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A startup in San Francisco that is funded by Coinbase Ventures and UC Berkeley’s House Fund has revealed the launch of a Plasma Cash feature to be integrated on Ethereum’s Rinkeby testnet and a side chain.
As reported by Trust Nodes, the co-founder and CEO of Elph, Ritik Malhotra stated:
“By moving transactions and smart contracts onto a Layer 2 environment using the power of Plasma architecture, Elph can help Ethereum dApp developers scale, secure and speed up their applications, opening up the potential of what can be accomplished on the blockchain.”
Israel-based startup StarkWare, which commercializes the STARK zero-knowledge proof system for privacy blockchains, recently closed a $ 30 million Series A round led by Paradigm, with participation from Coinbase Ventures and several other firms. 1/4 We're excited to announce our $ 30M Series A equity round, led by @paradigm: Read more here: https://t.co/EZOxqChUC8 (thread) — StarkWare Industries (@StarkWareLtd) October […]
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Today, Medici Ventures announced that its portfolio company Bitsy.com has launched the limited beta edition of a high-tech digital wallet service that aims to develop a simple, secure, and convenient bridge between fiat currencies and cryptocurrencies.
Bitsy Wallet to Offer Cool New Features
The wallet’s initial beta release will support Bitcoin (BTC) transactions, with more coins to follow soon. Unlike other wallet providers which only use derivative claims on coins owned by the provider, Bitsy users hold the actual physical Bitcoins via private key ownership. They retain complete control over their funds, including the ability to transfer and spend. Biometric security measures like fingerprint scanning and facial recognition will help protect against hacks and lost passwords. In case a wallet is lost or destroyed, Bitsy’s key recovery system will offer a unique way to recover funds, a patent-pending mechanism to regenerate private keys in dire situations.
Medici Ventures, Overstock’s blockchain technology company, has invested an undisclosed sum in a Utah based company called Bitsy that specializes in bridging cryptocurrencies with fiat. The investment marks one of several that Medici Ventures has made in recent years as its parent company, under the leadership of CEO Patrick Byrne, continues to tout blockchain technology’s
The post Medici Ventures’ Latest Blockchain Investment Bridges Fiat With Crypto appeared first on CCN
Morgan Stanley has become the latest Wall Street firm to venture into Bitcoin trading, with reports emerging that the investment bank intends to offer its clients derivatives tied to the crypto. Citing a source with knowledge on the matter, Bloomberg reported today, September 13 that the bank has already set up the infrastructure required for the trading and only awaits confirmation of sufficient institutional demand. Morgan Stanley follows the footsteps of other Wall Street giants such as Citigroup and Goldman Sachs which have continued to warm up to cryptos and have made strategic steps to be at the forefront of the quickly evolving industry.
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ConsenSys, the Ethereum production studio based in the U.S., launched ConsenSys Ventures last year selecting Kavita Gupta to run two funds of $ 50 million and $ 100 million.
Bitcoin Magazine caught up with ConsenSys’ Gupta to discuss the launch of project Tachyon and the launch of ConsenSys India, as well as the various factors that come into play in deciding where to allocate funds.
Switzerland’s financial market supervisor, FINMA held discussions with the country’s bankers’ association and the Swiss National Bank (SNB), on how to improve cryptocurrency ventures’ access to banks. This is in response to the exit by some crypto-enterprises that are opting to move their business to other territories.
Switzerland the Crypto-Nation
According to Reuters, Swiss regulators have been taking steps to maintain the country’s reputation as a cryptocurrency friendly jurisdiction and to prevent the departure of virtual currency projects that have traditionally had limited access to the formal financial system.
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Union Square Ventures, a New York-based venture capital firm that manages $ 1 billion in assets, is planning on it rich by investing in the blockchain and cryptocurrency industry — which it views as potentially being worth a trillion dollars in the future.
‘It’s not at all crazy’
Union Square Ventures, named after its location in New York City, has already invested in popular San Francisco-based cryptocurrency exchange Coinbase. However, it currently has no plans to launch a separate fund.
Coinbase’s new VC arm raises thorny questions about the influence the startup wields across the crypto market and potential conflicts of interest.