Tag Archives: Bitcoin News

#Blockchain Cryptograffiti’s Latest ‘Running Bitcoin’ Portrait Sees Auction Bids of Over $30K

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Cryptograffiti's Latest 'Running Bitcoin' Portrait Sees Auction Bids for Over $30K

In roughly three days, on Feb. 7, Cryptograffiti’s latest art auction on Bitify will come to an end. “Running Bitcoin,” a tribute to the legendary cryptographer Hal Finney, currently has a bid of $31,000 at the time of writing. Over the past few months, Cryptograffiti has been creating very interesting pieces and unique auctions that showcase the bitcoin ecosystem from a different perspective.

Also read: Cryptocurrencies Have Spawned an Eclectic Underground Art Movement

Repurposed Credit Cards and Bolivars

Even if you don’t know Cryptograffiti by name, you’ve probably seen his artwork featured online and on the streets. For instance, one of the artist’s most popular pieces sold last year for $33,000 in cryptocurrency. The work was dubbed “Terrible Store of Value” and was in response to JP Morgan CEO Jamie Dimon’s commentary. Cryptograffiti is also known for his inventive mediums because he doesn’t just use traditional paints and ink. The artist uses repurposed credit cards and U.S. dollars in some of his unique pieces. This week, Cryptograffiti created a picture of Venezuela’s president Nicolás Maduro using Venezuelan bolivars.

Cryptograffiti's Latest 'Running Bitcoin' Portrait Sees Auction Bids of Over $30K
The picture to the left is Cryptograffiti’s latest art, which is made of repurposed bolivars and is a portrait of Venezuela’s president Nicolás Maduro. The picture to the right is a portrait of JP Morgan’s boss Jamie Dimon called “Terrible Store of Value,” which sold for $33,000 in bitcoin.

Artwork That Commemorates the 10th Anniversary of Hal Finney ‘Running Bitcoin’

This week will see the end to another Cryptograffiti art sale hosted on the cryptocurrency auction site Bitify. The latest work being auctioned is called “Running Bitcoin,” an ode to the well known cryptographer Hal Finney. Tales of the Bitcoin network’s early days say that Hal was the first person to receive bitcoins from Satoshi back in 2009. The portrait is placed on a safety deposit box and made with small fragments of credit cards.

Cryptograffiti's Latest 'Running Bitcoin' Portrait Sees Auction Bids of Over $30K
The artwork “Running Bitcoin” has three days left until the end of the auction and already has a bid for $31,000. Half the proceeds will be donated to help people battling ALS, a disease that Hal Finney suffered from. 

There’s also an old signed credit card of Hal’s attached to the artwork which was given to Cryptograffiti as a gift from Hal’s wife Fran Finney. Not only is Cryptograffiti’s latest work called “Running Bitcoin,” but the artwork also runs a full node by using a wifi-enabled Casa Node attached to the box. Another interesting fact about the Finney portrait’s auction is that half the proceeds will be donated to an organization that helps people fighting ALS.

“50% of the auction proceeds will go to the ALS Association Golden West Chapter who supported Hal during his battle with Amyotrophic Lateral Sclerosis,” explained Cryptograffi

Black Swan Sold to the Lowest Micro-Bidder

Last December, Cryptograffiti held another auction for a piece called “Black Swan” which was made from repurposed U.S. dollar bills. Unlike traditional auctions, the artwork was sold to the lowest micro-bidder.

Cryptograffiti's Latest 'Running Bitcoin' Portrait Sees Auction Bids of Over $30K
Black Swan.

The really tiny piece of art measured 1.44 in x 1.75 in and the auction used the Lightning Network for bids. On Dec. 19, 2018, at 4 p.m. PST, Black Swan sold for 1 milli-satoshi or $0.000000037 worth of BTC. The small image made of fiat also came with a counterfeit pen used by merchants to tell whether or not a banknote is legitimate.

“Yesterday I auctioned this piece to the lowest bidder to help promote the Lightning Network and poke fun at MSM’s focus on bitcoin’s price,” explained Cryptograffiti at the time.

Cryptograffiti's Latest 'Running Bitcoin' Portrait Sees Auction Bids of Over $30K
The Black Swan auction using the Lightning Network.

Many renaissance movements, especially those that have truly affected the world’s economy, have spread beyond the financial sectors of society and filtered into the world of music, theatre, and art. Bitcoin’s surrounding economy is no different and Cryptograffiti’s artwork and the many other digital currency artisans are proof of these evolutionary changes affecting various facets of our lives. The artist’s latest work which commemorates the 10th anniversary of cryptographer Hal Finney’s involvement in Bitcoin is just another example of this trend.

What do you think about Cryptograffiti’s work and auctions? Let us know what you think about this subject in the comments section below.

Image credits: Cryptograffiti.

Need to calculate your bitcoin holdings? Check our tools section.

The post Cryptograffiti’s Latest ‘Running Bitcoin’ Portrait Sees Auction Bids of Over $30K appeared first on Bitcoin News.

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#Blockchain Bitcoin Cash Clothing Charity Expands to a Dozen Cities Across Canada

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Coins 4 Clothes, a cryptocurrency charity that rewards people with bitcoin cash (BCH) for donating gently used items of clothing, has announced the expansion of the organization to a dozen cities across Canada, exactly a year after it was first launched.

Also Read: The Daily: Twitter CEO Talks Bitcoin, Bitstamp Releases New Mobile App

Helping People From Toronto to Vancouver

The Toronto-headquartered organization Coins 4 Clothes is now also operating in Hamilton, Oakville, Vancouver, Whistler, Montreal, Quebec City, Calgary, Red Deer, Edmonton, Winnipeg, and Saskatoon. The group announced that people who live in any one of these cities can browse through local charitable options on its website which the team has audited to ensure they use donations responsibly and that the clothes are really going to those who need the support.

Bitcoin Cash Clothing Charity Expands to a Dozen Cities Across Canada

Coins 4 Clothes was launched back in February 2018 and is marking its first anniversary this month. According to its website, the charity has already facilitated the donation of over 3,200 articles of clothing and at the same time managed to entice 43 clothing wholesalers to open new bitcoin cash wallets by buying more items from them with BCH donations it raised from the community.

Supported Local Charities

Among the approved charitable options available for Canadians to support via Coins 4 Clothes, there are charities which help homeless people with basic needs of clothing, food and shelter; an organization which assists homeless women in finding appropriate clothes for new jobs and job interviews; a charity which provides vulnerable women and their babies with clothing, educational and vocational training; a group which provides babies born to families in extreme need with basic essentials for their first year of life and more. If you live in Canada, you can also nominate another charity in your city that you think will fit in the program.

What do you think about this BCH charity expending across Canada? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Bitcoin Cash Clothing Charity Expands to a Dozen Cities Across Canada appeared first on Bitcoin News.

from Bitcoin News http://bit.ly/2WDHAHU Bitcoin Cash Clothing Charity Expands to a Dozen Cities Across Canada

#Blockchain Coinsquare Lays off 40 Employees in a Troublesome Month for Crypto Exchanges

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Coinsquare Lays off 40 Employees in a Troublesome Month for Crypto Exchanges

Leading Canadian cryptocurrency exchange Coinsquare has reportedly laid off almost a third of its staff. The news comes after at least five other trading platforms found themselves in trouble during the past month. From the need to adapt to a prolonged bear market, overcome financial difficulties and technical issues, to coping with coin losses and hacker attacks, the dawn of 2019 has exposed some of the acute challenges the industry is facing.  

Also read: Crypto-Stealing SIM Swapper Pleads Guilty, Gets 10 Years in Prison

2 Executives Among Terminated Coinsquare Employees

One of the leading digital asset exchanges in Canada, Coinsquare, has recently decided to lay off approximately 40 out 150 staff members, Betakit reported, quoting multiple sources. Among the people in different roles whose contracts have been terminated are two key executives – COO Robert Mueller, who joined Coinsquare about a year ago, and CFO Ken Tsang, an investment banker formerly employed by major financial institutions such as Bank of Montreal and Bank of Canada. The company’s Head of Talent Martin Hauck announced on Linkedin:

The ever-evolving cryptocurrency space has been volatile and unpredictable. Many similar companies in our industry have had to make some tough choices in recent months and Coinsquare has had to as well. The company has made the decision to part ways with a number of talented members of the Coinsquare team.

The latest round of layoffs at Coinsquare comes after approximately 20 employees across various departments were terminated in July of last year. The company has been trying to restructure and even expand its business. In December, it entered 25 new markets in the European Union and last summer launched a crypto trading platform in Japan. It entered into partnerships with global blockchain investment bank Dlta 21 and the Bank of Montreal.

Coinsquare Lays off 40 Employees in a Troublesome Month for Crypto Exchanges

In December, the company also acquired crypto wallet provider Blockeq for $12 million. And despite the layoffs, the exchange has also hired over 20 new employees, Coinsquare CEO Cole Diamond revealed. This includes 14 people who joined the team after the acquisition of Tipcoin, a company that develops a blockchain-based loyalty rewards platform.

The executive added that in “the most volatile market,” the company’s staff grew from three people to a high of 150. “We’ve decided to make some cutbacks to make sure we protect our strong position in the market,” he explained, noting the challenges other Canadian exchanges are facing and the fact that Coinsquare’s main competitor in the country, Quadrigacx, is now offline.

5 Other Crypto Exchanges in Trouble

In recent weeks, there have been multiple reports about exchanges experiencing various difficulties that have led to their temporary or permanent closure. Quadrigacx is indeed one of the troubled crypto trading platforms. The exchange filed for insolvency and applied for creditor protection with the Nova Scotia Supreme Court. It has lost access to “significant cryptocurrency reserves held in cold wallets” after the death of its CEO Gerald Cotton. In total, $145 million worth of digital assets is missing.

Financial problems have dogged other crypto exchanges. Coinpulse announced recently it’s going into “indefinite maintenance” after negotiations with a potential investor took longer than expected. The platform suspended trading and deposits on Feb. 1 and said it will keep withdrawals open only until Feb. 7. Last week, the small Ukrainian exchange Liqui informed users it’s no longer able to provide liquidity. Its team asked clients to withdraw their funds within a month.

Coinsquare Lays off 40 Employees in a Troublesome Month for Crypto Exchanges

Roobit, a young South Korean cryptocurrency exchange, has also filed for bankruptcy less than three months after its launch. According to local media, technical issues that led to financial losses are behind its decision to discontinue operations. A representative of the exchange stated in a Kakao Talk chat that “it is difficult to operate with a loss of 400 million won ($360,000) due to a system error” that resulted in wrong payments. Around 800 crypto investors have suffered losses, Sisafocus reported.

In mid-January, New Zealand-based exchange Cryptopia became the latest victim of a security breach when hackers reportedly stole around $16 million worth of cryptocurrency. Despite the ongoing police investigation, the unknown attackers managed to withdraw 1,675 ETH more from 17,000 Cryptopia wallets, according to research conducted by the data company Elementus.

What are your expectations for the future of crypto exchanges? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

Need to calculate your bitcoin holdings? Check our tools section.

The post Coinsquare Lays off 40 Employees in a Troublesome Month for Crypto Exchanges appeared first on Bitcoin News.

from Bitcoin News http://bit.ly/2WHu0Di Coinsquare Lays off 40 Employees in a Troublesome Month for Crypto Exchanges

#Blockchain Cryptocurrencies Have Spawned an Eclectic Underground Art Movement

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What do the art and cryptocurrency worlds have in common? Among other things, the love of the conceptual, evoking of the emotions and the tendency to confuse admirers. Over the past century, we have seen cubism, starting in the early 1900s, which opened the doors for art movements like surrealism, abstract, impressionism and pop art. We are now entering a new phase that fuses art with cryptocurrency to create hybrid exhibitions with names such as the “Bitcoin Art (r)Evolution” in France. 

Also Read: Bitcoin Graffiti: How the Economic Revolution Has Painted the Streets

Buying and Selling Art Using Crypto

Cryptocurrencies Have Spawned an Eclectic Underground Art MovementModernism in art connotes a rejection of conventions and a commitment to radical innovation. In the 20th century, modern art movements were fueled by a belief that human society would advance through the spread of democracy, capitalism and technological innovation. This dovetails nicely with crypto. Bitcoin has anti-capitalist features such as the ability to decentralize the banks and grant equal access to finance.

Movements such as fauvism, futurism, constructivism, suprematism, de stijl and the British art movement, vorticism, have all played a huge role in creative expression. Beneath the ‘isms’ and esoteric jargon is a belief that anyone can create or appreciate good art. Art is a visual representation of new age revolutionaries, not just for the elite rich and educated segments of society.

It comes as no surprise, therefore, that artists have been utilizing crypto to buy, sell and create art. For artists and collectors it is critical to understand the current trends that drive the market. Cryptocurrency, and the world it has spawned, has infused products and slowly invaded pop culture. There are a number of independent art galleries now jumping on the crypto bandwagon. At one London art gallery, a portion of Andy Warhol’s 1980 work “14 Small Electric Chairs” was sold as fractionalized ownership using cryptocurrencies.

Singapore-based collector Joe Nash is selling some of his Australian art collection through Visionairs Gallery, which also accepts cryptocurrencies. Florida based art gallery Lynx Art Collection is also accepting bitcoin payments. Then there are platforms such as Maecenas which claims to be “the first open blockchain platform that democratizes access to fine art.” 

In France a group of international artists put on a cryptocurrency art exhibition to celebrate its birthday. Dubbed the “Bitcoin Art (r)Evolution,” it aimed to show “the potential of cryptocurrencies through symbolism and practice,” and “illustrate the genesis of this digital revolution.”

Another interesting twist to the art world involves wannabe artists submitting art in return for tokens. For example the Scarab Experiment created in 2014 is a multi-user collective that uses artificial intelligence image processing to form a single work of art from one thousand submissions.

The Banksy of the Cryptocurrency World

Cryptocurrencies Have Spawned an Eclectic Underground Art MovementThen there are artist who are using crypto as the subject matter and inspiration behind their creations. In the U.K., Manchester-based Aktiv Protesk is part of a new wave of artists who uses cryptocurrencies. Dubbed the Banksy of the cryptocurrency world, Protesk relies on bitcoin to sell his art.

Recently, in the midst of the yellow vest protests in Paris, one popular street artist called Pascal Boyart, known as Pboy, created a mural depiction of the drama unfolding in France. The painting also features a puzzle containing 0.28 BTC for whoever can solve the mystery. 

The art world is rapidly adopting crypto and the movement has been going from strength to strength. Whether it’s through oil paintings, sculpture, street art, graffiti, visual and performing arts or other mixed media, the art and crypto love-in continues to smolder.

What do you think about crypto influencing the art world? Let us know in the comments section below.

Images courtesy of Shutterstock.

Need to calculate your bitcoin holdings? Check our tools section.

The post Cryptocurrencies Have Spawned an Eclectic Underground Art Movement appeared first on Bitcoin News.

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#Blockchain PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR

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trade.io Enables Purchase of Cryptocurrencies With USD and EUR

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Monday, February the 4th, 2019, Hong Kong, Crypto exchange trade.io has announced a partnership with payment processor Simplex, enabling clients to purchase a range of popular cryptocurrencies by credit or debit card.

Initially, the solution will support the purchase of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), & Bitcoin Cash (BCH) with USD or EUR. Management of trade.io have also confirmed that more coins and currencies will be added for purchase at a later stage.

This partnership with Simplex, a leading EU-licensed payment services provider, provides a regulated and secure framework through which trade.io’s client base can easily and conveniently invest or trade in cryptocurrencies.

With this move, trade.io demonstrably provides its support to investors of traditional financial instruments who wish to access the cryptocurrency industry – an industry notorious for its high barriers of entry and complicated onboarding processes.

William Heyn, CEO of trade.io commented: “It’s no secret that newcomers to the crypto world are hindered by complicated onboarding processes. Through this partnership, we aim to simplify unnecessarily difficult transactions, thereby throwing open the doors to crypto newbies whilst providing added value to our existing client base.”

This introduction of fiat purchases, drastically minimizes any obstacles presented to current and potential clients on the trade.io exchange, making the company a one-stop-shop for purchasing and trading crypto.

“Since foundation, Simplex has worked with leading exchanges to make mainstream entry to the crypto world simpler. Our fraud-free payment processing solution provides crypto merchants with a risk-free way to accept credit and debit cards, making the payment process seamless and familiar for mainstream” said Nimrod Lehavi, CEO and Co-Founder of Simplex, adding that “doing so will make it easier for mainstream users to enter the crypto world, growing the industry and transforming the financial space.”

About trade.io
trade.io is a next-generation financial institution based on blockchain technology, comprised
of its Exchange, Consulting Services, Incubator and Liquidity Pool which allows holders of its
utility token “TIOx” the ability to participate in the growth of the company. By leveraging
decades of experience in the investment banking, trading, fintech and compliance and
combining them with the power and transparency of the distributed ledger, trade.io has
created a truly unique platform built to grow and adapt as the blockchain industry continues
to mature.

About Simplex:

Simplex is a FinTech company providing guaranteed fraudless payment processing solutions. Simplex processes credit card payments with a 100% zero fraud guarantee – in case of a chargeback, the merchant gets paid by Simplex. The cutting-edge Simplex fraud prevention solution and proprietary state-of-the-art AI technology stops fraudulent transactions and allows more legitimate ones to complete payments with ease and speed while increasing conversion rates and enabling merchants to focus on their business growth.

Simplex’s HQ is located in Israel, with subsidiaries in the UK, US, and Lithuania. Simplex was founded in 2014, and today works with some of the largest crypto exchanges, wallets, and platforms.

Contact Email Address
support@trade.io

Supporting Link
https://trade.io/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR appeared first on Bitcoin News.

from Bitcoin News http://bit.ly/2UDXQXF PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR

#Blockchain PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR

Posted on by

trade.io Enables Purchase of Cryptocurrencies With USD and EUR

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Monday, February the 4th, 2019, Hong Kong, Crypto exchange trade.io has announced a partnership with payment processor Simplex, enabling clients to purchase a range of popular cryptocurrencies by credit or debit card.

Initially, the solution will support the purchase of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), & Bitcoin Cash (BCH) with USD or EUR. Management of trade.io have also confirmed that more coins and currencies will be added for purchase at a later stage.

This partnership with Simplex, a leading EU-licensed payment services provider, provides a regulated and secure framework through which trade.io’s client base can easily and conveniently invest or trade in cryptocurrencies.

With this move, trade.io demonstrably provides its support to investors of traditional financial instruments who wish to access the cryptocurrency industry – an industry notorious for its high barriers of entry and complicated onboarding processes.

William Heyn, CEO of trade.io commented: “It’s no secret that newcomers to the crypto world are hindered by complicated onboarding processes. Through this partnership, we aim to simplify unnecessarily difficult transactions, thereby throwing open the doors to crypto newbies whilst providing added value to our existing client base.”

This introduction of fiat purchases, drastically minimizes any obstacles presented to current and potential clients on the trade.io exchange, making the company a one-stop-shop for purchasing and trading crypto.

“Since foundation, Simplex has worked with leading exchanges to make mainstream entry to the crypto world simpler. Our fraud-free payment processing solution provides crypto merchants with a risk-free way to accept credit and debit cards, making the payment process seamless and familiar for mainstream” said Nimrod Lehavi, CEO and Co-Founder of Simplex, adding that “doing so will make it easier for mainstream users to enter the crypto world, growing the industry and transforming the financial space.”

About trade.io
trade.io is a next-generation financial institution based on blockchain technology, comprised
of its Exchange, Consulting Services, Incubator and Liquidity Pool which allows holders of its
utility token “TIOx” the ability to participate in the growth of the company. By leveraging
decades of experience in the investment banking, trading, fintech and compliance and
combining them with the power and transparency of the distributed ledger, trade.io has
created a truly unique platform built to grow and adapt as the blockchain industry continues
to mature.

About Simplex:

Simplex is a FinTech company providing guaranteed fraudless payment processing solutions. Simplex processes credit card payments with a 100% zero fraud guarantee – in case of a chargeback, the merchant gets paid by Simplex. The cutting-edge Simplex fraud prevention solution and proprietary state-of-the-art AI technology stops fraudulent transactions and allows more legitimate ones to complete payments with ease and speed while increasing conversion rates and enabling merchants to focus on their business growth.

Simplex’s HQ is located in Israel, with subsidiaries in the UK, US, and Lithuania. Simplex was founded in 2014, and today works with some of the largest crypto exchanges, wallets, and platforms.

Contact Email Address
support@trade.io

Supporting Link
https://trade.io/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR appeared first on Bitcoin News.

from Bitcoin News http://bit.ly/2UDXQXF PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR

#Blockchain PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR

Posted on by

trade.io Enables Purchase of Cryptocurrencies With USD and EUR

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Monday, February the 4th, 2019, Hong Kong, Crypto exchange trade.io has announced a partnership with payment processor Simplex, enabling clients to purchase a range of popular cryptocurrencies by credit or debit card.

Initially, the solution will support the purchase of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), & Bitcoin Cash (BCH) with USD or EUR. Management of trade.io have also confirmed that more coins and currencies will be added for purchase at a later stage.

This partnership with Simplex, a leading EU-licensed payment services provider, provides a regulated and secure framework through which trade.io’s client base can easily and conveniently invest or trade in cryptocurrencies.

With this move, trade.io demonstrably provides its support to investors of traditional financial instruments who wish to access the cryptocurrency industry – an industry notorious for its high barriers of entry and complicated onboarding processes.

William Heyn, CEO of trade.io commented: “It’s no secret that newcomers to the crypto world are hindered by complicated onboarding processes. Through this partnership, we aim to simplify unnecessarily difficult transactions, thereby throwing open the doors to crypto newbies whilst providing added value to our existing client base.”

This introduction of fiat purchases, drastically minimizes any obstacles presented to current and potential clients on the trade.io exchange, making the company a one-stop-shop for purchasing and trading crypto.

“Since foundation, Simplex has worked with leading exchanges to make mainstream entry to the crypto world simpler. Our fraud-free payment processing solution provides crypto merchants with a risk-free way to accept credit and debit cards, making the payment process seamless and familiar for mainstream” said Nimrod Lehavi, CEO and Co-Founder of Simplex, adding that “doing so will make it easier for mainstream users to enter the crypto world, growing the industry and transforming the financial space.”

About trade.io
trade.io is a next-generation financial institution based on blockchain technology, comprised
of its Exchange, Consulting Services, Incubator and Liquidity Pool which allows holders of its
utility token “TIOx” the ability to participate in the growth of the company. By leveraging
decades of experience in the investment banking, trading, fintech and compliance and
combining them with the power and transparency of the distributed ledger, trade.io has
created a truly unique platform built to grow and adapt as the blockchain industry continues
to mature.

About Simplex:

Simplex is a FinTech company providing guaranteed fraudless payment processing solutions. Simplex processes credit card payments with a 100% zero fraud guarantee – in case of a chargeback, the merchant gets paid by Simplex. The cutting-edge Simplex fraud prevention solution and proprietary state-of-the-art AI technology stops fraudulent transactions and allows more legitimate ones to complete payments with ease and speed while increasing conversion rates and enabling merchants to focus on their business growth.

Simplex’s HQ is located in Israel, with subsidiaries in the UK, US, and Lithuania. Simplex was founded in 2014, and today works with some of the largest crypto exchanges, wallets, and platforms.

Contact Email Address
support@trade.io

Supporting Link
https://trade.io/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR appeared first on Bitcoin News.

from Bitcoin News http://bit.ly/2UDXQXF PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR

#Blockchain PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR

Posted on by

trade.io Enables Purchase of Cryptocurrencies With USD and EUR

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Monday, February the 4th, 2019, Hong Kong, Crypto exchange trade.io has announced a partnership with payment processor Simplex, enabling clients to purchase a range of popular cryptocurrencies by credit or debit card.

Initially, the solution will support the purchase of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), & Bitcoin Cash (BCH) with USD or EUR. Management of trade.io have also confirmed that more coins and currencies will be added for purchase at a later stage.

This partnership with Simplex, a leading EU-licensed payment services provider, provides a regulated and secure framework through which trade.io’s client base can easily and conveniently invest or trade in cryptocurrencies.

With this move, trade.io demonstrably provides its support to investors of traditional financial instruments who wish to access the cryptocurrency industry – an industry notorious for its high barriers of entry and complicated onboarding processes.

William Heyn, CEO of trade.io commented: “It’s no secret that newcomers to the crypto world are hindered by complicated onboarding processes. Through this partnership, we aim to simplify unnecessarily difficult transactions, thereby throwing open the doors to crypto newbies whilst providing added value to our existing client base.”

This introduction of fiat purchases, drastically minimizes any obstacles presented to current and potential clients on the trade.io exchange, making the company a one-stop-shop for purchasing and trading crypto.

“Since foundation, Simplex has worked with leading exchanges to make mainstream entry to the crypto world simpler. Our fraud-free payment processing solution provides crypto merchants with a risk-free way to accept credit and debit cards, making the payment process seamless and familiar for mainstream” said Nimrod Lehavi, CEO and Co-Founder of Simplex, adding that “doing so will make it easier for mainstream users to enter the crypto world, growing the industry and transforming the financial space.”

About trade.io
trade.io is a next-generation financial institution based on blockchain technology, comprised
of its Exchange, Consulting Services, Incubator and Liquidity Pool which allows holders of its
utility token “TIOx” the ability to participate in the growth of the company. By leveraging
decades of experience in the investment banking, trading, fintech and compliance and
combining them with the power and transparency of the distributed ledger, trade.io has
created a truly unique platform built to grow and adapt as the blockchain industry continues
to mature.

About Simplex:

Simplex is a FinTech company providing guaranteed fraudless payment processing solutions. Simplex processes credit card payments with a 100% zero fraud guarantee – in case of a chargeback, the merchant gets paid by Simplex. The cutting-edge Simplex fraud prevention solution and proprietary state-of-the-art AI technology stops fraudulent transactions and allows more legitimate ones to complete payments with ease and speed while increasing conversion rates and enabling merchants to focus on their business growth.

Simplex’s HQ is located in Israel, with subsidiaries in the UK, US, and Lithuania. Simplex was founded in 2014, and today works with some of the largest crypto exchanges, wallets, and platforms.

Contact Email Address
support@trade.io

Supporting Link
https://trade.io/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR appeared first on Bitcoin News.

from Bitcoin News http://bit.ly/2UDXQXF PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR

#Blockchain PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR

Posted on by

trade.io Enables Purchase of Cryptocurrencies With USD and EUR

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Monday, February the 4th, 2019, Hong Kong, Crypto exchange trade.io has announced a partnership with payment processor Simplex, enabling clients to purchase a range of popular cryptocurrencies by credit or debit card.

Initially, the solution will support the purchase of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), & Bitcoin Cash (BCH) with USD or EUR. Management of trade.io have also confirmed that more coins and currencies will be added for purchase at a later stage.

This partnership with Simplex, a leading EU-licensed payment services provider, provides a regulated and secure framework through which trade.io’s client base can easily and conveniently invest or trade in cryptocurrencies.

With this move, trade.io demonstrably provides its support to investors of traditional financial instruments who wish to access the cryptocurrency industry – an industry notorious for its high barriers of entry and complicated onboarding processes.

William Heyn, CEO of trade.io commented: “It’s no secret that newcomers to the crypto world are hindered by complicated onboarding processes. Through this partnership, we aim to simplify unnecessarily difficult transactions, thereby throwing open the doors to crypto newbies whilst providing added value to our existing client base.”

This introduction of fiat purchases, drastically minimizes any obstacles presented to current and potential clients on the trade.io exchange, making the company a one-stop-shop for purchasing and trading crypto.

“Since foundation, Simplex has worked with leading exchanges to make mainstream entry to the crypto world simpler. Our fraud-free payment processing solution provides crypto merchants with a risk-free way to accept credit and debit cards, making the payment process seamless and familiar for mainstream” said Nimrod Lehavi, CEO and Co-Founder of Simplex, adding that “doing so will make it easier for mainstream users to enter the crypto world, growing the industry and transforming the financial space.”

About trade.io
trade.io is a next-generation financial institution based on blockchain technology, comprised
of its Exchange, Consulting Services, Incubator and Liquidity Pool which allows holders of its
utility token “TIOx” the ability to participate in the growth of the company. By leveraging
decades of experience in the investment banking, trading, fintech and compliance and
combining them with the power and transparency of the distributed ledger, trade.io has
created a truly unique platform built to grow and adapt as the blockchain industry continues
to mature.

About Simplex:

Simplex is a FinTech company providing guaranteed fraudless payment processing solutions. Simplex processes credit card payments with a 100% zero fraud guarantee – in case of a chargeback, the merchant gets paid by Simplex. The cutting-edge Simplex fraud prevention solution and proprietary state-of-the-art AI technology stops fraudulent transactions and allows more legitimate ones to complete payments with ease and speed while increasing conversion rates and enabling merchants to focus on their business growth.

Simplex’s HQ is located in Israel, with subsidiaries in the UK, US, and Lithuania. Simplex was founded in 2014, and today works with some of the largest crypto exchanges, wallets, and platforms.

Contact Email Address
support@trade.io

Supporting Link
https://trade.io/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR appeared first on Bitcoin News.

from Bitcoin News http://bit.ly/2UDXQXF PR: trade.io Enables Purchase of Cryptocurrencies With USD and EUR

#Blockchain Mt. Gox Restitution Process Frozen Due to One Man’s $16B Claim

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On Jan. 31, Mt. Gox victims were enraged to hear that the founder of Coinlab, Peter Vessenes, is still causing problems for the former exchange’s rehabilitation process. According to information published by public attorney Daniel Kelman, Coinlab filed a claim for ¥1.7 trillion yen (US$16 billion) which is over and above every claimant’s filing.

Also read: Markets Update: Traders Patiently Wait for Crypto’s Longest Bear Run to End

Coinlab’s Mt. Gox Claim Stands at Over $16 Billion

The infamous Mt. Gox breach was one of the biggest cryptocurrency exchange hacks of all time. Over the last four years, the trading platform’s customers who lost money have been trying to get restitution from the 200,000 BTC found later after the initial breach. There have been many bankruptcy proceedings and dealings with the court trustee in Tokyo. The case has also transformed into a civil rehabilitation process. Throughout this period, there’s been one stick in the mud that’s made the Mt. Gox restitution take much longer than it ought – Coinlab.

The company could now further extend and entirely disrupt the process of distribution to Mt. Gox creditors. Coinlab is a firm operated by the former Bitcoin Foundation Chair Peter Vessenes. Public documents from Tokyo given to our newsdesk indicate that Coinlab is claiming ¥1.7 trillion yen (US$16 billion at press time) in damages from Mt. Gox. The Coinlab claim eclipses all other creditors by a long shot and if it is successful then the other claimants could be left with nothing.

Mt. Gox Restitution Process Frozen Due to One Man's $16B Claim
Documents from the Mt Gox claim filed in Tokyo. Coinlab wants $16 billion for “Breach of license agreement.”

In 2012, Coinlab made a deal with Mark Karpeles which supposedly gave the company the rights to both U.S. and Canadian Mt. Gox customers. Coinlab couldn’t get licensure to operate in those countries, however, and these parts of the bargain ultimately fell through. After things went sour, Coinlab sued Mt. Gox for breach of contract in May 2013 for the sum of $75 million. According to multiple sources who have been relentlessly following the case in Japan, including former Mt. Gox CEO Mark Karpeles, Coinlab’s lawsuit has made it worse for every creditor involved. Back in May of 2017, Karpeles wrote an open letter to Peter Vessenes and Coinlab in the hope of convincing him to settle the case for $5 million.

“This lawsuit today is not Coinlab vs. Mt. Gox, but CoinLab vs. the Mt. Gox customers, now creditors, who have done nothing to deserve being involved in this,” explained Karpeles at the time.

Mt. Gox Restitution Process Frozen Due to One Man's $16B Claim
Peter Vessenes CEO of Coinlab.

Unknown Shareholders and Frozen Restitution Process for Mt. Gox Claimants

A highlighted portion of the ¥1.6 trillion Coinlab filing explains that Vessenes is pursuing the funds for the “fiduciary” interest of Coinlab shareholders. However, according to a source familiar with the matter, letters have been sent to Vessenes asking for a full list of shareholders. This is because skeptics believe there are not many shareholders at all or that the Coinlab CEO is the one and only shareholder. A claim made in such a manner would make upholding fiduciary interest of Coinlab shareholders very difficult in the face of the many customers who have been waiting four years for a small fraction of what they once had. On Jan. 31, Kraken CEO Jesse Powell expressed his disgust at the restitution claim made by Coinlab.

“Unbelievable balls on this guy to hold up payouts to thousands of victims for years with an entirely frivolous claim over a botched partnership attempt,” Powell said to his Twitter followers. “How could you think that your $14B claim should be senior to the actual account holders’?”

The next day Powell further stated:

Why is there not more outrage over this? If this isn’t criminal, it should be. Plaintiff’s lawyers ought to be sanctioned.

One of the founding members of the B Foundation, Alena Vranova, responded to Powell’s tweet and said, “Oh wow — I see why some folks developed an allergic reaction to the word foundation — Interesting “character” this Peter.” Vessenes has also been tagged on Twitter about the huge claim, but has yet to respond. Sources familiar with the matter also told news.Bitcoin.com back in Sept. 2017 that Coinlab doesn’t want to settle and wants the case to be brought to the U.S., which could drag the claim process out for another few years. Last month, the trustee of the now-defunct Mt. Gox and its funds, Nobuaki Kobayashi, detailed the civil rehabilitation claims may be extended further.

What do you think about the Mt. Gox claim for $16 billion made by Coinlab? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock, Marvel Studios (MCU), and Pixabay.

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from Bitcoin News http://bit.ly/2MMi3b5 Mt. Gox Restitution Process Frozen Due to One Man’s $16B Claim