Altcoin Exchange ShapeShift Raises $1.6 Million in New Funding
This piece has been updated with comment from ShapeShift CEO Erik Voorhees. Digital currency exchange ShapeShift.io has raised $1.6m in new funding. As reported by TechCrunch, the round drew support from Digital Currency Group, bitcoin entrepreneur Roger Ver and Bitfinex, the Hong Kong-based bitcoin exchange. Bitcoin Foundation executive director Bruce Fenton, Transform PR founder and CEO Michael Terpin and Trevor Koverko, founder of education-oriented e-commerce platform eProf, also took part in the round as angel investors. The announcement comes nearly six months after ShapeShift....
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An exchange that simplified interchangeability between multiple cryptocurrencies has received $1.6 million in new funding. Dubbed as ShapeShift.io, the reputed and renowned cryptocurrency converter offers more than 35 altcoins, including the likes of Bitcoin, Litecoin, Dogecoin, Dash, Ripple, Clams, NuBits and many others. The exchange comes handy for users who wish to instantly hedge their primary cryptocurrency funds into some other altcoin, for various purposes. For instance: NuBits is one of the only cryptocurrencies whose value is pegged to the dollar. In simple words, it is....
Instant bitcoin and altcoin exchange ShapeShift has received $525,000 in seed funding from investors Barry Silbert and Roger Ver. The Swiss-based platform, which lets users swap between 25 digital currencies and tokens, differs from traditional exchanges in that it operates without user accounts and requires no form of registration. Silbert, who invested as part of the Digital Currency Group, told CoinDesk: "ShapeShift has reinvented the altcoin market and enables the fastest, most efficient and least risky way for people to exchange different digital currencies and tokens." As part of the....
ShapeShift announced today that it had completed its fundraising of $1.6 million USD. ShapeShift is an exchange that allows users to transfer Bitcoin for dozens of other cryptocurrencies without any accounts or personal information being shared. Barry Silbert's Digital Currency Group and Roger Ver were the lead investors in this round. Bitfinex, Bitcoin Capital led by Max Keiser and Simon Dixon, Mardal Investments, Bruce Fenton, Trevor Koverko, and Michael Terpin also invested in the funding round. "ShapeShift demonstrated an entirely new way to think about asset exchange," said Zane....
ShapeShift has proven to be one of the most popular services to be available in the virtual currency ecosystem today. Having the option to trade Bitcoin and over 40 other virtual currencies intermittently, without having to register for an account or complete a verification procedure, has attracted a lot of attention. Earlier today, news broke about ShapeShift raising US$1.6m in funding to further expand their service. It is no secret that there is a lot of venture capitalist funds at play in the Bitcoin ecosystem. This year alone, more VC funds has been invested in Bitcoin projects....
Instant altcoin exchange ShapeShift.io chose to remove PayCoin from their platform. Today, altcoin exchangeShapeShift.io formally removed PayCoin (XPY), GAW CEO Josh Garza's controversial altcoin, from their list of accepted coins. Citing PayCoin's (alleged) broken promise to buy PayCoins at $20 each, ShapeShift considers PayCoin a fraud. Also read: Coin-Swap Retires Some Altcoins. PayCoin Delisted from ShapeShift.io. ShapeShift made the announcement in a Reddit post. They explain that they originally added the coin due to customer demand but decided to remove it after allegations that....