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| March 19, 2019

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New York co-living company plans $100 million expansion with Los Angeles apartment developer

March 9, 2019 |

Co-living is one the newest trends in urban housing, and it has prompted a New York operator to join with a Los Angeles developer to create $ 100 million worth of shared, furnished apartments to help meet a projected deep demand in Southern California.

Residents in a co-living complex typically…


L.A. Times – Business

Startup Company Sets up Bitcoin ATM in Botswana

March 4, 2019 |

Company Sets up Bitcoin ATM in Botswana

Express Minds Ltd has set up a bitcoin automated teller machine (BATM) in Gaborone, Botswana, increasing the number of the machines on the continent to 10. The fiat-to-crypto machine allows users to purchase bitcoin by scanning a QR code for their wallet address, feed money into the machine and get the crypto equivalent automatically assigned to their wallets.

Also read: Quadriga’s 6 Cold Wallets Have Been Without Funds Since April 2018

ATM to Improve Cryptocurrency Uptake

The local tech company expects its machine, located at a large mall in the city-center, to incentivize the uptake of cryptocurrency. The supposed complexity of virtual currency trade has been discouraging for some prospective consumers. Transacting without human mediation may also be attractive to customers considering that some exchanges have picked up dubious reputations while individual partners cannot always be trusted to be in good faith.

Startup Company Sets up Bitcoin ATM in Botswana

Goabaone Brose Watlala, a director with Express Minds, said the BATM, which can only handle a daily transaction limit of BWP50,000 (~$ 5,000) at the moment, processes user information intuitively. “We have been working tirelessly to make it easier for Batswana [people of Botswana] to buy cryptocurrencies and now we are bringing simplicity, convenience and trust to the cryptocurrency purchasing experience,” Watlala told news.Bitcoin.com.

“This one way machine is still the easiest, fastest and safest way to buy bitcoin,” he added. There is no known cryptocurrency exchange in the diamond-rich southern African nation. Until now, the only way for Batswana to buy crypto was through exchanges located outside the country. At some point consumers were crossing the border, mainly to South Africa, to buy bitcoin.

Regulatory Risk

It is not clear for how long the newly deployed machine will be in place as Botswana has no specific regulation on cryptocurrency or the operation of a BATM. Zimbabwe’s Golix-operated machine went out of use when government banned virtual currencies last year.

Express Minds is taking advantage of its physical space to spread the word on cryptocurrency, as virtual money is not exactly the most popular technological phenomenon in Botswana at the moment. Company staffers are offering interested individuals one-on-one instructions on how the technology works.

Startup Company Sets up Bitcoin ATM in Botswana

Although the Botswana startup is optimistic about improved crypto adoption, the story of BATMs in Africa is not the most encouraging one. South Africa is leading the pack with five of the nine bitcoin teller machines already found across Africa, with Uganda, Djibouti, Kenya and Zimbabwe completing the tally. Africa is not big on these machines, with populous, crypto-intensive Nigeria surprisingly without one such machine.

There are diverging views regarding the slow penetration of BATMs in Africa, with hegemonic exchanges saying that such machines lack the human interface that customers are used to, while those behind machines say that the absence of mediation is more attractive.

At $ 12,000, bitcoin ATMs are cost-prohibitive on the side of exchange operators in Africa, while transaction fees ranging from eight to 14 percent discourage users. Kenya’s Kenraill Towers BATM, which uses rates from three exchange websites, has been losing customers. Botswana’s relative lack of options may be an advantage to Express Minds in the short term.

What do you think about the growth of the bitcoin ATM market in Africa? Let us know in the comments section below.


Images courtesy of Shutterstock and Express Minds.


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The post Startup Company Sets up Bitcoin ATM in Botswana appeared first on Bitcoin News.

Bitcoin News

Lyft’s IPO Filing Offers Look at Size, Scope of Ride-Hailing Company

March 3, 2019 |

Lyft made its IPO documentation public, a move that fires the starting gun on what’s expected to be one of the biggest years for tech IPOs ever.
WSJ.com: What’s News Asia

Lyft’s IPO Filing Offers Look at Size, Scope of Ride-Hailing Company

March 2, 2019 |

Lyft made its IPO documentation public, a move that fires the starting gun on what’s expected to be one of the biggest years for tech IPOs ever.
WSJ.com: US Business

CNN

Martha Stewart to advise cannabis company

March 2, 2019 |

Hemp and CBD: It’s a good thing. Just ask Martha Stewart.
CNN.com – RSS Channel – World

GE stock jumps as $21.4-billion biopharma sale helps new CEO revamp the company

February 26, 2019 |

When H. Lawrence Culp Jr. took command of flailing General Electric Co. late last year, his mandate was simple: Be more aggressive.

Less than five months later, investors are applauding.

The company’s shares climbed Monday as Culp took his boldest step yet to rescue the troubled behemoth, agreeing…


L.A. Times – Business

US tech company says it will no longer sell equipment to China to expand Uighur DNA tracking capability

February 22, 2019 |

Massachusetts-based biotech company, Thermo Fisher, declared this week that it would no longer allow China to purchase its equipment – which is believed to have been used to help the ruling Communist Party create a DNA database of the country’s Uighur minority.
FOX News

Company Evades SEC Penalty Despite Illegally Issuing Security Tokens

February 22, 2019 |

Company Evades SEC Penalty Despite Illegally Issuing Security Tokens

The U.S. Securities and Exchange Commission (SEC) has decided not to impose a penalty on a company that had issued security tokens without its approval and without qualifying for an exemption. The company raised approximately $ 12.7 million.

Also read: SEC Chair Explains Key Upgrades Needed for Bitcoin ETF Approval

No Penalty

The SEC announced on Wednesday that it did not impose a penalty on Gladius Network Llc even though the company has been charged with conducting an unregistered initial coin offering (ICO). The agency wrote in its order:

The Commission is not imposing a penalty because of the significant steps Gladius took to remediate the violation.

Company Evades SEC Penalty Despite Illegally Issuing Security Tokens

The order details that Gladius conducted the ICO in late 2017 after the SEC warned about security token offerings in its DAO report. The Washington D.C.-based company raised approximately $ 12.7 million worth of ether “to finance its plan to develop a network for renting spare computer bandwidth to defend against cyberattacks and enhance delivery speed,” the agency explained. The ICO was neither registered with the SEC nor qualified for an exemption.

Self-Reporting

Gladius, a Nevada Llc, “self-reported to the SEC’s enforcement staff in the summer of 2018, expressed an interest in taking prompt remedial steps, and cooperated with the investigation,” the SEC detailed.

Noting that the Commission “has been clear that companies must comply with the securities laws when issuing digital tokens that are securities,” Robert A. Cohen, Chief of the SEC’s Cyber Unit emphasized that “Today’s case shows the benefit of self-reporting and taking proactive steps to remediate unregistered offerings.”

Company Evades SEC Penalty Despite Illegally Issuing Security Tokens

According to the SEC, Gladius has agreed to return funds “to those investors who purchased tokens in the ICO and request a return of funds, and register its tokens as securities pursuant to the Securities Exchange Act of 1934.” The company will also file a periodic report with the SEC. “Gladius consented to the order without admitting or denying the findings,” the SEC wrote.

In contrast, the SEC imposed penalties on two companies in November last year for similar registration violations. Carriereq Inc. (Airfox) and Paragon Coin Inc. were ordered to pay $ 250,000 civil money penalty each to the SEC for transfer to the general fund of the United States Treasury.

A ‘Terrible Example’

After the SEC’s announcement, Gabor Gurbacs, Director of Digital Assets Strategy at Vaneck and its subsidiary MVIS, commented:

This is actually a terrible example. The guy did an unregistered offering. Self-reported it. No penalties. Miraculously got away with it. No-one knows why … It’d be much more useful from regulators to establish a safe-harbor for tokens with specific parameters.

Vaneck has a proposed rule change filed with the SEC for the Vaneck Solidx bitcoin exchange-traded fund (ETF) which will be listed and traded on the Cboe BZX Exchange. It was filed on Jan. 30 and published in the Federal Register on Feb. 13.

Do you think the SEC should have imposed a penalty on this company? Let us know in the comments section below.


Images courtesy of Shutterstock.


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The post Company Evades SEC Penalty Despite Illegally Issuing Security Tokens appeared first on Bitcoin News.

Bitcoin News

Coinbase Acquires Cryptocurrency Surveillance Company Neutrino

February 19, 2019 |

Coinbase Acquires Cryptocurrency Surveillance Company Neutrino

Coinbase has acquired the cryptocurrency surveillance company Neutrino, whose team will be joining the American exchange’s European operation. The Milan, Italy-based startup develops blockchain intelligence platforms for crypto companies as well as law enforcement agencies.

Also Read: Survey: ‘Blockchain’ Was Most Overrated Buzzword of 2018

Coinbase Acquires Neutrino

Coinbase, the San Francisco-based cryptocurrency exchange, announced on Feb. 19 that it has acquired Neutrino, which it described as a blockchain intelligence platform. The team of blockchain engineering and security experts will join the exchange’s workforce, and Neutrino will continue to operate as a standalone business based out of Coinbase’s London office.

Coinbase Acquires Cryptocurrency Surveillance Company Neutrino

“Blockchain intelligence is increasingly important in the crypto ecosystem, and is necessary to achieve our mission of bringing the open financial system to the world,” stated Varun Srinivasan, Engineering Director at Coinbase. “By analyzing data on public blockchains, Neutrino will help us prevent theft of funds from people’s accounts, investigate ransomware attacks, and identify bad actors. It will also help us bring more cryptocurrencies and features to more people while helping ensure compliance with local laws and regulations. Neutrino’s technology is the best we’ve encountered in this space, and it will play an important role in legitimizing crypto, making it safer and more accessible for people all over the world.”

Intelligence Platform for Law Enforcement Agencies

Neutrino was founded in 2016 by a team of cyber security specialists with over 30 years of experience in the field of technology exploitation and intelligence gathering. The company offers a platform specifically developed for companies operating in the cryptocurrency ecosystem. It promises to enhance AML/KYC checks and procedures by setting up customized “red flags” that involve checking the origin of incoming funds, verifying suspicious spending behaviors and more.

Coinbase Acquires Cryptocurrency Surveillance Company Neutrino

Neutrino has also developed a platform specifically for law enforcement agencies, built for criminal investigations and intelligence gathering. It allows investigators to follow the flow of specific coins and their interaction with exchanges, mixers and other services as well as to spot people buying and selling goods on darknet markets, how much they spent, what they bought and from whom. Supported cryptocurrencies it analyzes include BTC, LTC, ETH, BCH and USDT, with more promised to be coming soon.

What do you think about this acquisition of Neutrino by Coinbase? 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 Coinbase Acquires Cryptocurrency Surveillance Company Neutrino appeared first on Bitcoin News.

Bitcoin News

Apple’s Executive Shake-Up Readies Company for Life After iPhone

February 19, 2019 |

Apple is shaking up leadership and reordering priorities across its services, artificial intelligence, hardware and retail divisions as it works to reduce the company’s reliance on iPhone sales.
WSJ.com: US Business