itBit Hires Ex-PayPal Manager and SecondMarket Analyst
Singapore-based bitcoin exchange itBit has announced two new hires it hopes will strengthen its credibility in the traditional financial industry and assure users it is being responsible with their funds. The company's hirings are significant: a senior manager at PayPal and an analyst fresh from a long stint at SecondMarket, the online marketplace for trading illiquid assets and parent company of the Bitcoin Investment Trust. Together they bring expertise from the mainstream payments industry and other sections of the bitcoin economy to the young Asian exchange. Erik Wilgenhof Plante. The....
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Barry Silbert: he's one busy businessman. From CEO of SecondMarket and the Bitcoin Investment Trust, in addition to the leader of the new Bitcoin Opportunity Corp., he's had quite a lot going on. And now we're learning via BusinessInsider that Silbert is planning to step down from his role as CEO at SecondMarket, an online illiquid asset marketplace. He's reportedly now exclusively committed to working on his bitcoin-related ventures, specifically the Bitcoin Investment Trust, which allows major investors to get involved with bitcoin in a secure manner. Silbert will still remain the....
Have a chunk of bitcoin you want to sell? SecondMarket might be willing to scoop it up from you. The company, which manages the Bitcoin Investment Trust, has set up a page on their website dedicated to the cause. SecondMarket is currently buying bitcoin. Any bitcoin holders interested in selling blocks of bitcoin can benefit from our deep knowledge base of the bitcoin markets. Here are the outlined steps to completing such a transaction, according to SecondMarket: Seller completes a New Account Profile (NAP) form. SecondMarket notifies seller of approval to trade once compliance procedures....
In April, Bitcoin Magazine reported that Bitcoin exchange itBit had filed for a banking license in New York. Later in May, itBit was granted a trust charter by the New York Department of Financial Services (NYFDS) under New York State banking law, the first such charter granted to a digital currency company by the NYDFS. ItBit also announced the successful completion of a $25 million Series A funding round. On September 2, itBit announced the appointments of Daniel "Danny" Alter as the company's new general counsel and chief compliance officer, and Kim Petry as chief financial officer.....
Singapore-based exchange itBit recently built a trading-specific platform for bitcoin; now it is offering a cut-price promotion in an attempt to draw in new customers. The company has not had any of the problems that other exchanges have been experiencing lately. In fact, itBit CEO Rich Teo has said that recent events have led to increased interest in his company's platform. "Based on the way our wallet is built, we weren't affected. We haven't seen any issues," he said. Near the end of last year, itBit received $3.2m in venture capital, bringing its funding total to $5.5m. Cold storage.....
ItBit has launched its Global OTC Agency Trading Desk, a new, five-person over-the-counter (OTC) trading service that allows customers to complete trades outside its online order books. The trading desk will facilitate transactions of 100 BTC (roughly $28,000 at press time) or more with no broker or trading fees. As part of a limited promotion, new users will also receive $50 in bitcoin for completing their first trade. ItBit Institutional Client Group director Bobby Cho noted that the new product aims to appeal to large volume buyers who want to avoid exchange slippage, whereby their....