BlockFi Raises Over $18 Million USD in Funding Round

US cryptocurrency lending startup BlockFi has raised $18.3 million USD in a funding round led by Valar Ventures, the company announced on Tuesday. BlockFi is the first company of its kind to receive institutional funding for crypto-based loans in US dollars, in the form of a $50 million lending facility from Galaxy Digital. The new capital will reportedly be used to expand the array of products on BlockFi’s existing platform that includes interest-earning accounts for Bitcoin (BTC) and crypto-backed USD loans. BlockFi also plans on using the investment to double…

MasterCard to Build Crypto and Wallet Products

MasterCard Inc. (NYSE:MA) is planning to venture into the cryptocurrency space with a focus on creating a crypto team of 28 cryptocurrency professionals that will spearhead the development of cryptocurrency and wallet products. Recruiting of Crypto Experts On MasterCard’s website, under the career tab, the company notes that it is seeking individuals who will fill the positions of senior blockchain engineer and engineering lead, vice president for product management, product innovation, and development director and product management director for cryptocurrency and wallets. Equally, there are other senior roles that the…

Crypto Derivatives Trading Platform FTX Raises $8 Million

FTX, a new cryptocurrency derivatives exchange and trading platform, has raised $8 million in a funding round led by blockchain-focused fund Proof of Capital, Consensus Lab, FBG and Galois Capital. Proof of Capital is a $50 million venture capital (VC) fund launched in April 2019 by partners from Horizons Ventures, Greylock Partners and 500 Startups, and backed by the likes of HTC and YouTube co-founder Steve Chen. The fund invests in early-stage blockchain startups with a focus on fintech, infrastructure, hardware and consumer products, and made one investment prior to…

Bitcoin Price Explodes Past $12,000, ‘Clear Skies’ to 2019 High

Bitcoin price shatters a new milestone amid a stock market tumble. | Source: Shutterstock The bitcoin price pierced $12,000 on Tuesday as traders seek refuge from global instability on traditional markets. As global stock markets reel from the escalating trade war between the US and China, Bitcoin has climbed more than 20% in five days, briefly hitting $12,265 on Coinbase. The move upwards was accompanied by the strongest volume in over two weeks. The bitcoin price rocketed past $12,000 on Tuesday as global instability grips the stock market. Source: TradingView…

Bitcoin Price Rises Above $12K to Hit One-Month High

View Bitcoin’s move above $12,000 is backed by an uptick in trading volumes and bullish readings on the daily chart. BTC could close well above $12,000 today, confirming a falling channel breakout on the daily chart and extend gains toward $13,200 (July 10 high) in the short-term. The 4-hour chart is reporting overbought conditions and a bearish indicator divergence. So, prices may pull back to $11,800–$11,600 and the bullish UTC close above $12,000 may be delayed till Wednesday. The bullish case would weaken if prices drop below key average support,…

Japanese Crypto Exchange Bitpoint Restarting Trade Services

Japanese crypto exchange Bitpoint is resuming some trading services following a $28 million hack in mid-July. Bitpoint is re-opening cash deposits and withdrawals in fiat currencies on August 6th following a safety assessment of the exchange’s cryptocurrency wallet. According to CoinDesk Japan, the hacked wallet is no longer in use and therefore not under threat. Margin trading services will begin August 9th. The exchange says margin trading utilizes a similar wallet to fiat withdrawals. Spot trading will open on August 13th. Bitpoint confirmed later the stolen crypto assets included 1,225…