In the world of bitcoin-variant cryptocurrencies, few experiments have gained as much attention as Auroracoin. The Icelandic alt-coin was designed to offer a viable alternative to the nation’s long-troubled domestic currency, the krona, which has massively devalued in recent years. One key part of the plan to launch Auroracoin is the so-called “airdrop” of half…
Bloomberg reports that the Tera Group Inc. is seeking approval of a legal framework to allow bitcoin swaps. The derivative device would allow investors to trade payments based on the performance of bitcoin versus that of an established fiat currency. The terms for a multimillion dollar swap between two U.S. institutions is planned to hedge…
Last year, Cameron and Tyler Winklevoss announced their plans to launch the world’s first publicly traded Bitcoin exchange-traded fund. Unfortunately, the Winklevoss Bitcoin Trust has been mired in the complexities of Securities and Exchange Commission regulation, leaving the field open for competition. If Barry Silbert’s SecondMarket has their way, the Winklevii will be stuck in…
Thanks to a new withdrawal system recently announced by BTC-e, one of the biggest roadblocks to mainstream bitcoin adoption may soon be a thing of the past. Starting today, BTC-e customers can withdraw their funds to any country in the world through their Visa or MasterCard. This development has huge implications for the bitcoin community….
This week, Coinbase announced the addition of two new staffers, both with impressive tech pedigrees. Former Facebook security director Ryan McGeehan will move to a security role at the bitcoin startup, while former Amazon business development and sales director Todd Edebohls joins the company as a VP of business development. From a business perspective, both…
As the Chairman and CIO of Legg Mason Capital Management, Bill Miller is used to thinking big. His company manages an estimated $695 billion in assets, making it one of the top 20 investment management groups in the world. Miller is very much an insider in the world of high finance, and the kind of…
Atlanta-based bitcoin payment processing company BitPay announced today that it will expand operations with new offices in New York and San Francisco. The company’s physical expansion into new markets has long been expected, and both cities are logical choices for new offices. San Francisco is a huge tech hub and home to many venture capital…
If a recent post by often-controversial bitcoin personality Mircea Popescu is to be believed, the U.S. Securities and Exchange Commission has focused their gaze on well-known bitcoin gambling site SatoshiDice. Popescu posted a series of emails he exchanged with SEC senior attorney Daphna Waxman, who was requesting information about the listing of shares of SatoshiDice…
Investment firm Fortress Investment Group (FIG) was one of the first Wall Street companies to take bitcoin seriously, setting aside at least $20 million in funding for bitcoin-related investments in 2013. While FIG has also reported a loss of $3.7 million from their bitcoin business since that time, that doesn’t seem to be diminishing their…
Speaking at the Bloomberg Breakfast event today, US Department of the Treasury Under Secretary for Terrorism and Financial Intelligence David S Cohen answered many questions about the evolution of policies and law enforcement tactics related to virtual currencies. Cohen focused largely on efforts to combat illicit uses of cryptocurrency, but also hinted that long term…