"If we disappear, you still have your Bitcoin" - BitGo's CEO
In an interview to the Bloomberg Brief, the co-founder and CEO of BitGo, Mike Belshe said that the company's core principle is to never hold enough private keys to sign a transaction. That way, "if we disappear, you still have your money." The CEO adds that the multi-sig Bitcoin wallet service provider adheres to a twofold litmus test for transactions, wherein the company cannot transact without the customer (since they do not hold enough private keys) but the customer can easily transact without the company. Mike Belshe, who recently replaced Will O'Brien as the acting CEO of the Bitcoin....
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Digital asset security platform, and a prime name in the Bitcoin security, BitGo, has launched unique automated open source Key Recovery Service (KRS) software for provisioning the cold backup keys. The solution is also cost-effective and the company is hoping that this factor would enable the industry to use it and ensure better security. BitGo has been working on this with the goal to provide a secure digital asset vault while making sure that the wallet users have full control of their digital assets. This approach, of providing full access of digital assets to their owners, makes sense....
PALO ALTO, CA — Today, BitGo announced the launch of its new service, BitGo Instant. BitGo claimed that this service is “the world’s first way to safely receive zero-confirm Bitcoin transactions with a full financial guarantee. Along with the announcement of its launch, BitGo reported that it has a “strong list of initial partners,” to recognize the zero-confirmation transactions. These partners include, Bitfinex, Bitstamp, CoinHako, FoldApp, Genesis Trading, Kraken, ShapeShift and Unocoin. BitGo Instant with a multi-signature wallet implementation. BitGo Instant wallets consist of 3 keys:....
BitGo Inc., a multi-signature security company, announced the release of its newest product, BitGo Instant, which removes transaction delays completely. Along with its announcement of BitGo Instant, the company has also announced its launch partners for instant transactions. “At the beginning of this week, we had six partners. At the end, we had 10. It’s not all exchanges,” Ben Davenport, CTO of BitGo, told Bitcoin Magazine . “We have a few consumer-facing apps like Fold App. All of these guys are signed up to receive BitGo transactions. Anyone with a BitGo wallet will be able to send to....
BitGo has declared that its systems were not breached, and its software functioned correctly during the Bitfinex hack. Co-founder and CEO at BitGo, Mike Belshe, wrote on the company’s blog saying: Our job is to protect your Bitcoin and continue to improve the security of the service. BitGo systems were not breached in this attack and our software functioned correctly. This may seem like an inadequate explanation, because everyone wants to know “what needs to change to avoid what happened in this case,” and we understand that. Fortunately, the Bitfinex configuration was unique and other....
Galaxy Digital has announced that it’s backing out of its $1.2 billion proposed acquisition of the cryptocurrency custodian, BitGo. Galaxy Digital Backs Out Of BitGo Deal A $1.2 billion acquisition of Palo Alto, California-based BitGo by digital asset investment firm Galaxy Digital has been canceled, ending one of the biggest acquisitions in cryptocurrency history. In […]