South Korean Bitcoin Exchange Nets $400k in Silicon Valley Funding
South Korean bitcoin startup Korbit has announced that it will receive $400,000 in funding from various Silicon Valley investors. If that figure doesn't impress, the names behind it might. The list includes DFC founder Tim Draper, AngelList founder Naval Ravikant, SV Angel founder David Lee and Barry Silbert, founder of SecondMarket and a high-profile bitcoin advocate. Draper said bitcoin's growth in Korea has been remarkable, adding that Korbit is setting a good example for bitcoin companies around the world. He argues Korea could play a leading role in the future of global finance by....
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South Korean bitcoin services startup Coinplug announced this week that it has secured another $400,000 funding in a personal investment from Tim Draper of venture capital firm DFJ. Chol Hwan Kim from Key Initiatives Technical Entrepreneur also participated in the investment. This funding is in addition to the $400,000 Coinplug has already received from Silicon Valley investor SilverBlue in November last year. Bitcoin ATM, Gangnam style. As well as its bitcoin exchange, Coinplug also develops wallet and merchant payment software. Last month it even launched its own two-way bitcoin ATM in....
Richard Waters, writing in Financial Times, is reporting that Silicon Valley's A-Listers seem to be fast climbing onto the Bitcoin bandwagon. More and more of Silicon Valley's venture capitalists have been queuing up to invest in Bitcoin start-ups. Yesterday, some of Silicon Valley's heavy hitters bought into the $20 Million funding round for Xapo. This list included none less than Reid Hoffman of Greylock Partners, Mike Volpi of Index Ventures attracting funding from the deep pockets of Max Levchin, Yuri Milner as well as Jerry Yang, the co-founder and former CEO of Yahoo!. But this....
Having been in operation for nearly one year and accumulating on the order of 20,000 registered users in that time frame, South Korea's first and largest bitcoin exchange - Korbit - is reported to have received $400,000 in seed investment funding from Silicon Valley venture capitalists. The Valley's interest in this exchange halfway around the globe likely stems from the fact that the operation is already profitable. The exchange's success is, in part, attributable to the South Korean government's involvement - who is said to have provided funding to allow Korbit to get venture....
The Verge is reporting that South Korean Bitcoin exchange Korbit, has received $400,000 in funding. The investment money was pooled together by a group of Silicon Valley investors. Korbit was founded by Tony Lyu and launched in April 2013. Tony Lyu previously had the following to say about his startup. Tony Lyu. We are expanding access to financial services and reducing financial costs by enabling people to buy and sell Bitcoin. We also reduce financial crime and increase government tax revenue by offering a transparent finance network. As entrepreneurs we had experienced inefficiencies in....
Cardano founder Charles Hoskinson said he chose Wyoming to base Input Output Global (IOG), and not Silicon Valley, because of the Valley’s “unhealthy” environment. The comments dispel the notion that tech firms need Silicon Valley to “make it.” What’s more, his candid account of trying to integrate into that culture delivers a humbling that some […]