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The future of custody is a race to zero fees, says BitGo’s CEO. Here’s why.

If there’s anyone who knows a thing or two about crypto custody, it’s Mike Belshe – CEO of BitGo, one of the ecosystem’s biggest custodians.  But of late, Belshe has been reflecting on where the industry is headed amid increasing saturation and ever-diminishing fees (and returns). The basic rules of economics state that competition (and increased supply) brings lower pricing. Yet some experts – including Belshe – say fees for custody won’t just fall, but actually crash to zero. To be fair, zero-fees in custody isn’t such an alien prospect; Xapo already offers free storage for its customers’ $5.5 billion of cryptocurrency. Join Genesis now and continue reading, The future of custody is a race to zero fees, says BitGo’s CEO. Here’s why.!
The Block Crypto

Blockchain Capital onboards BitGo co-founder and Facebook veteran as its venture partner

Blockchain Capital now counts Facebook veteran and crypto entrepreneur Ben Davenport as its venture partner, firm partner Spencer Bogart told The Block. Davenport is a two-time founder and crypto investor. His first company, messaging service Beluga, was acquired by Facebook in 2011 and later became Facebook Messenger. The entrepreneur then spent three years at the social media company before jumping into the crypto world, having co-founded BitGo, a crypto custody firm. In 2018, Davenport left his post as CTO of BitGo and became the firm’s advisor. Meanwhile, he also invested in a number of crypto startups including Nomics, Lightning Labs, Kraken and Xapo, according to AngelList. According to Bogart, Davenport will work with Blockchain Capital's investment team on sourcing deals and evaluating investment opportunities.  “He will be working directly with the research and investments team to source opportunities, assist with due diligence, deploy capital and support companies in the Blockchain Capital portfolio,” said Bogart. “Ben brings his deep technical and industry knowledge as well as his experience as a two-time entrepreneur and long-time investor.” As one of the leading VC firms in the blockchain space, Blockchain Capital has a grip over a wide array of crypto projects and companies, including Circle, Messari, Bitwise, and Coinbase. It is also an investor in BitGo, which was how Davenport first got into contact with Blockchain Capital. “As a firm, we've been working with Ben since our 2014 investment in BitGo and have always had tremendous respect for his technical prowess, leadership skills, and investing acumen,” said Bogart.
The Block Crypto

Blockchain Capital Welcomes New Venture Partner With Strong Ties To BitGo And Facebook

BitGo And Facebook Executive Joins Blockchain Capital Ben Davenport, known for his experience as the creator of BitGo and for his time on Facebook, has decided to join Blockchain Capital, according to CoinDesk. He will be joining as the new venture partner of the company. The executive is known for working in crypto projects, such […]
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Why Do We Need to Wrap Bitcoin?

BitGo, Kyber Network, MakerDAO, IDEX and many other crypto companies partnered to create a Bitcoin-backed Ethereum token, Wrapped Bitcoin. This token will represent BTC, 1 token equal to 1 BTC stored in the custody of BitGo. It could be used to trade BTC on DEXes, the whole administration will be via DAO, similar to Maker system

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Boost VC to invest in 100 crypto startups, receives $30M, Medici Ventures invests in Minds Inc, Elixxir receives seed investments, Vertex Ventures invests in Binance, Checkmate Capital invests in Bcause, Global Brian supports Omise, Cobo Crypto Wallet raises $13M, $15M for BitGo, TEMCO partners Foundation X, Animoca Brands teams up startups, Silver Cost Basis partners Voyager Digital, 3 strategies for crypto investors, ideas on where to invest, blockchain and crypto investments will grow

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Digital tokens resurrect with value addition after crypto winter

According to OnChainFX, the top 1o legitimate exchanges deliver the trading volume for measuring the real trading volume of the digital assets. Data collected from the LONG HASH website revealed that the majority of tokens had declined to half of their value since attaining the ATH. The most shocking results came out for ETHLend, based on the Ethereum blockchain that used the digital tokens in the form of collateral for transactions. LONG HASH quoted that ETHLend offered a decentralized peer-to-peer smart contract lending in the crypto-ecosystem. The ETH-based token was trending as the investors were constantly using ETH for transactions, which led to its surge before the bear attacks on the market. Tokens such as Holo and Ravencoin maintained their value equivalent to 50% of their ATH as they were initiated after the 2017 bull run. It came as a surprise for crypto users after tokens like Binance Coin and ChainLink underwent resurgence to achieve their ATH, that was higher than the previous ATH mark. Source: LONG HASH As per the graph, tokens achieved their ATHs from December 2017 to January 2018 and then plummeted. Many of the investors missed out on this bull rush in the crypto market. As the market conditions did not remain the same for a longer duration, tokens slipped into the phase, commonly known as the crypto winter, among the digital asset enthusiasts. LONG HASH shared growth rate of ChainLink and tweeted, “Chainlink (LINK) is having a pretty good day”. Some tokens like BNB and LINK have been performing well and the community can take comfort from this. The post Digital tokens resurrect with value addition after crypto winter appeared first on AMBCrypto.

Stellerro is set to issue tokenized equity through Spanish-regulated Security Token Offering (STO); Public sale opens June 17th

TEL AVIV, Israel, June 17th, 2019– Stellerro, an alternative investment banking platform, automated, in-scale, determined to bring liquidity to the digital era will launch its STO on Monday, June 17th, 2019 at noon ET. Stellerro, a Spanish-Israeli based alternative investment banking platform is pleased to announce the launch of its new Security Token Offering public sale. Self-founded in mid-2018 by an experienced group of entrepreneurs from the Israeli capital markets & fintech industries, all are Blockchain veterans: Aviad Gindi – CEO, Dror Medalion – GM, Elad Kofman -CSO, Noam Barnea -CTO & Liron Rose – Advisory lead. Stellerro was created to assist asset owners, funds, entrepreneurs & startups in taking part in an alternative method of fundraising. Stellerro believes that as the blockchain ecosystem matures, digital offerings will become easier to access and invest in. The ever-advancing secured technology, transparent approach, the inclusion of new financial titans and a strong blockchain congregation are all unified to create the most important thing Investors seek for — Liquidation & Tradability. Stellerro’s funding goal is €5 Million which it plans to utilize for R&D and business development expansion. The company is expected to generate revenue for investors starting Q4 2019, based on its financial projections. The public offering starts on June 17th, 2019 and will last for 2 months until August 16th, 2019. STRO tokens will grant the investors economic rights and dividend from the firm quarterly revenues. To ensure a fully regulated environment, investors will go through KYC & AML procedures in order to acquire STRO security tokens.  Join the public sale today at or contact the team for any inquiry at:   Stay tuned for more: Site · Facebook · Twitter · Linkedin · Instagram · Reddit · Telegram The post Stellerro is set to issue tokenized equity through Spanish-regulated Security Token Offering (STO); Public sale opens June 17th appeared first on ZyCrypto.

Facebook to Unveil ‘Libra Association’ and Launch Testnet Next Week: Report

Facebook to Unveil ‘Libra Association’ and Launch Testnet Next Week: Report Social media giant Facebook will unveil the Libra Association, which will operate its bespoke cryptocurrency Libra, on June 18, cryptocurrency news outlet The Block reported on June 14. Per the report, Facebook and dozens of its partners will unveil the Libra Association — which […] Cet article Facebook to Unveil ‘Libra Association’ and Launch Testnet Next Week: Report est apparu en premier sur Bitcoin Central.
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