Bitcoin Super-Investor Roger Ver: Bitcoin Exchange OKCoin May Be Insolvent
An "angel investor" is someone who individually bankrolls an investment for a new company or business venture. They usually invest on a smaller scale than a "venture capitalist", but aren't looking to take a start-up public to reap huge rewards. An "angel" may invest more in the idea or the person leading the new venture than the expected financial returns, or the ability for the business to "go public". Well, Roger Ver is to angel investors what Phil Jackson is to NBA coaching success. He has had a hand in a long string of bitcoin success stories, and for bringing many people into the....
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The Bitcoin community has been known for its fair share of drama, and perhaps this is to be expected of such a dynamic new technological space. The most recent public event shaking the Bitcoin world centers on OKCoin, a Chinese Bitcoin exchange many suspect of being fraudulent and possibly insolvent, and the beloved Bitcoin Jesus, Roger Ver, who has faced some critics after having vouched for Mt. Gox before the troubled Bitcoin exchange went bankrupt. To be sure, the evidence damning OKCoin as inept and/or corrupt players seems obvious enough. For instance, the company's CEO once....
This week in Bitcoin, we saw a straight trend downwards, with no reversals or bounces. The price briefly held at $240, peaking at $242, and then proceeded to slowly depreciate until it hit a floor at $228 — decreasing nearly 5% over the last seven days. Since then, the price has recovered slightly and is hovering at $230. Bitcoin’s depression in price is most likely due to the attention OKCoin has been receiving due to the drama surrounding its management of bitcoin.com. In short, OKCoin abandoned the management of the website and Roger Ver, the domain owner, claimed that the CEO of OKCoin....
In the latest round of a long-standing feud, bitcoin investor Roger Ver has reportedly sued digital currency exchange OKCoin for $570,000. According to the South China Morning Post, a Hong Kong High Court document filed Wednesday shows that Ver alleges that OKCoin violated the terms of a contract for work the website Bitcoin.com. In late 2014, Ver and the bitcoin exchange initially joined forces to work on the website. OKCoin was tasked with a website redesign and SEO. One snippet of the contract specifies a partnership of a minimum of five years. This is the piece that has been the....
Though OKCoin in its official blog post says it is abandoning the management of Bitcoin.com due to contract conflict with domain owner Mr. Roger Ver, there is more to the story. It looks the organization was going through extreme pressure to bring revenue for Bitcoin.com. Though it tried using various ways, it seems nothing worked well. Then the recent developments like the fine on Ripple Labs Inc. and felony charges on Mr. Roger Ver broke the ship. Clarifying the major issue regarding the actual contract and what was going on lately that forced OKCoin to discontinue the management of....
One of the most recognizable bitcoin-related domain names is at the heart of a dispute between Chinese bitcoin exchange OKCoin and bitcoin entrepreneur Roger Ver. The issue stems from the management of the Bitcoin.com domain, after the two sides struck a five-year deal last December to control the property. Under the agreement, OKCoin was set to redesign the site and pay Ver a percentage of the revenue generated each month, with a minimum of $10,000 per month. The latest developments, which have seen Ver accuse OKCoin of fabricating legal documents and the exchange in turn alleging that....