OKCoin becomes biggest USD/BTC exchange

Posted on September 25, 2014

Only a week after exiting beta testing for its new bitcoin-to-dollar exchange platform, China’s OKCoin has skyrocketed past Western exchanges in terms of volume. As CoinDesk reports, the USD/BTC trading pair on the site had a volume of 16,342 BTC yesterday, handily beating Bitfinex’s 15,552 BTC volume, as well as Bitstamp’s 14,463 and BTC-e’s 6,556. […]

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PayPal announces partnerships with BitPay, Coinbase and GoCoin

Posted on September 24, 2014

One of the biggest concerns about PayPal’s rapidly approaching integration with bitcoin-based payments has been liquidity. The eBay-owned payment processing giant handled around $180 billion in transactions last year, roughly 30 times bitcoin’s total market cap. If PayPal aims to bring bitcoin payments to the masses, even a relative giant in the space, like Coinbase, […]

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GABI hedge fund announces first bitcoin purchases

Posted on September 23, 2014

The Jersey-based Global Advisors Bitcoin Investment Fund (GABI) announced yesterday that it was in the early stages of deploying the fund’s assets into bitcoin. The company spent the whole of August and much of early September acquiring customers for its initial offer period, and appears to have closed that initial round in the last few […]

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UK-based gold and bitcoin exchange Netagio passes ISAE 3000 audit

Posted on September 22, 2014

The first bitcoin-related company to submit to an audit under the standards of the International Standard on Assurance Engagements (ISAE) has passed with flying colors. Netagio, a small bitcoin and gold exchange based in the U.K., recently announced the results of an ISAE 3000 review conducted by international auditing firm BDO. Netagio claims this to […]

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DigitalBTC and Cryptsy to launch mining contract exchange

Posted on September 17, 2014

If a new deal between alt-coin exchange Cryptsy and Australian bitcoin mining company digitalBTC is any indication, tradable mining contracts could soon become bitcoin’s next boom market. CoinDesk reports that the partnership will result in a new trading platform, dubbed digitalX Mintsy, will offer tradable mining contracts and allow users to lease time on their […]

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What is Overstock’s “top secret” bitcoin project?

Posted on September 14, 2014

Something very big appears to be in the works at Overstock.com. Details are few, but at least two key facts are known: It’s a “top secret project” requiring a “high degree of discretion,” and it’s very clearly being built with cryptocurrency in mind. According to a series of job postings made on the company’s Careers […]

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DigitalTangible partners with Amagi Metals and Agora Commodities to launch new gold-bitcoin exchange

Posted on September 3, 2014

There’s a well-established overlap between the bitcoin marketplace and the market for physical gold. Both communities have a well-founded skepticism of central banks and fiat currency, for instance. With that in mind, it’s hardly surprising that bullion dealers were among the first generation of merchants to realize the potential of bitcoin as a medium of […]

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New partnership brings bitcoin payments to over 10,000 Indonesian convenience stores

Posted on September 3, 2014

A new partnership between Indonesian bitcoin exchange Bitcoin.co.id and the Indomaret convenience store chain is set to bring cryptocurrency payments to over 10,000 new locations in the Southeast Asian country. The new service is powered by payment gateway iPaymu, giving bitcoin transactions a serious credibility boost in the region. Using the new system, Indonesians will […]

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After months of struggle, China’s NiuBTC cryptocurrency exchange closes

Posted on September 2, 2014

The People’s Bank of China’s “bitcoin ban” has finally claimed another victim: cryptocurrency exchange NiuBTC. Back in March, the PBoC began quietly pressuring the country’s banks to close the accounts of digital currency-related businesses in an effort to curb rampant bitcoin and litecoin speculation. The result was a wave of bitcoin and alt-coin exchange closures, […]

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Did a runaway trading bot cause today’s $30 drop?

Posted on August 31, 2014

Automated trading is both a boon and a curse for exchanges of all kinds. On the one hand, “bots” greatly reduce the amount of time and attention needed to implement a trading strategy. A well-programmed bot can, in theory, be earning a profit on even marginal trades, 24-hours a day, and for completely logic-driven reasons […]

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Publicly traded bitcoin company DigitalBTC claims $4 million in revenue in first quarterly report

Posted on August 29, 2014

Australia’s first publicly traded bitcoin mining and exchange company digitalBTC released a preliminary final yearly report today, revealing an estimated revenue of $4 million U.S. over three months of operations. The company’s normalized earnings were around $2.5 million for the same period, with a profit of about $600,000. Interestingly, digitalBTC actually reported a net loss […]

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Igot launches first bitcoin exchange in the UAE

Posted on August 29, 2014

The first bitcoin exchange in the United Arab Emirates (UAE) opened today, bringing a fully licensed digital currency commercial brokerage to Dubai. The exchange is a branch office of Australia-based bitcoin exchange igot, and is the first stage of a planned expansion into the Middle East and Asia. Although there will be a small staff […]

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China’s Huobi exchange passes proof-of-solvency audit with 103% fund reserves

Posted on August 29, 2014

The final member of China’s “big three” bitcoin exchanges has passed a proof-of-solvency audit with flying colors. In an independent audit published by Ripple Labs CTO Stefan Thomas, Huobi appears to have 103.52% of total customer deposits in reserve. Thomas provided the auditing service free of charge, as he did when auditing Kraken and Bitfinex […]

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BTC China claims 100% proof-of-reserve status following audit

Posted on August 27, 2014

Another of China’s “big three” bitcoin exchanges has seemingly passed a proof-of-reserve audit with flying colors. BTC China announced the results of their audit on Monday, although translations of the full text have only recently become available in English. The audit was verified by a panel of five well-known Chinese bitcoin advocates, who checked BTC […]

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Korean bitcoin exchange Korbit raises $3 million in new funding round

Posted on August 26, 2014

South Korean bitcoin exchange Korbit announced this week that it has joined the ranks of multimillion-dollar bitcoin startup club, gaining $3 million in venture capital in a Series A funding round. The exchange has already received $600,000 in angel and VC investment, bringing its total funding to date to $3.6 million. The most recent round […]

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Bullion dealer Agora Commodities plans to launch cryptocurrency exchange

Posted on August 25, 2014

In a new CoinDesk profile of bitcoin-friendly precious metals retailer Agora Commodities, the credit-card eschewing bullion company dropped an interesting detail about their future plans. Agora founder Joseph Castillo told the website that his company is in the process of preparing to open a new digital currency exchange. Although there was no stated timeline for […]

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China’s OKCoin passes audit with 104.86% of customer BTC in reserve

Posted on August 22, 2014

Chinese bitcoin exchange OKCoin have announced the results of their recent audit, revealing that the exchange holds 104% of the BTC needed to all cover customer deposits. The audit was conducted over four days by Ripple Labs CTO Stefan Thomas, who performed similar audits for Kraken and BitFinex earlier this year. OKCoin announced the results […]

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Second state-approved Thai bitcoin exchange suggests reversal on “bitcoin ban”

Posted on August 21, 2014

The Bangkok Post reported this week that Thailand’s business authorities have officially registered bitcoin exchange Coins Co., making the company a fully legal e-commerce company in the country. The move strongly suggests that the seemingly hostile attitude towards digital currency seen earlier this year from Thai authorities, including a statement from the Bank of Thailand […]

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Singapore’s BitX secures $800k in venture capital funding for emerging market expansion plans

Posted on August 19, 2014

Venture capitalists and angel investors are betting big on bitcoin’s appeal in emerging-market economies, a trend only reinforced by BitX’s latest fundraising announcement. The Singapore-based bitcoin services provider revealed today that it has raised $824,000 in a seed-funding round. Investors include London-based Ariadne Capital and Palo Alto-based investor Carol Realini, as well seemingly ubiquitous bitcoin-backer […]

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Bitcoin-focused security firm Wiz Technologies may be on the verge of cracking Mt.Gox heist

Posted on August 18, 2014

The collapse of Mt.Gox still looms large in the bitcoin world. In a matter of weeks, the once-iconic Tokyo-based exchange crumbled amid vague and as-yet unsubstantiated claims of hacking. Not surprisingly, many have since come to suspect that there’s more to the Mt.Gox story than has been revealed. Without access to the company’s internal database, […]

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Kraken to launch Japanese exchange

Posted on August 17, 2014

San Francisco-based cryptocurrency exchange Kraken is no stranger to the international bitcoin market. Although the company is based in the U.S., the exchange doesn’t do much business in dollars, preferring instead to avoid the finicky, risk-averse, account-closure prone American banking system as much as possible. While most of its business is in euros, Kraken’s founder […]

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Is today’s price crash solely the result of a new bitcoin derivates market?

Posted on August 14, 2014

While most of the Western bitcoin trading world was asleep this morning, the bitcoin market was inexplicably crashing. Around 3 a.m. EST, a series of largely automated events on BitFinex caused the price to collapse from the $525 range to a staggering $451. While the drop lasted for a matter of seconds, the price has […]

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Indian bitcoin startup Unocoin raises $250,000 in new fundraising round

Posted on August 11, 2014

Thus far, India has been a tough market for bitcoin to break into. With an estimated 41% of India’s population “unbanked” (and well over 60% in rural areas) and a massive $70 billion remittance market, it’s also a country where bitcoin could have a huge impact. With that in mind, Bangalore-based startup Unocoin has been […]

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Mt. Gox bankruptcy proceedings delayed another six months as filing deadlines extended

Posted on August 11, 2014

Defunct Tokyo-based bitcoin exchange Mt.Gox recently announced that the resolution to its ongoing bankruptcy case will be delayed by at least another six months. In a new update to Mt.Gox’s website, court-appointed trustee Nobuaki Kobayashi said that an order issued last month by the Tokyo District Court 20th Civil Division has pushed the claim-filing period […]

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Chinese cryptocurrency exchange Huobi buys Quickwallet and Qukuai

Posted on August 8, 2014

Chinese bitcoin and litecoin exchange Huobi announced this week that it has acquired two significant cryptocurrency properties: Multi-signature wallet provider Quickwallet and blockchain explorer system Qukuai. The new services will dramatically expand Huobi’s commercial offerings, and may well represent an attempt to grow the company beyond its current niche as one of the “big three” […]

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Atlas ATS expands into Europe

Posted on July 29, 2014

Bitcoin-exchange platform provider Atlas ATS has announced new plans to expand its services into the rapidly growing European bitcoin community. In a press release published yesterday, the New York-based trading company said it will be partnering with Spanish bitcoin company Recol to launch Atlas ATS Europe. European users may know Recol as the operators of […]

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Trucoin announces new partnership, expanding service to 38 U.S. states

Posted on July 25, 2014

Earlier this month, long-simmering digital currency-exchange platform Trucoin launched an 8-state beta test of an instant bitcoin-purchasing system. By simply logging in via an existing social media profile and entering credit card information, users could purchase bitcoin in a matter of moments, rather than the days-long payment verification process currently used by brokers like Coinbase. […]

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New York-based bitcoin exchange Coinsetter exits beta testing

Posted on July 24, 2014

After nearly two years of testing and preparation, New York City-based bitcoin exchange Coinsetter is officially open for business. Although it isn’t the first U.S.-based bitcoin exchange by any means, Coinsetter is the first to be aimed firmly at the Wall Street Market. The exchange has been operating in beta since last November, working with […]

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Mt.Gox creditors meeting provides little news

Posted on July 23, 2014

A closed-door meeting of Mt.Gox customers and other creditors held today in Tokyo provided little solace to those who lost their funds on the shuttered bitcoin exchange. The meeting provided those burned by the exchange their first face-to-face interaction with Mt.Gox CEO Mark Karpeles, who gave a brief apology for the situation but otherwise left […]

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New Japanese bitcoin exchange planned by former Goldman Sachs trader

Posted on July 22, 2014

In the nearly six months since Mt.Gox imploded, two major things have happened to the bitcoin community in Japan. The first is that Japan’s population became aware of bitcoin in a very big way, as coverage of the failed exchange and the $500 million loss became headline news in a country that had previously seen […]

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BTC China adds USD and HKD deposits and withdrawals

Posted on July 21, 2014

Major Chinese bitcoin and litecoin exchange BTC China announced today that they have added support for U.S. dollars (USD) and Hong Kong dollars (HKD) to their trading platform. The new system, currently undergoing an invite-only beta test, allows for deposits and withdrawals in both currencies under “international accounts,” while domestic accounts will be limited to […]

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Report: China’s OKCoin to support USD

Posted on July 20, 2014

Broadly speaking, the bitcoin exchange world is divided into two camps: Those who deal in U.S. dollars, and those who deal in Chinese yuan (renminbi). Sure, there are exchanges that focus on Canadian dollars, Euros, Thai baht and almost every local currency, but the bulk of bitcoin’s trade volume is still dominated by USD and […]

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After customer backlash, Vault of Satoshi eliminates “selfie” requirement

Posted on July 17, 2014

In an attempt to halt a flood of fraudulent transactions from the Interac payment system, Canadian digital currency exchange Vault of Satoshi (VoS) announced yesterday that it would be adding another layer to its customer-verification process. The concept was simple: Take a selfie while holding up a hand-written note and a government-issued ID. According to […]

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New York Department of Financial Services releases “BitLicense” rules draft

Posted on July 17, 2014

The New York Department of Financial Services (NYDFN) published the draft version of their regulatory framework for bitcoin and other digital currencies this morning. The “BitLicense” rules are aimed largely at digital currency service providers, such as exchanges and hosted wallet companies, and would effectively exempt any company using a third-party bitcoin payment service from […]

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BitOcean and Atlas ATS announce bid to buy Mt.Gox assets

Posted on July 15, 2014

As the burned-out husk of Mt.Gox winds its way through the Japanese bankruptcy system, a new partnership between Chinese ATM maker BitOcean and New York-based exchange-platform provider Atlas ATS will soon be vying for its assets. The company, BitOcean Japan, was profiled by the Wall Street Journal yesterday. According to the story, the partnership has […]

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Swedish bitcoin exchange Safello picks up $250,000 in funding

Posted on July 11, 2014

Earlier this year, Swedish bitcoin exchange Safello made headlines for snagging roughly $600,000 in venture capital from some of the heaviest hitters in the bitcoin world: Erik Voorhees, Roger Ver and Blockchain.info CEO Nicolas Cary. Yesterday, Safello announced that it had raised an additional $250,000 in VC funds, this time from Bitcoin Opportunity Corp (BOC), […]

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Is itBit’s New York relocation an indicator of things to come?

Posted on July 8, 2014

In a blog post published yesterday, Singapore-based bitcoin exchange itBit announced plans to relocate its main office halfway across the planet to New York City. The move appears to signal a growing sense that the safest setting for bitcoin-based trading is no longer the relatively permissive Southeast Asian city-state, but rather the soon-to-be regulated by […]

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Is litecoin’s crash an indicator of a “decoupling” from bitcoin?

Posted on July 4, 2014

As bitcoin’s price was recovering to pre-Mt.Gox collapse levels this week, competing cryptocurrency litecoin (LTC) was dropping in like a stone. On July 1, LTC fell from nearly $9 to $7.90, one of the most dramatic crashes it has experienced in months, and the overall downward trend has continued heading into the July 4th weekend. […]

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Venture capitalist Tim Draper revealed as winner of Silk Road auction

Posted on July 2, 2014

Earlier today, venture capitalist and angel investor Tim Draper announced that he was the sole winner of the nearly 30,000 BTC auction of bitcoins seized from the Silk Road. Draper’s firm, Draper Fisher Jurvetson, is extremely well known in investment circles, backing high-profile projects like Skype, Hotmail and Tesla Motors long before they were known […]

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Mt.Gox CEO Mark Karpeles breaks silence on failed exchange

Posted on June 27, 2014

There are few people in the bitcoin community in need of a public-relations makeover more than Mark Karpeles. As the sole person in charge of the code when Mt.Gox lost roughly $500,000,000 in customer deposits, Karpeles has become the target of ridicule, anger, death threats, lawsuits and criminal investigations. While all of that is completely […]

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Forbes: Bitcoin’s “backbone” controlled by “two young Slovenians”

Posted on June 26, 2014

It’s hardly a secret that one of the bitcoin community’s weakest links are its legacy exchanges. Less than six months ago, the failure of the then-biggest and best-known exchange, Mt.Gox, unleashed a tidal wave of negative coverage that still colors the public perception of digital currency. While a new generation of cryptocurrecy exchanges like Vault […]

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Is NASDAQ creating a bitcoin exchange?

Posted on June 25, 2014

The New York Post reported today that the NASDAQ, one of the largest stock exchanges in the world, is quietly building a bitcoin exchange. With regulators at the New York Department of Financial Services widely expected to publish new rules for bitcoin exchanges by the end of summer, the tech-friendly NASDAQ is in a strong […]

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Report: Swiss regulators approve bitcoin ATM network

Posted on June 20, 2014

Regulators in Switzerland have approved a plan by bitcoin ATM operator SBEX SA to launch their planned network of machines across the country. Earlier this month, the Swiss Financial Market Supervisory Authority (FINMA) halted plans by another bitcoin startup, Bitcoin Suisse AG, pending a legal review. With the regulatory issues seemingly resolved, SBEX can now […]

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Report: CoinLab drops Mt.Gox bankruptcy filing objection

Posted on June 10, 2014

Last month, Seattle-based bitcoin services company CoinLab filed an objection to a plan that begin the rehabilitation of shuttered Tokyo-based exchange Mt.Gox. Late last week, however, CoinLab announced that it was withdrawing its objection and is now supporting the Chapter 15 bankruptcy filing. The Wall Street Journal reports that while CoinLab does not change the […]

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Coinbase’s $10 giveaway to college students results in 20,000 new bitcoin users in two weeks

Posted on May 30, 2014

Earlier this month, bitcoin services provider Coinbase announced a plan to give $10 worth of BTC to every college student opening a new account. Not surprisingly, giving away free money to college students sparked considerable interest on campuses across the nation, resulting in 20,000 student sign ups. Given the high cost of effective advertising in […]

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Mt.Gox parent company Tibanne to sell off “bitcoin” trademark and Bitcoins.com domain

Posted on May 28, 2014

Named after Mark Karpeles’s cat, Mt.Gox parent company Tibanne owned more than a shockingly insecure bitcoin exchange. The company also held the Japanese and European Union trademarks on the word “bitcoin,” as well as the now-quite-valuable bitcoins.com domain name. With all of Mt.Gox’s operations effectively dead, save for a sliver of hope by some that […]

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Bitstamp passes audit from Bitcoin developer Mike Hearn

Posted on May 27, 2014

Last week, Bitcoin developer Mike Hearn and Richard Muirhead of Firestartr subjected U.K.-based bitcoin exchange Bitstamp to a proof-of-reserve audit. Bitstamp is widely thought to be the largest bitcoin exchange in the world in terms of trading volume, and is under increasing scrutiny from investors to verify its deposits as bitcoin gains mainstream attention. According […]

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Proposed Mt.Gox plan slapped with objection by CoinLab

Posted on May 27, 2014

Long before Mt.Gox revealed that lost hundreds of millions of dollars in customer funds due to bad coding, security issues and negligence, the Tokyo-based exchange was involved in another high-profile case with Seattle-based virtual-currency startup CoinLab. With a proposed plan to settle most of Mt.Gox’s bankruptcy debits working its way through the international legal system, […]

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Kenya’s BitPesa enters beta testing for bitcoin-based remittance service

Posted on May 24, 2014

It’s hardly a secret that Africa’s remittance fees are some of the highest in the world. In April, a report by the Overseas Development Institute (ODI) revealed that large money-transfer companies like Western Union were charging huge rates in some of Africa’s poorest nations, with average fees of around 12% for sending $200. The ODI […]

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BIP 70 protocol gains ground with Coinbase integration

Posted on May 23, 2014

If there is a single technical development likely to increase bitcoin’s mainstream appeal, it’s BIP 70. The protocol, introduced in the March 0.9.0 update of Bitcoin Core, is arguably the first major toolset for making the bitcoin experience user-friendly. Among other innovations, BIP 70 allows users to display their addresses in human-readable text rather than […]

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Canada’s Vault of Satoshi announces instant deposits, pre-paid debit cards and more

Posted on May 22, 2014

Canadian virtual currency exchange Vault of Satoshi (VoS) recently announced several major new services for its rapidly growing customer base. The announcement is the first of two major “Summer Update” announcements, with the second planned in the near future. VoS Director of Marketing Adam Cochran posted the announcements to several popular bitcoin forums, as well […]

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Report: Huobi and OKCoin discuss bitcoin’s future in China

Posted on May 19, 2014

China’s six-month banking crackdown on bitcoin-related businesses has resulted in huge headaches for the entire cryptocurrency community. Due to the People’s Bank of China strangling of local bitcoin exchanges’ access to the country’s banking system, there is significant doubt about the future of bitcoin in mainland China. Many smaller exchanges, such as FXBTC, have already […]

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After months of speculation, Circle finally unveils its business model

Posted on May 16, 2014

In October of last year, tech entrepreneur Jeremy Allaire announced he would soon be launching a new bitcoin-related project called Circle. It was hailed by insiders as one of the biggest developments in the bitcoin to date, launching with over $9 million in venture capital investment. A few months later, another $17 million in VC […]

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Report: Is China blocking bitcoin websites?

Posted on May 16, 2014

BTC China CEO and Bitcoin Foundation board-member elect Bobby Lee thinks China may be blocking bitcoin-related sites. Speaking with CoinDesk today, Lee said that he’s hearing regular reports of users being unable to access websites such as Coinbase, Blockchain and BTC-e in otherwise normal browsing sessions. Lee reports that the “locking of these websites seems […]

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Report: U.S. District Judge approves prelimary Mt.Gox settlement

Posted on May 15, 2014

At a hearing in federal court yesterday, U.S. District Judge Gary Feinerman gave Sunlot Holdings and a collection of Mt.Gox creditors preliminary approval to move forward with a settlement plan for the defunct Tokyo-based bitcoin exchange. Under the agreement, Sunlot and its partners would acquire Mt.Gox’s debits and assets for a single bitcoin. The move […]

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