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Coinbase Overshoots 2017 Revenue Goal By 66% Making $1 Bln, Rejects Further VC Funding

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Gareth Jenkinson Coinbase Overshoots 2017 Revenue Goal By 66% Making $1 Bln, Rejects Further VC Funding 13680 Total views 332 Total shares NEWS America’s largest cryptocurrency exchange  Coinbase  reportedly made $1 billion in revenue in 2017, overshooting its 2017 revenue forecast of $600 mln by 66 percent,  Recode reports , citing “industry sources.” According to Recode, despite the peaked interest of outside investors, the company remains private and does not allow stock to be traded on secondary markets. The platform was swamped by an influx of new users looking to set up trading accounts as Bitcoin entered a  massive bull run  in November, 2017. Following the announcement of Bitcoin futures launch early that month on CME, Coinbase saw  100,000 new users sign up in just 24 hours . Although Bitcoin’s long bull run ended in the  week leading up to Christmas , its rise to an all time  high of $20,000 ...
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Bitcoin Under Increasing Scrutiny on Island of Bali

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Bitcoin Under Increasing Scrutiny on Island of Bali NEWS Bitcoin is under heavy surveillance on Bali, an island in the  Indonesian  archipelago, according to  local reports . Central Bank officials are seeking to crack down on the use of the cryptocurrency anywhere in the nation. Causa Iman Karana, head of Bank Indonesia's representative office in Bali said: "We found out from some postings on social media that Bali appeared to have become a haven for Bitcoin transactions. The next step is we will ban them as mandated by the law. We ask them not to use it anymore. Along with the Directorate of Special Crime Investigation unit, we will enforce the rule that all transactions in Indonesia must use rupiah.” The country had previously been  reported as having significant local adoption  of Bitcoin usage, but recent reports indicate that the government is  trying to curtail the use of digital currencies . The risk of money laundering and criminal ac...
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Israeli PM: Bitcoin Could Replace Banks

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Israeli PM: Bitcoin Could Replace Banks 41730 Total views 1416 Total shares In a  video  published on Tuesday, Israeli Prime Minister (PM) Benjamin Netanyahu claimed that the operation of traditional banks will eventually  become obsolete  and could be replaced by  Bitcoin . He based his claim on the trustless nature of  Blockchain technology and on Bitcoin’s continuous,  notable growth  this year. In the video, Netanyahu stated confidently that banks will eventually become outmoded and be replaced, though when and by what exactly remains to be seen: “Is the fate of banks that they will eventually disappear? Yes. The answer is yes. Does it need to happen tomorrow? And do we need to do it through Bitcoin? That’s a question mark.” The head of the Israeli state also spoke about the role of banks, explaining that they were created and continue to exist to ensure that transactions between two parties are val...
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