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| January 21, 2019

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Bill Gates: This $10B Investment Is My Best Ever

January 18, 2019 |

Bill Gates has been investing in health initiatives for 20 years now, and he writes in the Wall Street Journal that one particular type of investment in this field rarely fails to pay off. It involves what those in the global health field call “financing and delivery”—organizations that figure…
Newser

Celgene adds $30 million to investment in Soon-Shiong firm NantCell

January 6, 2019 |

Drugmaker Celgene Corp. agreed to invest an additional $ 30 million in a cancer-fighting start-up that’s majority owned by Los Angeles biotech entrepreneur Dr. Patrick Soon-Shiong, the companies said Friday.

Celgene’s second-round funding would raise its overall investment in NantCell to $ 105 million,…


L.A. Times – Business

The Investment That Cost Apple $9 Billion in 2018

December 28, 2018 |

Many large companies, including Apple, Wells Fargo and Citigroup, have used much of the windfall from the 2017 tax overhaul to buy back shares. But the recent plunge in stock prices has made that look like a bad idea.
WSJ.com: What’s News Asia

Investment Robo-Adviser Wealthfront Adds Support for Coinbase Accounts

December 26, 2018 |

Investment Robo-Adviser Wealthfront Adds Support for Coinbase Accounts

Wealthfront, one of the largest independent robo-advisers in the U.S. market, has added support for Coinbase accounts. The Wealthfront team explained that high customer demand was the reason for incorporating the new feature, stating: “We’re especially excited because this has been one of our clients’ most requested features.”

Also Read: Bitcoin Private (BTCP) Bug Exploited by ‘Bad Actor’

Wealthfront Adds Coinbase Support

Investment Robo-Adviser Wealthfront Adds Support for Coinbase AccountsWealthfront Advisers LLC (formerly known as Wealthfront Inc.) is a Redwood City, California-based robo-adviser providing automated, software-based portfolio management services, which was established in 2008. The company has recently announced that its users can now track holdings of cryptocurrency for the first time by connecting their accounts with the Coinbase exchange to the automated investment service.

“You have always been able to connect a wide variety of account types and asset classes to our Path advice engine — from bank and brokerage accounts to real estate, mortgages, and student loans. But we know many of you like to dabble in other innovative financial products, like cryptocurrencies. So now, we make it possible for you to add information about your cryptocurrency holdings in your Coinbase account to Wealthfront to get a more holistic view of your financial picture. And even more importantly, we factor that information into your free financial plan,” the Wealthfront team stated.

Over $ 11 Billion in Managed Assets

Investment Robo-Adviser Wealthfront Adds Support for Coinbase AccountsThe Wealthfront robo-adviser has over $ 11 billion in client assets under management, according to the U.S. Securities and Exchange Commission (SEC), making it one of the largest independent robo-advisers in the U.S. market. The company has reportedly raised a total funding of $ 65.5 million since its creation, from backers such as Benchmark Capital, DAG Ventures, Index Ventures, Ribbit Capital, Benchmark Capital, Marc Andreessen, Ben Horowitz and Jeff Jordan.

On Friday, the SEC announced it had found that Wealthfront made false statements about a tax-loss harvesting strategy it offered to clients, claiming to monitor accounts for transactions that might trigger a wash sale, but failed to do so. It also found that Wealthfront “improperly re-tweeted prohibited client testimonials, paid bloggers for client referrals without the required disclosure and documentation, and failed to maintain a compliance program reasonably designed to prevent violations of the securities laws.” Without admitting or denying the SEC’s findings, the company agreed to pay a $ 250,000 penalty.

Have you integrated your Coinbase account with Wealthfront? Share your experience in the comments section below.


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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 Investment Robo-Adviser Wealthfront Adds Support for Coinbase Accounts appeared first on Bitcoin News.

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SEC Chair ‘Optimistic’ DLT and Crypto Will Drive Investment Opportunities

December 14, 2018 |

Speaking as part of a testimony to the United States Senate Committee on Banking, Housing, and Urban Development, the chairman of the U.S. Securities and Exchange Commission Jay Clayton expressed optimism that the distributed ledger technology (DLT) sector will “facilitate capital formation.” Clayton also discussed the enforcement actions taken by the SEC in regulating initial coin offerings (ICOs).

Also Read: New Bitcoin ATM Tracker Site Launches in Russia 

SEC Chair Believes Crypto and DLT Will Generate Capital Formation

SEC Chair 'Optimistic' DLT and Crypto Will Drive Investment OpportunitiesJay Clayton stated that he is “optimistic” that the developing DLT sector will “facilitate capital formation” and provide “investment opportunities for both institutional and Main Street investors.”

The SEC chairman praised the commission’s regulatory apparatus pertaining to cryptocurrencies and DLT, describing it as a “balanced” approach that simultaneously “fosters innovation” and “protects investors.”

Clayton stated that the SEC has used a multitude of channels to convey its “message” to investors, citing the example of the SEC’s Howeycoins.com website. Of the site, Clayton said that the SEC “created a website to educate the public about frauds involving ICOs and just how easy it is for bad actors to engineer this type of fraud,” adding that the website attracted “over 100,000 people” within one week of being online.

Clayton Highlights SEC Oversight of ICO Sector

SEC Chair 'Optimistic' DLT and Crypto Will Drive Investment OpportunitiesThe SEC chair asserted that the commission has been “focusing a significant amount of attention and resources” to the oversight and regulation of cryptocurrencies and ICOs. Clayton emphasized the inter-division and inter-agency collaboration that the SEC has undertaken recently, highlighting the issuance of public statements regarding ICOs and virtual currencies.

Clayton stated that “while some market participants have engaged with our staff constructively and in good faith with questions about the application of our federal securities laws,” some companies have sought to “prey on investors’ excitement about cryptocurrencies and ICOs” and to engage in “fraud” or “other violations” of U.S. securities laws.

Clayton also highlighted the commission’s establishment of a cyber unit last year, stating that “In its first year, the Cyber Unit led investigations that resulted in several emergency actions to stop ongoing alleged frauds against retail investors that involved ICOs, as well as charges against a bitcoin-denominated platform and its operator for running an unregistered securities exchange and defrauding users of that exchange.”

Speaking on the cyber unit’s actions beyond ICOs, the SEC chair asserted that the unit’s enforcement actions led to the regulator returning $ 1.07 billion to investors during the 2017 financial year, and $ 794 during the 2018 financial year so far.

Do you think that the SEC’s regulatory approach is balanced? Share your thoughts in the comments section below!


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At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post SEC Chair ‘Optimistic’ DLT and Crypto Will Drive Investment Opportunities appeared first on Bitcoin News.

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Ukrainian Village Distributes Dividends From Crypto Investment

December 11, 2018 |

Ukrainian Village Distributes Dividends From Crypto Investment

Despite the market slump, the head of а village council in Ukraine has managed to earn profit from a cryptocurrency investment he made on behalf of the residents of the Elizavetovka, Dnipropetrovsk region. Earlier this year, Maxim Golosnoy bought a small amount of cryptocurrency using his own savings and has recently distributed dividends to the villagers.

Also read: Australian Company Issues Loans Backed by Cryptocurrencies

Everyone in Elizavetovka to Receive 100 Hryvnias

Ukrainian Village Distributes Dividends From Crypto Investment
Maxim Golosnoy

When Golosnoy announced the investment this past spring, he emphasized that he hadn’t used any budgetary funds for his “crypto experiment.” Ukrainian media reported the local official had spent some of his own money, around $ 500, to purchase the cryptocurrency. Golosnoy said he bought the digital coins for the people of Elizavetovka, stating that every adult resident owns a share.

During a recent town hall meeting, the villagers learned each one of them is now entitled to receive 100 hryvnias, Ukrainian outlet Segodnya reported. The dividend is worth only around $ 3.60 but no one really expected any revenue in the current market situation anyway. Golosnoy told them:

This was a cryptocurrency experiment. No budgetary funds have been spent and you still have the cryptocurrency. The funds you have just received are only dividends.

In May, Maxim Golosnoy reportedly purchased for the villagers some cardano, one of the coins recognized as means of payment in Elizavetovka, along with bitcoin core and ethereum. At the time, the price of the cryptocurrency was $ 0.14 per coin. A month and a half later, when its value reached 39 cents, he sold some of the coins to recover his initial capital investment.

Golosnoy did not go into details about his subsequent crypto deals. ADA is currently trading at around $ 0.03 after it fell from its all-time high of $ 1.15 per coin in January of this year.

Crypto Revenues to Be Spent for Road Repairs

Ukrainian Village Distributes Dividends From Crypto InvestmentThe residents of Elizavetovka have decided to use part of the revenues from Golosnoy’s crypto investment to fix some potholes on the road that passes through their village. They have already collected 1,200 hryvnias, a little over $ 400, to finance the repair works scheduled to begin as soon as the snow melts away next spring, the local TV channel Ukraina reported.

Maxim Golosnoy admitted he plans to continue his cryptocurrency investment experiment. The chairman of the village council hopes he will able to distribute much higher dividends in the future. Golosnoy believes the payouts can reach 2,000 hryvnias next year. He also wants to obtain permission from the authorities in Kiev to invest some of Elizavetovka’s budget surplus in digital assets.

Cryptocurrencies are yet to be regulated in Ukraine. According to a recent report, the government intends to fully legalize them within the next three years. Three bills have been filed in Ukraine’s parliament since last fall, but very little progress has been made toward their adoption. In the last couple of months, Ukrainian lawmakers proposed two new drafts introducing tax breaks for organizations and individuals reporting income and profits from crypto-related transactions.

What do you think about the crypto investment initiative in Elizavetovka? Share your thoughts on the subject in the comments section below.   


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The post Ukrainian Village Distributes Dividends From Crypto Investment appeared first on Bitcoin News.

Bitcoin News

The Daily: Binance Shows DEX Preview, Ohio to Attract Blockchain Startups With Big Investment

December 5, 2018 |

The Daily: Binance Shows DEX Preview, Ohio to Attract Startups With Big Investment

In today’s edition of The Daily, we cover Binance’s second preview of its upcoming decentralized exchange and how the state of Ohio plans to attract blockchain startups with big investments and tax breaks. We also look at the lifting of a mining moratorium in Washington state and an update on the financial performance of the Bitcoin.de operator.

Also Read: Chinese Government-Backed Company to Launch Stablecoin

Binance Offers Update on Decentralized Exchange

Binance has released a new demonstration for the upcoming decentralized exchange (DEX) based on its BNB token. The video previews its trading interface as well as the accompanying blockchain explorer and web wallet creation tools.

The platform will be maintained as a community project and is expected to launch early next year. It promises to enable users to secure funds through decentralized wallet applications so they retain full control over their private keys, unlike with a centralized model.

“Binance DEX is made by the blockchain community, for the blockchain community, with support from Binance developers, as part of advancing our mission to spread the freedom of money,” the developers stated.

Ohio Wants to be the Midwest’s Blockchain Mecca

Binance Shows DEX Preview, Ohio to Attract Blockchain Startups With Big InvestmentThe U.S. state of Ohio is further positioning itself as a new technology hub. A group of local funds are offering to invest up to $ 300 million in blockchain startups over the next couple of years, according to reports from Cleveland.com. A local accelerator has also announced a $ 6 million pre-seed fund for blockchain startups.

The money is meant to attract blockchain startups to Ohio’s “Opportunity Zones,” which offer tax incentives to new companies. “We want to be the state in the Midwest that everybody turns to,” Ohio’s Lt. Governor-elect Jon Husted commented at a local blockchain conference.

In November, the Ohio State Treasurer set up a cryptocurrency payment portal to accept bitcoin for taxes. And in August, the state formally recognized data recorded on blockchains as having legal bearing in a court of law.

Mining Moratorium Lifted in Chelan County, Washington

Binance Shows DEX Preview, Ohio to Attract Blockchain Startups With Big InvestmentThe Chelan County Power Utility District (PUD), an electricity provider in north-central Washington state, made headlines around the world earlier this year when it installed bulletproof panels and security cameras to protect its headquarters from crypto miners who were angry over a moratorium on new operations.

Now that mining isn’t as profitable as it once was, the utility has reportedly decided to lift the moratorium and simply hike rates on miners. Hopefully by the time new operations can start in April, the market will have recovered.

“We’ve taken the time needed for a careful look at the risks and costs involved, considered public comments gathered at a dozen meetings, and arrived at a solution we believe protects existing PUD customers-owners and maintains opportunities for this emerging industry,” said Steve Wright, general manager of the Chelan County PUD.

Germany’s Bitcoin Group Downgrades Forecasts

Binance Shows DEX Preview, Ohio to Attract Blockchain Startups With Big InvestmentBitcoin Group SE, which operates regulated German crypto trading platform Bitcoin.de, adjusted its previously announced earnings forecast for fiscal year 2018 on Tuesday. It also announced that its previous target of reaching 1 million users in 2018 will not be met, as the bear market has evidently hurt enrollment.

The company now expects revenues of just €9.5 million ($ 10.79 million) for fiscal 2018, down from €12.6 million ($ 14.3 million) the previous year. With estimated costs of about €2.5 million ($ 2.84 million), profit before taxes is expected to be about €7 million ($ 7.95 million).

“Many clients are more cautious in their investment decisions due to the overall challenging market environment. This is also reflected in the listing of major cryptocurrencies. We are continuously expanding our business model in order to be able to act even more independently in the future,” said Marco Bodewein, managing director of Bitcoin Group SE. “We have already reached important milestones in this respect, and more will follow. In this way, we will be able to increase our pace on the growth path and inspire more customers with our services and products.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


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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: Binance Shows DEX Preview, Ohio to Attract Blockchain Startups With Big Investment appeared first on Bitcoin News.

Bitcoin News

Israeli Firm Launches Three Cryptocurrency Investment Funds

November 21, 2018 |

Israeli Firm Launches Three Cryptocurrency Investment Funds

An Israeli investment firm has launched two cryptocurrency funds, with a third on the way. The company’s CEO explained the funds’ three investment strategies to news.Bitcoin.com. These funds are Cayman Islands-registered, available to institutional and accredited investors.

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

Three Funds, Investment Strategies

Israeli Firm Launches Three Cryptocurrency Investment FundsCryptocurrency investment firm Silver Castle has launched two cryptocurrency funds with another on the way. Bloomberg describes the company as “Israel’s first dedicated cryptocurrency investment firm for institutional and accredited investors.”

Silver Castle CEO Eli Mizroch told news.Bitcoin.com on Wednesday, “We have now launched our first two funds. They are both Cayman Islands-registered and are open to institutional and accredited investors.” He elaborated:

The first fund is algo-based, momentum-driven, long [and] short on bitcoin and top five [crypto]currencies. The second is smart beta, fully-invested in the top 10 coins. We aim to launch our third fund, a VC fund, that will participate in token offerings, in Q1 2019.

Israeli Firm Launches Three Cryptocurrency Investment FundsThe firm has its proprietary crypto-algo system and security protocol. Smart beta combines passive investing strategies with active ones.

Bloomberg reported on Sunday that the first fund “picks the five biggest coins by market capitalization,” adding that this algorithmic trading system “has been used in-house for over a year and the portfolio has achieved ‘high double-digit’ returns in dollar terms despite bitcoin’s plunge this year.” In contrast, the second fund “is fully invested, automated and offers a basket of the top 10 coins, weighted according to an algorithm.”

The news outlet also noted that Silver Castle launched the first two funds this month “and expects to have $ 50 million under management by the end of the year.”

‘Landmark Launch’ for Israel

Israeli Firm Launches Three Cryptocurrency Investment FundsSilver Castle’s website states that the company manages crypto-based assets, advises companies on initial coin offerings and security token offerings, as well as invests in blockchain technology initiatives.

Gadi Isaev, founding partner of the Israeli Blockchain Association, calls Silver Castle’s launch “a landmark event for the entire Israeli market,” citing that its team comprises both leaders and pioneers of the Israeli financial industry, Bloomberg conveyed.

Mizroch told the news outlet, “We spent close to a year building robust infrastructure for managing other people’s money at the level of institutional grade.”

What do you think of the crypto funds launched by Silver Castle? Let us know in the comments section below.


Images courtesy of Shutterstock and Silver Castle.


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

The post Israeli Firm Launches Three Cryptocurrency Investment Funds appeared first on Bitcoin News.

Bitcoin News

KPMG: Institutional Investment Key to Cryptoassets Growth

November 20, 2018 |

KPMG: Institutional Investment Key to Cryptoassets Growth

Auditors KPMG have published a report stressing the need for institutional investors to join the cryptocurrency industry. The report outlines the importance of cryptoassets as an investment alternative and how institutional investors can take part in the process.

Also Read: Zimbabweans Use BTC to Pay For Food Hampers Amid Foreign Currency Crisis

‘Digital Assets Have Potential, Institutionalization Needed to Scale’

In the report, released Nov. 18, the Netherlands-based firm said a new world of finance is emerging in which transacting in digital assets may become standard operation. “Cryptoassets have potential,” KPMG wrote, in the report titled ‘Institutionalization of Cryptoassets.”

KPMG: Institutional Investment Key to Cryptoassets Growth

“But for them to realize this potential, institutionalization is needed. Institutionalization is the at-scale participation in the crypto market of banks, broker dealers, exchanges, payment providers, fintechs, and other entities in the global financial services ecosystem,” it said.

The study comes at a time the use of digital currencies is gaining worldwide adoption, both as a unit in financial transactions and as a store of value.

Christine Lagarde, the managing director of the International Monetary Fund, last week said central banks throughout the world should consider issuing digital currency to make transactions more secure. Lagarde argued that state-backed cryptocurrencies could satisfy public policy goals related to financial inclusion, consumer protection, privacy and fraud prevention.

Although observers point to the risks of central banks’ involvement in cryptocurrency, such as the potential to slow down transactions and raise costs through over-regulation, KPMG views the coming on board of financial institutions as crucial to boosting public confidence in digital assets.

“Institutionalization is the necessary next step for crypto and is required to build trust, facilitate scale, increase accessibility, and drive growth,” the auditors asserted, adding that it would be prudent for countries in hyperinflation, like Argentina, to adopt cryptocurrencies to preserve value.

KPMG: Institutional Investment Key to Cryptoassets Growth

KPMG said: “A globally accessible, decentralized store of value could have a significantly stabilizing impact on the country’s economy. Bitcoin could potentially represent such a store of value in the future.

“Interestingly, even though there are large price fluctuations with Bitcoin, it is not inherently volatile. The supply is in fact fixed and algorithmically secured. It is the demand that is fluctuating and this could eventually stabilize as the market matures,” it added.

Truly Open Global Financial System

Writing in the same report, Coinbase chief compliance officer, Jeff Horowitz, said cryptoassets are an opportunity to transform the financial industry into a truly open global financial system.

“Regulatory agencies are also beginning to seriously discuss cryptoassets, which could help drive institutional participation, encouraging the marketplace to think about how engagement with these assets fits into both existing rules and regulations and new frameworks that may be needed for crypto,” he said.

However, Horowitz noted that the focus on cryptocurrency innovation must not come at the expense of security, compliance, and consumer protection.

KPMG: Institutional Investment Key to Cryptoassets Growth

“Leaders in the crypto space, including crypto entities and industry partners, have a responsibility to help influence and educate key legislators and regulators to advance the overall governance and enforcement framework,” Horowitz detailed.

“In many ways, leading crypto companies should aspire to meet the standards and leading practices established by traditional financial services companies. We believe this will help promote trust and accelerate the adoption of crypto by investors and institutional clients,” he added.

Do you think corporate investors will help grow the cryptocurrency industry? Let us know in the comments section below.


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The Bitcoin universe is vast. So is Bitcoin.com. Check ourWiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page

The post KPMG: Institutional Investment Key to Cryptoassets Growth appeared first on Bitcoin News.

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Bitcoin Group SE Buys Investment Bank Tremmel for Undisclosed Figure

November 13, 2018 |

Bitcoin Group SE Buys Investment Bank Tremmel for Undisclosed Figure

Bitcoin Group SE has bought 100 percent shares of investment bank Tremmel for an undisclosed amount. This is the German digital currency exchange operator’s second acquisition in 2018. Bitcoin Group, which holds current assets of $ 40 million, said Tremmel allows it to issue its own cryptocurrency-related products, conduct proprietary trading and operate bitcoin ATMs.

Also Read: Sompo Holdings Acquires 10% Stake in Kenyan Cryptocurrency Exchange Bitpesa

Acquisition to Expand Bitcoin Group Services Portfolio

Bitcoin Group SE Buys Investment Bank Tremmel for Undisclosed Figure

The Frankfurt Stock Exchange-listed company operates Bitcoin.de, Germany’s only regulated digital currency exchange, trading BTC, BCH and ETH. It hopes to use Tremmel’s banking license to expand the range of its service portfolio. For example, Bitcoin Group said it is now possible for the trading platform to maintain an order book and even quote prices, while simultaneously ensuring more liquid trading.

“We are very pleased that in Tremmel Wertpapierhandelsbank Gmbh…we have been able to gain an excellently positioned partner with in-depth knowledge of the market,” Marco Bodewein, managing director of Bitcoin Group, said in an online statement on Nov. 12. “This will enable us to take the corporate development of Bitcoin Group SE to a new level,” he added.

Bitcoin Group SE Buys Investment Bank Tremmel for Undisclosed Figure

The deal is expected to be completed in the first half of 2019, subject to approval by relevant regulatory authorities. Bitcoin Group did not disclose the actual purchase price, but said “it is in the lower seven-digit euro range.”

Rainer Bergmann, the previous sole shareholder and managing director of Tremmel, is to continue working at the investment bank in the same capacity. The bank, which trades shares, bonds and other stock exchange products on behalf of local and foreign banks, insurance companies and asset managers, will be expanded into a deposit-taking institution, Bitcoin Group said.

Restructuring

Digital currency exchanges are looking for growth in new areas or to consolidate existing positions to help boost revenue and minimize risk from an uncertain regulatory environment in their home economies.

Bitcoin Group SE Buys Investment Bank Tremmel for Undisclosed Figure

In January, Bitcoin Group, which has 753,000 investors actively using its exchange to buy and sell digital assets, bought a 50 percent stake in financial investment broker Sineus Financial Services Gmbh, to diversify risk. “In the future, this will enable the group to offer additional financial services in the cryptocurrency sector,” the company said at the time.

For the first six months of this year, Bitcoin Group reported net profit increase of 306 percent to $ 3.85 million from $ 0.95 million a year earlier. Revenues tripled to $ 6.57 million from $ 2.1 million in the comparable period a year ago. Operating profit climbed 368 percent to $ 5.64 million. The exchange said about $ 707.6 million worth of BTC was traded on the platform at the end of last year, when the price of the cryptocurrency peaked at $ 20,000.

After close Tuesday, shares of Bitcoin Group were down 0.36 percent at $ 31.41 in Frankfurt trading. Over the past 52 weeks, the stock has reached a low of $ 28.02 and a high of $ 97.18.

What do you think about Bitcoin Group’s latest acquisition? Let us know in the comments section below.


Images courtesy of Shutterstock.


The Bitcoin universe is vast. So is Bitcoin.com. Check ourWiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page

The post Bitcoin Group SE Buys Investment Bank Tremmel for Undisclosed Figure appeared first on Bitcoin News.

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