Coinbase Generated $520 Million in Revenue Last Year, Reuters Estimates

Cryptocurrency exchange Coinbase brought in almost $520 million in global revenue in 2018, according to an estimate from Reuters. The news source based the figure on the exchange’s U.K. revenue, which grew 20 percent last year to 153 million euros ($173 million), according to a filing with the U.K.’s corporate registry. The British side of the business accounts for “almost a third” of the firm’s overall revenue, Coinbase U.K. CEO Zeeshan Feroz told Reuters. The filing further shows that Coinbase U.K. made a net profit of 6.6 million euros ($7.4 million)…

Gate.io Raises $64 Million for Launch of New Exchange Cryptocurrency

Crypto exchange Gate.io has raised $64 million worth of crypto assets in seven days for its own exchange cryptocurrency that won’t be launched on a blockchain for at least six months. One of the oldest Chinese exchanges, Gate.io claimed on Monday that over the last week it was heavily oversubscribed with orders totaling $2.99 billion for the so-called Gate Points, which can be used for offsetting trading fees on the platform. Moreover, each Gate Point further entitles a holder to receive 2.5 Gate Tokens (GT), the native cryptocurrency of Gatechain, the…

Chainalysis Caps Series B Funding With $6 Million From Two Japanese Heavyweights

United States-based blockchain intelligence firm Chainalysis has raised a further $6 million from two major Japanese investors, the company confirmed in a blog post on April 16. Chainalysis, which secured $30 million at the start of its Series B round in February, has hinted it will target the Japanese market in the future as it aims to ingratiate its compliance technology with banks and other financial institutions. Behind the latest cash injection were Mitsubishi UFJ Financial Group (MUFG) and venture capital firm Sozo Ventures, the former already notably active active…

ConsenSys Is Seeking $200 Million in New Funding: Report

ConsenSys is seeking a funding boost. Ethereum co-founder Joe Lubin’s Brooklyn-based venture studio is looking to raise $200 million from external investors, The Information reported Monday, at a valuation of $1 billion. The Information reports that ConsenSys is pitching Chinese investors with materials claiming the company aims to earn $50 million in revenue this year, primarily from contracts with enterprise and government clients. Last December, the Brazilian National Social Development Bank confirmed to CoinDesk it was in talks with ConsenSys. ConsenSys was previously supported by Lubin’s personal fortune and employed…

Bitcoin Below $1 Million is Mathematically Impossible by 2020

It is impossible for the bitcoin price to stay below $1 million by the year 2020, said John McAfee. The British-American cybersecurity expert cited basic mathematics as his single metric to justify his six-figure prediction for bitcoin. He stated that bitcoin’s behavioral economics was utterly different from that of stocks, adding that one could not apply stock paradigms and formulas to realize the coin’s future value. Come on people!!! It’s time to brush up your basic math skills and run some f*^#$ng numbers!!!! It is mathematically impossible for Bitcoin to…

Blockchain Startup ConsenSys Seeks $200 Million From Outside Investors

New York-based blockchain company ConsenSys is reportedly seeking investors to raise $200 million, technology media outlet The Information reported on April 15. According to sources familiar with the matter, ConsenSys is trying to attract outside investors to raise $200 million. The company’s executives reportedly talked to investors in Hong Kong and South Korea, however as of early April ConsenSys had purportedly not yet found a lead investor. The Information cited fundraising documents, revealing that ConsenSys closed 2018 with just $21 million in revenue coming mostly from its enterprise consulting business.…

Satoshi’s Treasure: The Chase Is on for a $1 Million Bitcoin Prize

A treasure hunt for $1 million worth of bitcoin is officially underway. In a cryptic, rambling message broadcasted to the Blockstream Satellite on April 13, 2019, an anonymous user challenged the rest of the Bitcoin community to a million dollar hunt for what they called “Satoshi’s Treasure,” a contest which will “test the resolve, courage, intelligence, and savvy [sic] of would-be hunters,” the game master claimed. At the current exchange rate, the contest’s award is roughly 198 BTC. “This message should reach you at the middle of the fourth month…

Bithumb Exchange Operator Gains $200 Million From Japanese Investment Fund

The parent company of major South Korean cryptocurrency exchange Bithumb has received $200 million in funding from Japan’s ST Blockchain Fund, the latter confirmed in a press release shared with Cointelegraph Japan on April 15. The cash, which forms part of a Series A funding round, will allow Blockchain Exchange Alliance (BXA) to expand the international side of Bithumb, which is already one of South Korea’s largest exchanges. New trading pairs will also appear, the press release notes. ST Blockchain Fund is based in Japan, but features participation from investors…

Bitcoin (BTC) Sentiment is Bullish But is $98 Million Even Possible?

Bitcoin prices trading above $5,000 as bulls reject lower lows A Bitcoin holder projects BTC to hit $98 million in 20 years Although prices are down, sliding from $5,500 after peaking mid this week, candlesticks, as well as fundamental factors, favor Bitcoin (BTC) bulls. One Twitter user projects BTC to hit $98 million in two decades. Bitcoin Price Analysis Fundamentals For speculators, everything is about price. Pricing dominate and with fluctuating crypto assets, traders have a home in crypto. Analysts have on numerous occasions aired their two cents. Most are…

Bitcoin SV Miners Saw Gross Losses of $2.2 Million Since Fork: BitMEX

A tweet published on April 12 by the research arm of major cryptocurrency derivatives platform BitMEX estimates that Bitcoin SV (BSV) miners have accumulated gross losses of $2.2 million. The report released by BitMEX Research claims that BSV miners perceived a negative gross profit margin of 12% since the coin was created in a hard fork that split Bitcoin Cash (BCH). The estimate is based on mined coin count, current coin prices and lower bound mining electricity costs. The tweet notes that, among costs, the estimate accounts for mining electricity…