Monthly Archives: July 2014

Report: Elliptic raises $2 million in seed funding

Posted on 16th July, 2014

Bitcoin “vault” provider Elliptic announced today that it has secured £1.2 million ($2 million) in a seed funding round led by Octopus Investments. The U.K.-based company is best known for its “enterprise-grade insured storage” of bitcoin, meeting the standards required for institutional-level investments. The investment marks the first major injection of bitcoin-focused venture capital funds […]

TradeBlock raises $2.8 Million in seed funding

Posted on 16th July, 2014

Cryptocurrency analytics and data provider TradeBlock announced today that it had secured $2.8 million in seed-round funds. Investors include many of the usual suspects, such as Andreessen Horowitz, FinTech Collective and Second Market’s Barry Silbert. The company’s founders describe it as “the Bloomberg of bitcoin,” an elevator pitch that appears to have been developed during […]

Report: BTCJam and Digital Mining Investments lose nearly $200,000 to alleged scam artist

Posted on 15th July, 2014

In a report published today on CoinDesk, a former employee of Tampa-based bitcoin mining operation Digital Mining Investments (DMI) allegedly stole over $165,000 in mining hardware and another 55 BTC ($35,000)in donations from popular bitcoin lending site BTCJam. The company claims that the man, using the assumed name Jon Simms, spent months building up trust […]

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

Posted on 15th July, 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 […]

Report: CEO of Japanese online retail giant Rakuten says company will accept bitcoin “sooner or later”

Posted on 15th July, 2014

In a speech published by Japanese newspaper Mainichi Shimbun, Rakuten CEO Hiroshi Mikitani mentioned his company’s likely integration of bitcoin payments later this year. Speaking to a meeting of Rakuten Ichiba (Rakuten Marketplace) e-commerce merchant partners, Mikitani said that the “internet revolution” was accelerating, and that Rakuten will “sooner or later” start accepting bitcoin. According […]

E-commerce platform Shopify launches full Coinbase integration

Posted on 15th July, 2014

Shopify is one of the giants of the e-commerce world, enabling easy-to-implement shopping carts for over 100,000 websites. If you’ve ever ordered merchandise directly from the website of a band, sports team or popular website, odds are that their store was powered by Shopify. Starting today, all of those online stores will be able to […]

Report: Shady cash-for-coverage policies plague bitcoin news sites

Posted on 14th July, 2014

How trustworthy are most bitcoin-focused media outlets? According to a “sting” operation conducted by tech reporter Tom Butterfield, not very. Curious about the journalistic ethics at work in this rapidly growing field, Butterfield decided to see which cryptocurrency news outlets would be more than happy to sacrifice their journalistic ethics for a fee. The trap […]

BitFury announces seed-investment fund

Posted on 14th July, 2014

In a short press release published over the weekend, bitcoin mining hardware maker BitFury announced the launch of a new venture capital fund to provide cryptocurrency startups with much-needed seed money. Dubbed BitFury Capital, the fund will “accelerate other parts of the [bitcoin] ecosystem through strategic partnerships, and expansion into adjacent business opportunities.” In addition […]

Report: OKCoin and Huobi plan to offer bank-like services

Posted on 14th July, 2014

It’s no surprise that cryptocurrency exchanges OKCoin and Huobi managed to recover after the slaughter of China’s “bitcoin ban” earlier this year. While other exchanges were complying with the rules established by the People’s Bank of China (PBoC), and hoping that the still-tiny bitcoin industry would fly under the regulators authority, OKCoin and Huobi were […]

Mining difficulty increases by 3%, lowest since early 2013

Posted on 14th July, 2014

Ask any bitcoin miner about the constant grind of mining difficulty increases, and you’ll rarely hear anything positive. From the miners’ perspective, a rapidly rising difficulty doesn’t mean that the network is growing healthily and becoming more secure, it means that their already thin profit margins will be taking another hit. A single, double-digit jump […]