Why Is BitPay Currently Navigating through Troubled Waters?
Bitcoin based businesses have always been a target for hacking groups. There have been reports of hackers stealing a fortune from big and small businesses alike. While these intrusions and theft of bitcoin thefts gets reported easily when a smaller company falls prey for it, but it is not the same with big companies. BitPay is one such example. Recently it was reported that BitPay was the target of a hacking incident where it lost over 5000 bitcoins. The attack reportedly happened last year, but the information was not made public until the company was forced to report the incident in the....
Related News
It is not the first time Digital Bitcoin Company chairman Ho gets into troubled waters with law enforcement, as he falsely claimed Bitcoin investors wanted to buy cryptocurrency at a premium price. Bitcoin has attracted the attention of law enforcement agencies all over the world in recent years, yet some people still use cryptocurrency as a way to commit fraud. The chairman of Digital Bitcoin Company was arrested on fraud charges and handed over to the Criminal Investigation Bureau of Taiwan. Trouble Looms Over Bitcoin Trader, Things have gone awry for Digital Bitcoin Company earlier....
This article has been updated with comment from BitPay CEO Stephen Pair. BitPay has reduced the size of its staff in an effort to "reduce costs" and "better align with the pace of growth" in the industry, according to an email sent by CEO Stephen Pair to the firm's employees earlier today. The confirmation of staff reductions at the troubled bitcoin payments processor follows speculation, rumors and a report by bitcoin news source Qntra that BitPay employees were seen leaving its Atlanta office following layoffs. Pair's email, entitled "Important Company Announcement" and sent to the....
BitPay Inc, one of Bitcoin's lead payment processing companies, has just announced that it has surpassed 10,000 merchants. BitPay now provides services to merchants in 164 countries with approximately 50% in North America, 25% in Europe, and 25% in the rest of the World. During the month of August, BitPay processed over 10,000 transactions reaching a total value of over $6.4 million. As Bitcoin is becoming more mainstream many merchants are looking for expedient ways to sell products for BTC and BitPay is on the radar. With a Year-to-date in 2013 of over $34 million worth of bitcoins, a....
It would be generous to say that Benjamin Lawsky, superintendent of the New York Department of Financial Services (NYDFS), is viewed by the bitcoin community with some skepticism. The man who has championed 'BitLicenses' - bitcoin-specific versions of money transmitter licenses for New York State - has developed a reputation within the fledgling industry as someone who is, at best, 'not bad'. Yet, for a regulator navigating the waters of an industry with libertarian and anarcho-capitalist zealots at its core, that borders on near god-like status. While there are still many who dismiss his....
Bitcoin payments service provider Bitpay has added support for Apple Pay. Holders of a Bitpay prepaid Mastercard in the U.S. can now add it to their Apple Pay app to make payments for goods and services. Bitpay says that Google Pay and Samsung Pay will also be added in the near future. Bitpay Cardholders Can Now Use Apple Pay Bitpay announced Friday its support for Apple Pay. U.S.-based Bitpay debit card users can now add their Bitpay card as a funding source inside their Apple Pay app. This will allow them to make online and in-store purchases with cryptocurrencies wherever Apple Pay is....