Chinese Investors Bank on US Startups – Good News For Bitcoin
Startups are the next hot commodity when it comes to investing in people – and projects – that could become the next Google, Facebook, Twitter, or Uber. However, all of those startups are in need of funding, and that money has to come from somewhere. Young startups based in the US can rejoice, as AngelList announced a new US$400m fund, backed by one of China’s largest private equity firms. The world of finance is an odd creature, as there are rumours circulating regarding China wanting to create a new global currency to replace the US Dollar. Yet at the same time, one of the country’s....
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News from China is once again spreading through the bitcoin world like wildfire. It appears China’s central bank the People’s Bank of China (PBOC) is visiting with the top three Chinese exchanges and assessing each companies operations. Per usual on negative rumors from China the price of bitcoin took a dive during the early hours of January 11 dropping....
Unfortunately, the Chinese government is working on countermeasures. The current plan is to curb capital outflows, and they are paying close attention to the bullion market right now. It is evident the Chinese Yuan is not in a good place right now. Chinese investors are willing to exchange their Yuan for other assets, even if they have to pay a premium price to do so. Physical gold is of particular interest to them right now, despite the government looking to curb capital outflows. One could say Chinese investors find themselves in a gold-crazed scenario right now, and demand is surging at....
Sources in China have reported since this article appeared that the 'rumors' contained in the Caixin story appear to be true, though bitcoin exchanges still have received no official notice from the People's Bank. The bitcoin price has continued to drop, now sitting just above $500. Less than a week after a fake Chinese news report sent bitcoin and litecoin prices plummeting on some exchanges, another similar rumour hit the Internet on Thursday. News that the Chinese government would penalize any bank transacting with bitcoin exchanges after 15th April started to break around mid-morning....
FXBTC posted an announcement to their website earlier today, 5/2/14. The announcement let FXBTC customers know that FXBTC would be shutting down its site on 5/10/14. Users have until 5/10/14 to withdraw their funds from FXBTC. Unfortunately, withdrawals in Fiat at Chinese banks has been closed, at least to FXBTC customers, for over a month now. Furthermore, FXBTC's volume has been down for weeks now, and I highly doubt that there are many more customers with funds stuck there. FXBTC's announcement comes on the heels of Chinese news claiming that the People's Bank of China (PBOC) is....
After raising a $6.6 million fund from premier investors, including Marc Andreessen, Ben Davenport and others last November, Boost. VC announced its next batch of startups would all be bitcoin-related. But recently, the accelerator announced its next batch, "Tribe 6," will be split equally between bitcoin, virtual and augmented reality startups. Boost. VC founder and CEO Adam Draper told TechCrunch why they made the shift: "We're good at building communities around early tech sectors. We bring together investors, entrepreneurs and builders, and by focusing investments on a category over....