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Tag Archives: Funds

Major Stablecoin Basis to Close, Return Funds to Investors: Sources

Major United States-based stablecoin project Basis will shut down operations and return most of its funds to investors, crypto news outlet The Block reports today, Dec. 12. Citing “multiple people with direct knowledge of the situation,” the reports states that the algorithmic stablecoin project is set to return the majority of the $133 million in funding it raised in a ...

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Crypto Platform Cubits Begins Insolvency Procedure After Alleged Hack, Locks Users’ Funds

United Kingdom-based cryptocurrency payment platform Cubits has filed for administration following a sudden outage that locked customer funds, a company press release revealed Dec. 11. The act of filing for administration means that an insolvent company has appointed an external administrator in order to act on behalf of its creditors. Cubits, the trading name of legal entity Dooga Ltd., claimed ...

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$170,000: Bitcoin Investor Fails to Backup Recovery Password, Loses Access to Funds Blockchain Wallet

/latest/2018/12/170-000-bitcoin-investor-fails-to-backup-recovery-password-loses-access-to-funds-bitcoin-wallet/ 170-000-bitcoin-investor-fails-to-backup-recovery-password-loses-access-to-funds-bitcoin-wallet Kerem Albayrak , a resident of Istanbul, Turkey, claims he lost access to $170,000 in digital currency as he did not properly back up his recovery phrase to his cryptocurrency wallet. In a Reddit post , Albayrak explained in detail what happened. He first noted that he bought an iMac for his new office and that he had created ...

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Institutional Investors Still Interested? Bitwise Releases Bitcoin and Ethereum Funds

The creator of the world’s first cryptocurrency index fund has launched two liquid beta funds holding bitcoin and ether exclusively to address market demand. The Bitwise Bitcoin Fund and the Bitwise Ethereum Fund are available in two share classes, Institutional Shares and Investor Shares. Bitwise Funds Open to Minimum Investment of $25,000 for Retail Investors and $1 Million for Institutionals ...

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Man Tortured For His Bitcoin: 4 Ways to Protect Your BTC Funds

A Bitcoin trader from South Africa has reportedly been drugged, kidnapped, and tortured over his Bitcoin holdings. The assault happened after the man followed an invite to an anonymous presentation, highlighting the threats lurking on the internet.  Kidnapped Over Bitcoin  A bitcoin trader from the area of Lanseria in Johannesburg, South Africa, has reportedly been involved in what seems much ...

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Bitwise Launches Bitcoin, Ethereum Beta Funds to ‘Capitalize’ on Market Downturn

Digital asset manager Bitwise has launched two new beta funds for Bitcoin (BTC) and Ethereum (ETH), according to a press release Dec. 5. The launch of the new products reportedly aims to provide a “low-cost” and “liquid” means of capturing returns on both high-profile assets, currently trading 81 and 92 percent respectively below their all-time highs. As per the press ...

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Swiss Fintech License Allows Blockchain, Crypto Firms to Accept $100 Mln in Public Funds

The Swiss Financial Market Supervisory Authority (FINMA) has released guidelines for their new “FinTech” license, according to a FINMA official press release released Dec. 3 The Swiss financial regulator revealed that license pursuants, which can be blockchain-related and crypto-related firms, will be able to apply for the fintech license with the state authority starting from 2019. The license, which FINMA ...

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Ohio Technology Funds Announce $100M Support for Blockchain Startups

Recently, the CEO of Ohio-based nonprofit JumpStart Inc. announced that his company, along with six others, would invest vast sums of money into Ohio’s blockchain startups. As covered in Cleveland-based news organizations, JumpStart Inc.’s CEO Ray Leach initially announced this donation. Collectively, the seven different funds, which are all based in Ohio, are commitmed “to invest $100 million in early-stage ...

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Investment Funds Network to Migrate Entire System to Blockchain in 2019

Investment funds transaction network Calastone, a founding member of the Linux Foundation-led Hyperledger Project, is shifting its entire system to the blockchain. The firm, which assists its client sell their funds all over the world via banks and financial advisors, expects to complete the switch to what it is calling the Distributed Market Infrastructure (DMI) next year in May. Calastone ...

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UK-Based Global Funds Network Calastone to Switch Entire System to Blockchain In May

London-based global funds network Calastone is switching its entire system for fund trade clearing services to blockchain this May, Reuters UK reports today, Dec. 3. Calastone processes mutual fund trades for over 1,700 financial companies, including JPMorgan Asset Management, Schroders, and Invesco, according to Reuters. The move will transform current services by using a shared ledger to automate the nine ...

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