in cash, in addition to the cryptocurrency, from about 6,000 people in 44 prefectures. According to a group of lawyers representing victims and investors, the suspects at seminars and other gatherings promised monthly returns of 3 to 20 percent, based on the investment.

They also promised investors further returns and payments if they brought in other investors. Their seminars included foreign speakers, and a video of at least one of the sessions was uploaded on YouTube.

They collected most of the investments in the form of Bitcoins. The cash they received was given on the pretext to purchase Bitcoins. According to the FSA, cryptocurrencies, in principle, are not included in securities that are under the jurisdiction of the Financial Instruments and Exchange Law.

An agency official said investments via cryptocurrencies can be regulated under the law, depending on the structure of the investment. But there is no clear definition of the scope of regulations.

A group of 73 victims filed a lawsuit against those who solicited their investments at the Tokyo District Court late last month, seeking about 370 million yen in damages.

Continue Reading

Blockchain

Europe’s most active investors are gathering in London for the Blockchain Venture Summit

Published

on

London

The Blockchain technology, which enables creating and storing secure and permanent data records, is already being adopted worldwide. Experts of the Blockchain and crypto ecosystem will gather on the 21st of November in London for the Blockchain Venture Summit.

Blockchain Venture Summit, which will be held in 8 Northumberland, one of London’s top attractions, organized by Webrazzi, leading media company of the tech and internet world in the MENA region in collaboration with Bitrazzi, which focuses on Blockchain and cryptocurrency. There are important names among the speakers of the Blockchain Venture Summit, such as Richard Muirhead from Fabric Venture’s, Ajit Tripathi from ConsenSys, Adi Ben-Ari, Monty Metzger.

Among the new speakers of Blockchain Venture Summit, where experts of the Blockchain and crypto ecosystem will come together are; Ambre Soubiran from Kaiko, Tomer Federman from Federman Capital, Jamie Burke from Outlier Ventures, Laura Kornelija Inamedinova from LKI CONSULTING, Nancy Fechnay from BedrockX, Megan Reynolds from Entrepreneur First, Philip Mifsud from Blockchain Generation, Peter Lundgreen from Lundgreen Capital, and Sheba Karamat from Coin Rivet.

Bringing together the Blockchain and crypto ecosystem

CEO of Webrazzi, Arda Kutsal, will hold the opening speech of the conference, which is sponsored by Coiny, Colendi and Gobaba and will be held in London on the 21st of November 2018. You can get more information about the conference, which will be an exclusive event limited to only 500 people, and the agenda, here.

A few tickets are still available for purchase and here is a %20 discount code “BVSLDN18” for last minute buyers of this exclusive conference.

Continue Reading

Altcoins

Emerging Cloud Server Cryptocurrency Mining Service Splitt Experiences Rapid Growth, Attracts Ten Thousand Investors in Less than Three Months

Published

on

Crypto Billionaire

Recently launched cloud server cryptocurrency mining service, Splitt is now making the heads turn in the global crypto community. Designed to make cryptocurrency mining user-friendly and safe for all, Splitt has secured an investment of well over $5 million from more than ten thousand investors over the last three months. 

Splitt, a recently launched cryptocurrency mining service equipped with a cloud server, is now taking giant strides towards becoming a highly preferred choice amongst the crypt mining enthusiasts around the world. Following its mega launch in August, Splitt has done well to secure close to one hundred thousand users and ten thousand investors in less than three months. Official sources have revealed that the company has already received an investment of more than five million for further development of the business. 

As a result of drastic increase in the number of miners, bitcoin mining has become extremely competitive these days. Along with this growing competition, the bitcoin network has increased the difficulty level of solving the puzzles. As a result, it has become necessary now for the miners to up their game to stay in the race. 

Splitt

The crypto cloud of Splitt meets these challenges by offering mining services with ASIC integrated chips. This is considered to be the latest breakthrough in crypto mining because it is faster compared to the traditional GPU and CPU mining, and consumes less power. Splitt cloud mining requires no specialized hardware as it utilizes shared processing power from data centres. 

Thousands of users have recommended Splitt as their crypto mining alternative because of the following features. 

  • Flexible multi-algorithm cloud mining
  • No pool fees, no waiting for equipment and no system crashes
  • Hashpower is purchased and is retained for the whole contract duration.
  • Dedicated to transparency and discloses everything to the public
  • The company can be located easily and its representatives attend a number of events regularly
  • Mining a number of different cryptocurrencies from scrypt and proof of work algorithm coins as well as ASIC and GPU mining
  • Three-tier affiliate program and a lucrative bonus system

All Splitt users also have the opportunity to boost their mining contracts every week by winning Splitt Points. Moreover, the company is currently looking for a name for their Mascot and the winner coming up with the same will receive one thousand Splitt Points.  

As part of the company’s global expansion plan, Splitt has recently opened a fully operational office in Thailand. The office is headed by Certified Bitcoin Professional Mr. Taradon Kriwichet, who is available alongside his team on a daily basis to help the visitors. Interestingly, a high percentage of investors that have contributed to Splitt are from Thailand. Investors from Ghana, Italy, Germany, and Russia have also contributed generously. 

“We are happy to let you know that we have received an investment of more than $5 Million to grow our business. We have been unstoppable in the recent months, with more than 95k users and 10k investors,” said a senior spokesperson from Splitt. “Now, we also have a fully operational office in Thailand and much more is expected in the near future.”    

As a rapidly growing industry player, Splitt takes part in a number crypto conferences and forums all over the world. In the recent months, the company actively participated in three key industry events and the next one is coming up soon. In October, Splitt representatives conducted a successful workshop and networking conference in Ghana.

Splitt has an ambitious future plan that includes opening a Splitt Cafe in Thailand in January, 2019. To cater a rapidly expanding pool of users, the company has recently fine-tuned their web presence. The Facebook Fan page of Splitt has also been rebranded. More latest news and updates about Splitt is available at https://splitt.co/en/news

Mentioned below are the upcoming summits to be attended by Splitt

  • Ghana Summit No. 2 – 24 November 2018 – Miklin Hotel Conference Room (Contact John Kaakyire – 0249791008)
  • star2 Italy’s First-Ever Summit (with special Italian translator for Speaker CBP Taradon) – 01 December 2018 – Savoy Excelsior Palace Hotel – Contact Mr. Alex Vicini – 3296752612)
  • star2 Thailand Summit No. 4 – 16 December 2018 – Viva Garden Hotel (Contact Mr. Taradon Kriwichet – https://t.me/splittchat_th)

To stay up-to-date with all latest developments, Splitt users are encouraged to subscribe to the company’s Telegram Group at https://t.me/splittchat_en

The company requests all their customers to take part in an event survey by visiting the link https://splitt.co/en/forms/eventsurvey   

To find out more about Splitt, please visit https://splitt.co/en/

About Splitt: Splitt offers a user-friendly alternative to cryptocurrency mining from home at any time. It is suitable for amateurs as well as cryptocurrency experts working on a larger scale. The cloud mining service offers a fresh alternative to traditional means of cryptocurrency mining. The company’s priority is to offer a standardized, highly reliable, and high-performance cloud computing environment in all of the fifteen cities they serve at present. 

Continue Reading

Business

Swiss Cryptocurrency Firm X8 Obtains Islamic Finance Certification

Published

on

Finance Certification

Switzerland-based financial technology firm X8 AG has obtained certification from Islamic scholars for its digital currency, with plans to expand its business in the Middle East, a senior executive said on Monday.

Several fintech firms are integrating their technology into the field of Sharia-compliant finance, with regulators and financial exchanges in the Middle East region keen to attract new business and encourage innovation in the sector.

This has prompted Islamic scholars to assess the religious validity of digital currencies, some wary of price volatility and the types of assets behind digital tokens.

The company hopes its Ethereum-based cryptocurrency, which is fully backed by a basket of eight fiat currencies and gold, can address such concerns, said X8 director and co-founder Francesca Greco.

“The Gulf region is a really good place for financial technology companies, because they all want to become hubs for fintech,” said Greco, adding the company would open a regional office in the Middle East later this month.

Regulators in the Gulf region have built a welcoming environment for fintech but they are also being cautious about cryptocurrencies, giving an opportunity for so-called “stablecoins” which are designed to reduce price volatility, Greco said.

The company also plans to launch a crypto-exchange that would include a Sharia-compliant component, and it has held discussions with local exchanges in Abu Dhabi, Dubai and Bahrain, Greco added.

The firm received certification for its cryptocurrency and related tokens from the Shariyah Review Bureau (SRB), an Islamic advisory firm licensed by Bahrain’s central bank.

Cryptocurrencies have drawn a variety of rulings from scholars over the past few years, with differing views on how they fit into religious principles that emphasize real economic activity and forbid outright monetary speculation.

The debate among Islamic scholars has been narrowing, however, as some have compared the trading of cryptocurrencies to the transfer of rights, which is deemed permissible in Islam.

Continue Reading

Altcoins

Bitcoin Mining Bitmain Releases New 7nm Antminer

Published

on

Braiins OS

Bitmain has officially released two new 7nm (nanometer) “Antminer” crypto mining machines, according to an official tweet. Bitmain indicated in September that it would be equipping its new Antminer models with next-generation Application-Specific Integrated Circuit (ASIC) chips.

ASIC chips are geared to compute optimally for a specific hashing algorithm and, as Bitmain’s tweet confirms, these latest “acceleration” chips use an SHA256 algorithm, which is based on 7nm Finfet semiconductor manufacturing technology.

In Bitmain CEO and co-founder Jihan Wu’s keynote lecture in September, he outlined that the new chip integrates “more than a billion transistors,” using a special circuit structure and low power-intensive technology to optimize efficiency. Wu claimed that tests have shown the chip “can achieve a ratio of energy consumption to the mining capacity that is as low as 42J/T.”

Continue Reading

Blockchain

Official Hong Kong Blockchain Week launches March 4 – 8, 2019

Published

on

Hong Kong

The Official Hong Kong Blockchain Week will be launched from March 4 – 8, 2019 and be hosted by NexChange. Blockchain business and technology leaders from around the world will converge in Hong Kong.

The week will be anchored by NexChange’s Block O2O Global Blockchain Summit 2019 (March 5-6). The Hybrid Summit will be hosted by Strategic Programme Partner Hybrid Block on March 7. The Week will be supplemented by over 20 accredited events, details of which can be found at hkblockchainweek.net.

Over 120 speakers from 50+ countries will meet with more than 150 investors and in excess of 100 journalists at HKBCW.

Hong Kong is Asia’s premiere blockchain conference center for new blockchain enterprises to come and raise money, for major exchanges to establish themselves and for investors to decide where to place their bets in the blockchain future. Major corporate players will come to network, learn, and present their solutions alongside influential global NGOs.

The Hong Kong government has made a major push to support research and development of new technologies, including funding for blockchain. Major government departments and research centers are lining up to stand behind Blockchain Week.

From Bitcoin loyalists to those building Blockchain 2.0, 3.0, and beyond, Hong Kong will gather over 3,000+ delegates at the main event and at smaller blockchain events across Hong Kong. Deep dive education, practical workshops, networking opportunities, exhibitions and site tours will make it an action-packed week.

Hong Kong is host to crypto’s biggest exchanges, the highest concentration of investors and the most crypto-active community in Asia. Major consortia like Hyperledger have made Hong Kong home for their Asia Pacific leaders. Bitmain chose Hong Kong’s stock exchange for its upcoming listing. Major multinationals have blockchain research labs and architects situated in the heart of Asia.

Continue Reading

Business

MINDEX, GMEX Group and HYBSE join forces to launch the first blockchain securities exchange in Mauritius

Published

on

DTCC

Mauritius, London, 6th November 2018: We are pleased to announce the launch of the HYBSE International Marketplace; a joint venture between MINDEX Holdings Limited (MINDEX), GMEX Group Limited (GMEX) and Hybrid Stock Exchange Corporation Limited (HYBSE); that will bring to market a revolutionary blockchain exchange platform, based in Mauritius.

MINDEX; a complete exchange, post trade and physical infrastructure, facilitating a variety of asset classes to be traded in Mauritius, supported by GMEX; a world leader in digital business and technology solutions for exchange and post trade operators, will partner with HYBSE; a global online marketplace based on blockchain technology that is part of the DIM-Ecosystem.

The HYBSE International Marketplace will integrate blockchain solutions and technology with traditional financial industries providing a complete and governed ecosystem that digitalizes assets onto the blockchain. This partnership will for the first time, enable institutional investors access to cryptocurrency ETF’s and other crypto-instruments.

The following asset classes will be facilitated for trade in a digital tokenized format:

  • Cryptonized Shares
  • Cryptonized Currencies
  • Commodities
  • Indices
  • Forex
  • ETC’s (Exchange-Traded Commodities)
  • ETF’s (Exchange-Traded Funds)
  • CETF’s (Crypto Exchange Traded Funds)

SMEs will be able to use the HYBSE International Marketplace to seek capital by launching an Initial Blockshare Offering (IBO); a time-limited offer to purchase cryptonized-equities and other cryptonized-instruments, such as blockshares, from businesses registered on the HYBSE International Marketplace at special discounted rates. This will provide opportunities for the unbanked (more than 1.7 billion worldwide) to participate in the listing and trading of stocks.

The parties have chosen to set up the HYBSE International Marketplace in Mauritius further to the recent announcement that the Financial Services Commission (FSC), the local regulator, will create new licensable activities for the Custodian of Digital Assets and Digital Asset Marketplace and provide a regulated environment for the exchange and safe custody of digital assets. The regulator in Mauritius has also issued guidelines on investment in cryptocurrency as a digital asset.

joint-venture_1200-900

Hirander Misra, Chairman of MINDEX and CEO of GMEX Group commented: “I am delighted to announce this exciting joint venture, where HYBSE will bring its vast domain knowledge, securities to be tokenised and its blockchain-based digital exchange technology and MINDEX, supported by GMEX, will provide scalable institutional grade digital trading platforms and business and operational expertise to set up the new marketplace.”

He added, “We welcome the new regulatory framework for digital assets in Mauritius and we are thrilled to be at the forefront of market development as one of the first ventures to set up under the new regime. We are firmly convinced that there is a massive opportunity for Mauritius to position itself as a major global hub in this dynamic space underpinned by strong governance and regulation to ensure trust”.

Daniel Liu of Hybrid Stock Exchange Corporation Limited (HYBSE) commented “The new venture between the three companies will bring about an exciting new development, not only for the crypto sphere, but global capital markets as a whole. As we embark on a journey to pave a previous uncharted way forward, this will inevitably create an ideal prospect to move the evolution of all financial systems, light-years ahead. We must also maintain a conscious belief of the power of this evolutionary step, as not to disrupt current global markets, but to rather bolster a new way of thinking that encompasses a decentralised and truly free market entity.”

HYBSE International Marketplace will apply for a Digital Marketplace license and operations are due to commence in Q1 2019 subject to regulatory approval.

Continue Reading

Bitcoin

Turkish Hackers Steal $80,000 Worth of Cryptocurrency

Published

on

Crypto Mining

According to Turkish media, 14 people have informed authorities about their compromised cryptocurrency wallets. The coins have been transferred to other wallets and subsequently sold for fiat. Investigators discovered the hackers had stolen “bitcoins worth 437,000 Turkish lira” (over $80,000), the Daily Sabah reported.

The cybercrime combatting division identified some of the suspects by tracking a new phone number they used to register on the trading platforms where they exchanged the cryptocurrency. The thieves moved the money through numerous accounts to cover their tracks, the Hürriyet newspaper detailed.

On Oct. 26, agents from the unit detained 11 people at different addresses in Istanbul during joint raids with Polis Özel Harekat, the special operations department of the Turkish police. Currently, 10 of the accused remain in custody. Policemen also seized 18 mobile phones and SIM cards, 22 memory sticks, six laptops, three hard disks, a tablet, two driver’s licenses, and a fake identity card.

During the investigation, police officers tracked the suspects who tried to withdraw the fiat money from various banks and ATMs. Their attempts have been recorded by multiple security cameras. Investigators are also looking for more victims of the hackers.

Continue Reading

Trending