A Big Four Audit Firm Lost $1 Million In Bitcoin. Victims Are Losing Patience

The Takeaway: QuadrigaCX’s former users are running out of patience with Miller Thomson and EY, the court-appointed companies tasked with recovering their missing funds. The users want more transparency into EY’s investigation of Quadriga’s missing funds, as well as a better understanding of how the audit firm accidentally lost 103 bitcoin (now worth over $1 million) earlier this year. Some users are contemplating finding new legal representation due to their frustrations with Miller Thomson. Former QuadrigaCX users are losing patience with their court-appointed lawyers and looking for answers about how…

Blockchain Firm Findora Hires Former Coinbase CTO as Strategic Advisor

Finance infrastructure-focused blockchain project Findora has appointed the former chief technology officer of major American cryptocurrency exchange Coinbase as a strategic advisor. As fintech media outlet Fintech Finance reported on Aug. 14, Balaji Srinivasan joined Findora after serving as a general partner at venture capital firm Andreessen Horowitz, and co-founder and CEO of blockchain-powered paid messaging service Earn.com.  Apart from Srinivasan, Findora has also hired Dan Boneh, head of Stanford University’s Cryptography Group, to the same position. Commenting on the appointment, Findora CEO Charles Lu reportedly said: “We are excited…

New England Firm Settles with SEC Over Allegedly Unregistered $6.3M ICO

A New England-based firm has settled with the United States Securities and Exchange Commission (SEC) over an allegedly unregistered $6.3 million initial coin offering (ICO). According to an SEC announcement published on Aug. 12, SimplyVital Health, Inc. announced plans to conduct an ICO in order to secure funds for a healthcare-related blockchain ecosystem dubbed Health Nexus in 2017. The company offered a native token for Health Nexus called Health Cash (HLTH). The company purportedly announced a pre-sale of HLTH tokens under Simple Agreements for Future Tokens (SAFTs) that were set…

BitMart Announces Investment From China-Based VC Firm Fenbushi Capital

Digital assets trading platform BitMart has reportedly secured “millions of investment” from Chinese blockchain-focused venture capital firm Fenbushi Capital. BitMart announced the news on Aug. 7. To bring transparency to the global economy With the investment, BitMart has joined over 50 international blockchain projects Fenbushi has invested in, aiming to achieve more transparency and efficiency in the global economy. Sheldon Xia, founder and CEO of BitMart, said: “The strategic collaboration with Fenbushi Capital and Bitrise Capital will undoubtedly help to establish a more open and transparent capital raising ecosystem for…

BlockFi Raises Over $18M in a Round Led by PayPal Co-Founders’ VC Firm

American cryptocurrency lender BlockFi has secured $18.3 million in a funding round led by Valar Ventures. The Series A funding round saw participation from a number of crypto-focused investors, including Winklevoss Capital and Galaxy Digital, according to a press release shared with Cointelegraph on Aug. 6. Other investors included ConsenSys Ventures, Akuna Capital, Avon Ventures, Susquehanna, CMT Digital, Morgan Creek and PJC. Valar, founded by PayPal co-founder Peter Thiel, makes its first crypto investment Per the report, Valar, which led the BlockFi’s new funding round, has made its first investment…

Co-Founder Sues Israeli Blockchain Firm for Breach of Contract

Co-founders of Israeli blockchain firm Orbs are being sued by former partner Elad Arad following the dissolution of his shares in a failed joint venture, Cointree Capital. According to Israeli business media Globes, Arad is suing partners and brothers Uriel and Daniel Peled, Orbs, Cointree Management Microverse, Hexa Labs, and Hexa Solutions following a failed 18-month mediation in a Tel Aviv court. Arad claims the brothers committed “conspiracy, deceit and serious fraud, as well as unlawful enrichment.” The official report accuses the brothers of breach of fiduciary duty, oppression of a…

NBA Partners With Firm Behind CryptoKitties for Crypto Collectible Game

The United States National Basketball Association (NBA) and its affiliated union — the National Basketball Players Association (NBPA) — have partnered with Dapper Labs of CryptoKitties-fame to release a new crypto collectibles game. According to an official announcement on the NBPA website, the upcoming game is scheduled to launch in early 2020. The game, called NBA Top Shot, will be a roster-building competitive game that is based on crypto collectibles. According to the announcement, fans will be able to gather live footage of NBA games that can then be used…

Canadian Judge Approves $1.6M in EY, Legal Firm Fees in QuadrigaCX Case

The Supreme Court of Nova Scotia, Canada, has approved over $1.6 million in fees for parties seeking funds from former Canadian cryptocurrency exchange QuadrigaCX, according to recently released court documents. Justice Darlene Jamieson ordered to approve the activities, fees and disbursements incurred by the Monitor — Big Four audit firm EY — in the ongoing proceedings of QuadrigaCX.  The exchange ostensibly lost access to its cold wallet holdings following the death of its founder, Gerald Cotten, in December 2018, and now owes over $198.4 million to an estimated 115,000 users.…

US Firm Launches Hedge Fund With Holdings in Coinbase, Bakkt

The investment firm US Capital Global announced it will add a tokenized venture fund with holdings in Coinbase, Bakkt, Nomics, and Tagomi in its portfolio. Accredited investors will be able to place a $10 million equity stakes in the NYCQ Fund, designed by the venture capital firm CityBlock Capital, to increase their crypto leverage, according to a statement. The fund does not hold investments in cryptocurrencies, but stakes equity investments in the crypto startups. It is overseen and developed by former SoftBank Capital, Goldman Sachs, Wells Fargo, and Google employees.…

EU Exchange Bitstamp Partners with UK Firm to Offer Pound Sterling Onramp

Major European crypto exchange Bitstamp has partnered with digital asset brokerage BCB Group to enable direct transfers in British pounds sterling (GBP). A press release shared with Cointelegraph on July 29 revealed that following the new partnership, by the end of this year United Kingdom-based investors will be able to make GBP withdrawals and deposits directly to and from their Bitstamp accounts. In a statement, BCB Group founder and CEO Oliver von Landsberg-Sadie said that the partnership aligns with the company’s broader aim of providing robust and frictionless services infrastructure…