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| November 15, 2018

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The Daily: Coffee Company to Pay Farmers in Bitcoin, Bitfury’s Latest Investment

November 13, 2018 |

In today’s edition of The Daily, we feature an upcoming bitcoin cash token backed by physical diamonds and an American coffee company that has decided to add cryptocurrencies to its payment options. Additionally, we look at a public mining company that may get a dual listing in Canada, as well as the latest investment by Bitfury.

Also Read: GMO Internet Reports Crypto Exchange Profit Up Over 34% in Q3 2018

Rosetta Coffee Adopts Bitcoin Payments

The Daily: Coffee Company to Pay Farmers in Bitcoin, Bitfury’s Latest InvestmentRosetta Coffee, a specialty coffee company based in Lynchburg, Virginia, and Outer Banks, North Carolina, has announced that it will soon adopt cryptocurrency payment options. On the client-facing side of the business, transactions will go through Shopping Cart Elite’s e-commerce platform. With this, the online store will be able to accept BCH, BTC, BCD, DASH, ETH, LTC and XZC.

Rosetta Coffee emphasized that farmers will also directly benefit from the new process, as part of its commitment to purchasing fair-trade coffee. “Cryptocurrency allows them to receive payment directly and immediately without paying a middleman. They will be able to take home more of what they earn,” said Aaron Skeen, co-founder of Rosetta Coffee. “We think this is awesome and it aligns directly with our mission. In the coming weeks and months, we’ll be working with farmers to iron out this process and make it more accessible.”

Hello Diamonds Developing BCH Token

The Daily: Coffee Company to Pay Farmers in Bitcoin, Bitfury’s Latest InvestmentHello Diamonds, a part of the Cyprus-based Hello Group — which acquired the domain Bitcoincash.io earlier this year — is developing a new token backed up by physical diamonds. The company revealed that the “Diamcoin,” which is scheduled for launch in the first quarter of 2019, will be based on a bitcoin cash (BCH) smart contract protocol.

“The Bitcoin Cash network allows for fast and cheap transactions and this is fundamental to our reasoning,” the developers explained. “We firmly believe that the Bitcoin Cash smart contracts will be the best choice for Hello Diamonds and we aim to scale and be the world’s most used stablecoin.”

The token will use the Wormhole protocol, which creates the WHC “second layer” on top of the BCH network, a process which Hello Diamonds concluded “scales much better than Ethereum.”

Bitfarms Seeks Listing in Canada

The Daily: Coffee Company to Pay Farmers in Bitcoin, Bitfury’s Latest InvestmentTel Aviv Stock Exchange-listed cryptocurrency mining company Bitfarms has started the regulatory process to examine the potential of having its shares listed on a Canadian exchange. The Canada-headquartered company has filed a preliminary prospectus with the Ontario Securities Commission, which was made available to the public on Nov. 12. It details a potential business arrangement between Bitfarms and a newly created Canadian private company, Bitfarms Canada, for the planned move.

“We are currently evaluating a listing in Canada as we endeavor to grow Bitfarms’ visibility, improve our access to capital and streamline expenses,” commented Wes Fulford, chief executive officer of Bitfarms. “Our analysis suggests that Canada has one of the most active public markets in our emerging industry, with several blockchain infrastructure and cryptocurrency mining companies having listed and raised significant capital over the last 12 months.”

Bitfury Invests in Institutional Crypto Company

The Daily: Coffee Company to Pay Farmers in Bitcoin, Bitfury’s Latest InvestmentBitfury Group, the San Francisco-based manufacturer of bitcoin mining hardware — which recently completed an $ 80 million private placement funding round — has announced a new investment of its own. The company has acquired an undisclosed but “substantial” minority stake in Final Frontier, a specialist cryptocurrency investment firm operating out of Switzerland’s so-called “Crypto Valley” region.

This move is meant to help Bitfury to develop institutional-grade financial products and services for professional investors. “This is a groundbreaking partnership between a blockchain technology firm and an experienced team from traditional finance,” said Valery Vavilov, CEO of Bitfury. “With the blockchain space institutionalizing, we consider it an important step forward for the entire ecosystem and for our own mission to be the world’s leading full-service blockchain company.”

What do you think about today’s news tidbits? 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 The Daily: Coffee Company to Pay Farmers in Bitcoin, Bitfury’s Latest Investment appeared first on Bitcoin News.

Bitcoin News

FBI Is Investigating Florida Company Linked to Whitaker

November 10, 2018 |

The Federal Bureau of Investigation is conducting a criminal investigation of a Florida company accused of scamming millions from customers during the period that Matthew Whitaker, the acting U.S. attorney general, served as a paid advisory-board member.
WSJ.com: What’s News Asia

Chinese Company Forced Workers to Eat Roaches

November 8, 2018 |

Sales staff at a home renovation company in the Chinese city of Zunyi had a choice: Meet their sales targets, or face punishments including being forced to eat cockroaches and drink urine. Police investigated the company after reports and video surfaced of the cruel and bizarre punishments, the BBC reports….
Newser

PR: Remco Launches Pre-ICO Token Sale – Parent Company Processed $700,000,000 in the Last 24 Months

November 8, 2018 |

Remco Launches Pre-ICO Token Sale - Parent Company Processed $  700,000,00 in the Last 24 Months

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Remittancetoken.io is a tokenized money transfer platform with unparalleled speed.

The off chain version of Remco token is on a run rate of $ 20,000,000 by the end of 2018, and the solution is Jurisdiction and Money Transmission Flow Agnostic. Any money transmitter can use it.

Initial traffic will come from Remco’s corporate parent VTNGLOBAL and VTN which holds state money transmitter licenses in the USA and central Bank mobile payment operator and IMTO licenses in a country of 180 million

Remco solution is cost-effective, faster has the operational benefits of increased transparency, increased record security, and improved accuracy. COO Joel Patenaude said, “We will flip the switch and move existing transaction traffic to RemittanceTokens soon.”

Remco added three new advisors to their team a few months ago including:

Brent Segal Ph.D. Harvard (200 + patents)
Ty McCoy The Assistant Secretary of the Airforce (Retired) Investor
Moses Asom, Ph.D. (MBA Wharton, ) (Sold his Sychip company for $ 140m / several patents)

Led by CEO Peter Ojo who made it possible for subscribers to receive Western Union transfers into mobile wallet since 2013 and designed API for fund termination to 22 banks and billions of transactions monthly.

Remco ICO main sale begins December 1st

You can participate in Remco token sale at:
https://www.remittancetoken.io

Contact Email Address
peter@remittancetoken.io

Supporting Link
https://www.remittancetoken.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: Remco Launches Pre-ICO Token Sale – Parent Company Processed $ 700,000,000 in the Last 24 Months appeared first on Bitcoin News.

Bitcoin News

Texas Takes Action Against Cryptocurrency Mining Company Promising 200% Profit

November 8, 2018 |

Texas Takes Action Against Cryptocurrency Mining Company Promising 200 Percent Profit

The Texas State Securities Board has issued an emergency cease and desist order to an Australia-based cryptocurrency mining company and its affiliates. According to the order, the company represents that investments in its mining contracts are “guaranteed to 200% profit.”

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Cease and Desist Order

Texas Takes Action Against Cryptocurrency Mining Company Promising 200 Percent ProfitThe Texas State Securities Board on Tuesday issued an emergency cease and desist order to Sydney-based Aws Mining Pty. Ltd. and nine other respondents affiliated with the company. The entities named are Automated Web Services Mining (Aws Mining), Mycoindeal, Aws Elite, and West Texas Oilfield Cloud Miners Club.

Sydney-based Mycoindeal provides wallet services for investments issued by Aws Mining. Aws Elite is a multi-level marketing organization for Aws Mining based in Pennsylvania. West Texas Oilfield Cloud Miners Club, an affiliate of Aws Elite, is a Texas-based sales agent for Aws Mining.

The order states:

The investments in the cryptocurrency mining program are ‘securities’ … Respondents are engaging in fraud in connection with the offer for sale of securities … [and] are making offers containing statements that are materially misleading or otherwise likely to deceive the public.

Texas Takes Action Against Cryptocurrency Mining Company Promising 200 Percent ProfitThe board elaborated that respondents are violating the Securities Act since neither they nor their securities are registered with the state’s Securities Commissioner.

They are, therefore, ordered to cease and desist from offering for sale any security in Texas until the securities and all parties involved are properly registered or exempt from registration.

200 Percent Return Guaranteed

According to the order, Aws Mining’s website claims that the company is mining cryptocurrency through farms located in Guangzhou, China; Ingushetia, Russia; Ciudad del Este, Paraguay; Anhui, China; and Hebei, China.

Texas Takes Action Against Cryptocurrency Mining Company Promising 200 Percent ProfitThe order describes that the companies and their executives “are issuing investments in cryptocurrency mining referred to as crypto mining power contracts, and they are representing [that] the crypto mining power contracts are ‘guaranteed to 200% profit’ and that each crypto mining power contract ‘is guaranteed to 200% return on purchase price.’”

In addition, the companies are using a multi-level marketing network of sales agents to sell these mining contracts and recruit new agents on social media. The board emphasized:

They are also telling potential investors the crypto mining power contracts pay a ‘200% passive return on every investment.’

Furthermore, the order noted that “Although potential investors are led to believe they will receive a 200% return on principle invested in crypto mining power contracts,” Aws Mining “is now disclaiming the guarantee of profitability and instead representing that investors assume the risks associated with the investment.”

The board subsequently concluded that the companies and individuals named in the order “are engaging in other illegal, fraudulent, deceptive, and/or misleading practices in connection with the offer of crypto mining power contracts to Texas residents.”

What do you think of Texas taking action against Aws Mining? Let us know in the comments section below.


Images courtesy of Shutterstock and Texas State Securities Board.


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

The post Texas Takes Action Against Cryptocurrency Mining Company Promising 200% Profit appeared first on Bitcoin News.

Bitcoin News

Under Armour’s #MeToo Moment: No More Strip Clubs on Company Dime

November 6, 2018 |

Under Armour employees received an email earlier this year that upended a longstanding company practice: They could no longer charge visits to strip clubs on their corporate cards. Strip-club visits were symptomatic of practices women at Under Armour found demeaning, current and former employees say.
WSJ.com: US Business

Feds Award Company $145M Border Wall Contract

November 6, 2018 |

A Texas company has become the recipient of a US-Mexico border wall contract as federal authorities fulfill President Trump’s first and most contentious campaign promise. Per CBS News , US Customs and Border Patrol said Friday that the $ 145 million contract was awarded to Galveston-headquartered construction company SLSCO. The wall will…
Newser

Apple Shares Stumble, but Company Keeps Trillion-Dollar Valuation

November 4, 2018 |

Apple shares stumbled as investors fretted over the iPhone maker’s financial outlook for the important holiday quarter and the company’s decision to stop reporting device unit sales.
WSJ.com: US Business

Bitstamp Confirms Acquisition by South Korean Company

October 30, 2018 |

Bitstamp has confirmed that it has been acquired by a European subsidiary of a South Korean corporation. Nejc Kodrič will remain the CEO of the exchange. The Korean group also owns gaming giant Nexon and Korbit, the country’s fourth largest crypto exchange.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Bitstamp Acquired

Bitstamp Confirms Acquisition by South Korean CompanyThe oldest remaining and largest cryptocurrency exchange in Europe, Bitstamp, announced on Monday that it has been acquired by Belgium-based investment company NXMH, a subsidiary of South Korea-based NXC Corp.

In a blog post, Bitstamp CEO Nejc Kodrič wrote:

Bitstamp has been regularly approached by suitors for quite some time. The reason why we finally decided to sell the company is a combination of the quality of the buyer, the quality of the offer and the fact that the industry is at a point where consolidation makes sense.

Bitstamp Confirms Acquisition by South Korean Company
Bitstamp CEO Nejc Kodrič.

He told Reuters, “The sale wasn’t planned. There was no active effort to go around and solicit buyers.” The CEO revealed to the Financial Times that his exchange “had been approached last year by four serious buyers including from China and the US.”

Kodrič explained that Bitstamp “opted to go with NXMH because it will allow the Luxembourg exchange to operate as it is.” He further asserted that “A major factor in agreeing to the sale is that the mission, leadership and vision of the company remain the same,” elaborating:

I want to assure you that Bitstamp remains Bitstamp … It is business as usual here.

In Monday’s announcement, Kodrič emphasized that Bitstamp customers “can expect improvements in user experience, customer service, trading functions and other operations.”

All-Cash Deal

The all-cash deal was signed by representatives of the two companies on Oct. 25, according to Reuters. Before the acquisition, Bitstamp’s shares were held roughly equally between the exchange’s two founders and hedge fund Pantera Capital Management, which invested $ 10 million into the company in 2014. Kodrič will remain the CEO of the exchange.

Bitstamp Confirms Acquisition by South Korean CompanyNXMH is acquiring an 80 percent stake in Bitstamp. “Merlak sold his entire 30 percent stake in Bitstamp with the deal and has not been active since 2015,” the CEO explained to the news outlet. Noting that further terms of the deal were not disclosed, the Financial Times elaborated:

Kodrič and Pantera will retain 10 and 6 percent stakes respectively, while NXMH will own the rest of the company.

While details of the deal do not include the sale price, New York Times reporter Nathaniel Popper tweeted in March that “Bitstamp, is in the final stages of being sold to South Korean investors for ~$ 400m.”

About the Companies

Founded in August 2011 by Kodrič and Merlak, Bitstamp began operation out of a Slovenian garage with a server, a couple of laptops, and a thousand euros in capital, Reuters detailed.

The Luxembourg-based exchange “has grown to more than 3 million registered customers today,” the publication noted and quoted Kodrič saying:

Bitstamp was valued at $ 60 million, up from a 2014 valuation of $ 39 million.

Bitstamp Confirms Acquisition by South Korean CompanyBelgium-based NXMH, with more than 2 billion euros in assets under management, is a subsidiary of South Korea’s NXC Corp., provider of online games primarily in Korea, Japan, Europe, and the United States. The group owns one of South Korea’s largest video game companies, Nexon Co. Ltd, as well as Korbit, one of the country’s top four crypto exchanges.

According to Monday’s announcement, Bitstamp and Korbit will continue to operate independently, but they “plan on generating synergies in a number of areas, including technology, research and development.”

What do you think of the acquisition of Bitstamp? Let us know in the comments section below.


Images courtesy of Shutterstock and Bitstamp.


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

The post Bitstamp Confirms Acquisition by South Korean Company appeared first on Bitcoin News.

Bitcoin News

Company Will Stop Selling Many E-Cig Flavors

October 26, 2018 |

E-cigarette users will soon have slightly fewer options. Altria, parent company of Marlboro maker Phillip Morris USA, announced Thursday that it will stop selling e-cigarette refill pods and most of its flavored e-cigarette products, the Wall Street Journal reports. During a call with analysts, CEO Howard Willard said that the…
Newser