Month: February 2019

Singapore Govt’s Wealth Fund Invests in Coinbase’s $300 Million Round

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GIC Private Limited, the sovereign wealth fund of Singapore, was one of the investors in Coinbase’s $300 million fundraising round last year, it has now been revealed. While there were other investors in the Series E round, GIC’s participation was closely guarded until now, per Bloomberg. Other investors who took part in the fundraising round included renowned Silicon Valley venture capital firm Andreessen Horowitz. The Series E round gave Coinbase a valuation of approximately $8 billion. Newsflash: Crypto Giant Coinbase Worth $8 Billion, Will List ‘Hundreds’ of Tokens https://t.co/3bIMZBFWjP —…

Apple Co-Founder Steve Wozniak Lost Respect for Mark Zuckerberg, but Not Bitcoin

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Wozniak calls Bitcoin as something which has provided “massive value creation”. He admits holding a few Bitcoins for experimenting with new devices and applications. During his recent interview with Bloomberg on Wednesday, February 26, Apple co-founder Steve Wozniak openly praised Bitcoin. Although not a crypto investor himself, he said that Bitcoin provides “massive value creation”. Steve Wozniak has been a long time supporter and proponent of Bitcoin (BTC). Last year in June 2018, Wozniak stated that he believes that Bitcoin will be the single native currency of the globe. During the…

Bitcoin, Ether, and XRP Weekly Market Update February 28, 2019 – BTCMANAGER

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The total crypto market cap lost more than $5 billion of its value for the past seven-day period and declined to $131.3. By the time of writing bitcoin (BTC) is trading at $3,827, while ether (ETH) stands at $136. XRP’s Ripple is at $0.312. BTC/USD After six consecutive days of gains, bitcoin closed the trading session on February 21 with a red candle on the Bitfinex daily chart. The BTC/USD pair dropped to $4,007 still above the psychological level of $4,000. Trading volumes broke their 2019 records on both the…

Square Brought in Over $166 Million Through Bitcoin Sales Last Year

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Mobile payments firm Square has reported over $166 million in revenue from bitcoin sales last year. The company filed its financial results for Q4 2018 with the U.S. Securities and Exchange Commission (SEC) on Wednesday, disclosing that it made overall net revenue of $3.3 billion last year, 5 percent of which came from the cryptocurrency buying service within its Cash App. While bitcoin sales brought in precisely $166,517,000, the cost of purchasing the cryptocurrency for the year was about $165 million. That left the firm with a net profit from bitcoin sales…

China Rates TRON as the 2nd-Best Cryptocurrency: Why the Optimism?

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A government agency in China has rated TRON, the third largest decentralized application (Dapp)-focused crypto project, as the second-best crypto asset in the world behind EOS. The Center for Information and Industry Development (CCID) under China’s Ministry of Industry and Information Technology rated TRON highly in several categories including applicability and technology. #TRON is ranked as the second-best crypto project by The Center for Information and Industry Development (CCID), under China’s Ministry of Industry and Information Technology. $TRX #TRX pic.twitter.com/raASnNISIf — Justin Sun (@justinsuntron) February 28, 2019 While TRON secured…

Singapore’s Wealth Fund GIC Among Those to Raise $300 Mln for Coinbase in 2018

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Singapore’s Government Investment Corporation (GIC) was reportedly one of the investors to have helped raise $300 million for major United States crypto wallet provider and exchange service Coinbase in 2018. Bloomberg reported the news on Feb. 28, citing anonymous sources familiar with the matter. According to its official website, GIC — which was founded to manage Singapore’s foreign reserves — has in excess of $100 billion assets in over 40 countries worldwide. As reported, Coinbase revealed it had raised $300 million in a Series E equity financing round in October…

Gemini Crypto Exchange Partners With British Telecom

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Winklevoss brother’s crypto exchange Gemini has recently partnered with the financial and infotech services arm of British Telecom in a deal that will open the doors to thousands of exchanges, brokers and fintech institutions. BT Cloud Broker Community Gets Crypto In a press release the British multinational telecommunications company announced that New York based leading cryptocurrency exchange and custodian Gemini Trust LLC has joined the BT Radianz Cloud. The UK’s largest telecoms provider has operations in 180 countries globally and serves multinational organizations around the world with security, cloud and…

‘Lightning Torch’: Who Will be the Next after Fidelity Investments and LinkedIn Co-founder

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Photo: Pixabay The Lightning torch has obviously found themselves a new home. The torch, which has been passed to both an octogenarian and Twitter CEO Jack Dorsey in the past, has been passed to both Fidelity Investments and LinkedIn co-founder Reid Hoffman in the last few days. Upon receiving the torch, Fidelity assets tweeted: “We and our research team at the Fidelity Center for Applied Technology have received the #LNTorch from @Wiz. Who should we pass it to? “ Reid Hoffman thanked with the tweet: Thanks for the Lightning Torch.…

Reported Cases of Crypto-Related Money Laundering Increase 10-Fold in 2018

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More than 7,000 cases of suspected money laundering tied to crypto were reported to Japanese police in 2018, a more than tenfold increase from the 669 cases over a nine month period during the previous year. The news was reported on Feb. 28 by local English-language daily The Japan Times. In 2017, just 669 cases were reported over a nine month period through December 2017, after new rules taking effect in April 2017 made it mandatory for crypto exchange operators to report transactions suspected to be tied to the movement…

Square Bitcoin Revenue Success Contrasts Profit Warnings After Record Q4 Results

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United States-based payment platform Square reported $166 million in annual Bitcoin (BTC) revenue for 2018, data from its annual earnings report published Feb. 27 confirms. Square, which shares its CEO Jack Dorsey with Twitter, achieved just over $52 million in Bitcoin sales for Q4, surpassing Q3 by $9 million and Q2 by more than $15 million. Clear profit from the Bitcoin operations, which involve Square’s consumer app Cash, remain low, as purchasing costs account for the vast majority of revenue. Nonetheless, Bitcoin industry figures appeared buoyed by the results, which…