ANX Acquisition Revives Troubled Bitcoin Exchange Justcoin
ANX has acquired the domain name and brand rights to troubled Norway-based bitcoin exchange Justcoin. The exchange, which lists bitcoin, litecoin and dogecoin, and is also a gateway for crypto payment protocols Ripple and Stellar, will resume operations next week under new management. ANX plans to revive the exchange formally on 24th November. Justcoin was forced to suspend operations on 28th October, after its banking partner severed ties with the company. At the time, the exchange said it was unable to secure an alternative banking partner in Norway. Earlier this week, Justcoin tweeted....
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Two of the most major Norwegian banks have announced to the public that they will no longer service Bitcoin companies. The "Bitcoin chill" in Norway has caused Norwegian Bitcoin exchange, Justcoin, to close their doors. Justcoin also suffered a Ripple hack earlier this month after a Ripple feature was improperly implemented by the exchange. Both Justcoin and Ripple were able to right themselves to the community; however, it seems that larger powers have ended Justcoin's run. Justcoin won't be the only Norwegian Bitcoin company frozen out by the banks, as revealed by Justcoin founders: "Its....
It looks as though Justcoin, a Norwegian-based bitcoin exchange, isn't leaving after all. ANX, a Bitcoin company based in Hong Kong, announced today that they are the new owners of Justcoin's domain and brand rights. ANX said they were able to migrate the Justcoin platform in less than a week with the ANX proprietary trading engine and "white-label capabilities." Hugh Madden, chief technical officer of ANX, explained the reasoning for the acquisition in a press release, highlighting the need to expand ANX's global footprint. "We have long recognized the vital role Europe has in the global....
Justcoin's founders have reported to CCN that over 96% of users have withdrawn their fiat and cryptocurrency. These include Ripple and Stellar amounts previously taken in a hack earlier this year. Since the announcement of their closure, Justcoin's support staff has been working double time to manually process all withdrawals. The confirmations of successful withdrawals have been reported from within the community on both the Bitcoin subreddit and on Bitcointalk. Justcoin plans to keep reaching out to its users to help them withdraw before the November 11th deadline. Justcoin's co-founder....
Hong Kong-based bitcoin exchange ANX has commenced a push into the US market with its acquisition of the domain name and brand rights to CoinMKT.com. The CoinMKT exchange, founded by Travis Skweres and Ola Ajayi in Santa Monica, California, will continue to operate as usual, under the ANX umbrella and using ANX technology. The founders will be helping with the transition. ANX COO Dave Chapman said another business relationship currently being put in place will also provide the exchange with access to vital money transmission business (MTB) licenses and banking relationships throughout....
Update: Justcoin has responded to our questions indicating that no such deal is imminent and stresses that they are still focused on getting users to withdraw their funds. Stating: "We've been contacted by many other digital currency businesses since our announcement. Right now, our focus is on making sure our users withdraw their funds." Justcoin had a bad October. After controversy regarding an issue with the Ripple protocol (Ripple claims that the issue was with Justcoin, while Justcoin maintains that the issue was with Ripple's protocol) they announced to its users through email that....