Mt Gox Settlement and $593 Million of BTC and BCH, Will Bitcoin Rally?

Bitcoin prices steady after yesterday’s sell-off Mt Gox trustee approved 802,521 BTC as claims Volumes stable but below average Wholesale liquidation of Bitcoin and Bitcoin Cash stash in the hands of Nobuaki could heap pressure on responsible exchanges. Besides, it will also cause unnecessary price fluctuation that may work against victims triggering a sell-off towards Dec 2018 lows. Bitcoin Price Analysis Fundamentals All eyes are on Nobuaki Kobayashi and how he plans to compensate victims of the now defunct Mt Gox following his approval of “802,521 BTC, 792,296 BCH and…

Prediction Startup Numerai Raises $11 Million in ICO

American prediction market startup and hedge fund Numerai (NMR) has raised $11 million in an initial coin offering (ICO) to launch its project Erasure, Numerai tweeted on March 21. Introduced in late 2016, Numeraire network provides a blockchain and cryptographic token-based ecosystem for incentivizing anonymous data scientists to create predictive models. Based on the Ethereum (ETH) blockchain, Numeraire tokens are used in trading market predictions on the startup’s platform. Numerai founder Richard Craib said that the funds from the recent ICO will be mostly spent on hiring engineers for Erasure,…

$25 Million in 2 Weeks: BlockFi Booms as Bitcoin, Ether Investors Seek Interest

The Takeaway BlockFi’s interest-yielding deposit accounts, launched in beta in January and fully live this month, have attracted more than $35 million in crypto. Most of it is being lent to institutional borrowers. BlockFi’s terms of service give the company significant leeway over how it uses depositors’ funds and what interest rate it can pay them. This flexibility is needed for the company to grow fast, CEO Zac Prince says. Institutional investors borrow crypto at individualized terms, at interest rates from 4 to 12 percent, and BlockFi can call in…

Crypto Finance Startup Circle Seeking Further $250 Million in Funding: Report

Crypto finance startup Circle Internet Financial is reportedly looking to raise a further $250 million in funding. A report from The Information on Saturday, citing a source with knowledge of the matter, said that Circle is seeking to raise the funding via a combination of equity and debt financing. They added that the reason for the move is that the firm’s business has been affected by the prolonged cryptocurrency bear market. Circle has not confirmed the source’s claim, The Information said. The Goldman Sachs-backed firm has previously raised at least $246 million, according…

Bittrex Leads $1.5 Million Round for South African Crypto Exchange VALR

Global crypto exchange Bittrex led a $1.5 million seed round in South African trading platform VALR. Bittrex CEO Bill Shihara told CoinDesk the South African market has “tremendous untapped potential.” Fellow VALR investor Michael Jordaan of Montegray Capital told CoinDesk that VALR’s support for 50 cryptocurrencies will offer the most diverse range of assets of any African exchange when it opens to the public on March 1. “The VALR team has the potential to change the cryptocurrency landscape in South Africa and globally,” Jordaan said. VALR co-founder and CEO Farzam Ehsani…

UK Bitcoin Trading Volume Hits $65 Million Average

The last three months in the United Kingdom’s bitcoin market has been no less than amazing, indicated Skew. The London-based data analytics portal revealed that the region developed a strong bitcoin trading traffic in the last 120 days. It shared a graph across its social media channels, reflecting upon the growing presence of traders in the UK’s crypto climate. Per the chart, traders on BitMex were contributing approximately $65 million worth of XBT/USD trading volume every day over the past three months. The trading rate was higher between 1000 GMT…

Morgan Creek Joins $65 Million Series B for Blockchain Home Equity Loan Firm

Blockchain-based home equity loan startup Figure Technologies has raised $65 million in a Series B round backed by Morgan Creek. Announcing the news on Wednesday, Figure said the round was led by venture capital firms RPM Ventures and partners at DST Global, with Ribbit Capital, DCM Ventures, Digital Currency Group, Nimble Ventures and others also participating. The Series B investment brings the firm’s total equity funding to over $120 million, the firm said, adding that the new investment will go toward helping the firm strengthen its product offerings. Founded last…

Square Brought in Over $166 Million Through Bitcoin Sales Last Year

Mobile payments firm Square has reported over $166 million in revenue from bitcoin sales last year. The company filed its financial results for Q4 2018 with the U.S. Securities and Exchange Commission (SEC) on Wednesday, disclosing that it made overall net revenue of $3.3 billion last year, 5 percent of which came from the cryptocurrency buying service within its Cash App. While bitcoin sales brought in precisely $166,517,000, the cost of purchasing the cryptocurrency for the year was about $165 million. That left the firm with a net profit from bitcoin sales…

Eos to Be Used by 300 Million Users on Tapatalk, Real Mainstream Use Case

Those questioning the blockchain projects for their underlying utility should look at EOS. The smart contracts platform recently paved its way into the working model of Tapatalk, a Reddit-like forum application. Per an announcement published February 21, Tapatalk will utilize the EOS blockchain to power its Gold Point reward system. The integration would allow Tapatalk to incentivize its users via EOS’ on-chain asset of the same name. The move could assist Tapatalk increase participation among its 300 million users while furthering the adoption of EOS among them. Winter Wong, the…