Day: August 11, 2017

The final day of the week is here in our bitcoin price efforts and the week has gone pretty quickly. We have managed to jump in and out of the markets on a number of occasions and – on many of these occasions – we have been able to draw a quick turnaround profit from … Continue reading Bitcoin Price Watch; Let’s Finish The Week On A High

The post Bitcoin Price Watch; Let’s Finish The Week On A High appeared first on NEWSBTC.

Investment platform BnkToTheFuture is expanding its service to let equity buyers tap into the growing market for initial coin offerings.

The total value of all cryptocurrencies has set a new all-time high, just four days after it set its previous record for market capitalization.

One of the world’s largest blockchain consortiums is kicking off its next phase of development.

Coinbase has completed a Series D funding round worth $100 mln as customer support is set for expansion at last.

Bitcoin has reached $3,500 across multiple trackers as commentators eye a stabilization or even further growth.

Many companies and projects see cryptocurrency ICOs as the new way to raise funds. Crowdfunding has become somewhat popular in the financial sector lately. An ICO, however, is largely unregulated and attracts investors from all over the world. NuMeLo Technology had a plan to host their own ICO in the future. However, the SEC has … Continue reading SEC Suspends NuMeLo Technology Shares Trading Over ICO Plans

The post SEC Suspends NuMeLo Technology Shares Trading Over ICO Plans appeared first on NEWSBTC.

Bank of America is emerging as one of the most active banks when it comes to filing patents over claimed innovations in blockchain and cryptocurrency.

A new patent filing suggests global exchange operator Nasdaq has a particular interest in protecting blockchain-based order-matching technology.

Coinbase is now officially bitcoin industry’s first billion-dollar startup. On August 11, Coinbase CEO Brian Armstrong revealed that the company secured a $100 million funding round from Spark Capital, Greylock Partners, Battery Ventures, Section 32 and Draper Associates, led by IVP.

“Coinbase experienced unprecedented growth over the last year, and we have now exchanged over $25 billion USD of digital currency for our customers. We’ll be using this new funding to continue scaling even further,” said Armstrong in a statement.

With the newly obtained capital, Armstrong and the rest of the Coinbase team intend to pursue aggressive international expansion by increasing the size of its development and customer support teams. More importantly, Armstrong noted that a new office for its trading platform GDAX will be launched in New York City to serve institutional investors and professional traders.

Almost immediately after the reimbursement of millions of dollars resulting from an Ethereum flash crash in late June, GDAX general manager Adam White announced that Coinbase decided to reimburse users despite the fact that all of its systems functioned properly throughout the flash crash in order to build GDAX into a leader amongst all global exchanges.

White then wrote:

“Our long-term ambition, however, is to be a leader among all exchange platforms and we are committed to serving as the most trusted provider to the world’s largest institutions and professional traders. We are confident that all trades this week were executed properly, however, some customers did not receive the quality of service we strive to provide and we want to do better.”

The expansion of GDAX and targeting of institutional and professional traders is a major part of Coinbase’s long-term vision and of its latest $100 million funding round.

Bitcoin’s First Billion-Dollar Company

With the closure of its $100 million Series D funding round, Coinbase is now officially the bitcoin industry’s first billion-dollar company. Previously, prior to the completion of the deal, various trusted sources including the Wall Street Journal reported that Coinbase was aiming to raise a hundred million dollar investment based on a $1 billion valuation.

However, according to TechCrunch, Coinbase raised $100 million at a $1.6 billion valuation.

“While Coinbase had previously raised a total of $106M, it’s been two and a half years since their last raise – which was their $75M Series C round in early 2015. But it seems that the wait paid off, as the recent growth allowed the startup to nearly triple their valuation to $1.6B, from a rumored $500M in 2015,” Flitz Tepper of TechCrunch wrote.

Coinbase’s Poor Customer Support, Company Plans Improvement

Coinbase’s poor customer service has always been the center of criticisms for the company. Over the past few years, investors and traders on Coinbase have consistently expressed their concerns over Coinbase’s inefficient customer service, specifically towards the fact that the company does not provide 24/7 service through a live communications platform or phone line, unlike other exchanges.

Bithumb for instance, South Korea’s largest bitcoin exchange, offers a 24/7 phone line and live chat with a large-scale team of communications directors and customer service agents.

Bithumb, which processes more trades than Coinbase, has 24/7 customer support via phone & live chat. Importance of customer support #bitcoin pic.twitter.com/IlFkt7srQf

— Joseph Young (@iamjosephyoung) July 7, 2017

With the newly acquired capital, Coinbase aims to drastically improve its customer service and promises to offer efficient services to its consumers, particularly to institutional and professional traders.

“Specifically, we will: Increase the size of our engineering and customer support teams to improve the customer experience,” said Armstrong.