Bitcoin Foundation Names South African Investor as New Director
Bitcoin’s oldest trade organization has voted in a new executive director. Weeks after outgoing executive director Bruce Fenton notified the board his term was nearing conclusion (rumors suggested he had resigned), the Bitcoin Foundation has named Llew Claasen to the position. A relative unknown in the bitcoin and wider blockchain community, Claasen is a venture capitalist from Cape Town, South Africa and the managing partner of Newtown Partners, who primarily has a background in online and mobile infrastructure. Fenton will remain a board member of the Bitcoin Foundation. The vote....
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Over a year after being voted in as the executive director of the Bitcoin Foundation, Bruce Fenton is closing his term, with a relatively unknown South African venture capitalist, Llew Claasen, primed to take over. As a bitcoin advocacy group and trade organization, the Bitcoin Foundation will see a new executive director in Llew Claasen, a Cape Town-based venture capitalist. The South African is a managing partner at Newton Partners, a venture capital firm and investor with a focus on internet and mobile technology. Claasen will commence duties as executive director on July 1, after being....
Investors in Africrypt, the now-defunct South African crypto platform, were recently reimbursed a portion of their invested funds. The payments were made by Pennython Project Management LLC as part of a settlement offer that potentially ends claims against Africrypt’s runaway directors.
White Knight Investor Identity Revealed
Investors in Africrypt, a collapsed South African cryptocurrency investment platform, recently began receiving payouts from a so-called white knight investor, a report has said.
According to an Itweb report, which named Pennython Project....
Creditors of a South African crypto trading firm, Africrypt, have agreed to a proposal recently tabled by an unnamed investor who is seeking to resuscitate the collapsed company.
Africrypt’s Intellectual Property
In addition to paying $4 million — which will be used to pay off some of the crypto firm’s debts — the investor is also willing to part with $1 million which will go towards the acquisition of 51% of Africrypt’s shares and the company’s intellectual property rights.
As previously reported by Bitcoin.com News, an....
According to local media, leading South African financial institution FNB is denying allegations of a banking relationship with the recently collapsed crypto investment company, Africrypt. FNB also insists it did not enable the investment company’s transactions which helped Africrypt’s two directors disappear with billions of dollars in investor funds. Disappearance of Investor Funds The financial institution’s denial comes nearly two months after Africrypt abruptly stopped operating. At that time, the crypto investment firm’s management claimed Africrypt’s....
A South African tax expert, Thomas Lobban, has warned non-tax paying crypto traders that they now face possible jail time if the South African Revenue Services (SARS) decides to lay tax offense charges against them. He adds that this threat of jail time similarly applies to South African crypto traders that use offshore exchange platforms to trade or store their crypto assets. Lack of Guidance Blamed Lobban’s warning follows reports earlier in the year which suggested that changes to South African tax laws may have made it “easier for SARS to secure criminal convictions for....