Gavin Smith: BitFinex Hack has Strengthened Bitcoin Industry
Gavin Smith, the CEO of Bitcoin margin trading firm First Global Credit, touched on BitFinex and DAO incidents in his speech at the recent Capital Markets Blockchain Conference in London. The last month’s security breach at BitFinex had lost traders more than $60 million worth of Bitcoin. It sparked confusion and anger in a community which had already posed victim to many such hacking incidents in the past. Gavin Smith, the CEO of Bitcoin margin trading firm First Global Credit, touched on such incidents in his speech at the recent Capital Markets Blockchain Conference in London. But....
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Since the Bitfinex hack, bitcoin capital markets have shown resilience and pricing risk is more realistic, according to Gavin Smith, CEO of trading and financial services firm First Global Credit, who offered a positive assessment of the post-Bitfinex environment at the recent Capital Markets Blockchain Conference in London, reported Finance Magnates. Smith gave a summary on how his company and others have reacted to the Bitfinex hack. Market participants took collateral not required to fund existing hedge positions and put it in cold storage. Rates on BTC have since improved, but they are....
NewsBTC reporter Samuel Rae reached out to Gavin Smith, the CEO of First Global Credit. He spoke in details about the the potential of Bitcoin in finance market, and how his company is utilizing this new payment technology in traditional investment methods. Samuel Rae: First of all, tells little bit about what First Global Credit is all about. Gavin Smith: First Global Credit has been founded as a vehicle for people who believe that Bitcoin will increase significantly in value over of time. We allow these people to use their BTC as margin to either invest or day trade stocks, stock....
On August 2, 2016, it has been reported that the major cryptocurrency exchange, Bitfinex, was hacked with some customers losing Bitcoin as a result. Additionally, BitGo has commented on the event. The Breach of Bitfinex. Bitfinex itself confirmed the hack in a press release earlier today, saying they have halted all trading on the platform. Additionally, all deposits to and withdrawals from Bitfinex have been temporarily stopped. The exchange does not have much information about the hack, but the press release confirmed that customers of the exchange have lost Bitcoin following the breach.....
CoinTelegraph reached out to First Global Credit CEO, Gavin Smith, who recently contributed his own Op-Ed piece about Anonymity vs. Privacy, to get his thoughts on the advantages of trading with bitcoins, the future of the stock market in the age of the blockchain and the looming BTC regulations. CoinTelegraph: What do you see as the major advantages to investors being able trade global financial products using Bitcoin? Gavin Smith: Many holders of bitcoins believe that the currency will appreciate significantly over time and they don’t want to lose out on that growth. If you make it....
On Wednesday, after bitcoin prices touched a new all-time high, thousands of bitcoins from the August 2, 2016, Bitfinex hack were transferred to unknown wallets. The exact count of BTC moved from the hack is not entirely clear, but one blockchain parser shows that over 12,208 BTC from the 2016 Bitfinex breach worth $754 million today was moved to various addresses. On August 2, 2016, the exchange Bitfinex was hacked for approximately 119,756 BTC, which is worth $7.5 billion using today’s exchange rates. That day, the price per bitcoin (BTC) slid 22% but the exchange managed to pay....