Buffett’s Company to Invest in Fintech

Brazilian payment service StoneCo Ltd. and Paytm from India receive about $600M in total from Buffett's Berkshire Hathaway
30 October 2018   612

Berkshire Hathaway, headed by bitcoin's implacable bitcoin critic Warren Buffett, invested in fintech start-ups for a first time, The Wall Street Journal reports.

Previously, the famous conglomerate bought mostly "blue chips" of American companies. However, according to the publication, over the past few months, about $ 600 million have been received by two financial companies specializing in fintech markets - Brazilian payment service StoneCo Ltd. and FINTECH Startup Paytm from India.

Investment rounds were led bby portfolio investors of Berkshire Hathaway Todd Combs and Ted Wexler. According to David Smith Kass, a professor at the Robert Smith School of Business, it is no longer possible to ignore the pace of development of Fintech, and Combs and Wexler “expand Berkshire’s prospects and opportunities for the company's investors.”

Earlier, Warren Buffett called Bitcoin “rat poison squared,” and also stated that the purchase of cryptocurrency is not an investment.

Bitfinex to List BCH' Chain Split Tokens

Bitfinex warned that support for BAB and BSV could be temporary
14 November 2018   56

The Hong Kong cryptocurrency exchange Bitfinex has listed the so-called Chain Split tokens for the two implementations of the Bitcoin Cash protocol. Bitcoin Cash hardfork is planned on 15th of November.

BAB [Bitcoin ABC client] and BSV [Bitcoin SV client] tokens will be traded in pairs with Bitcoin and the US dollar. The Token Manager tool will allow users to convert their Bitcoin Cash into one of the tokens. This process is reversible, Bitfinex emphasized. At the same time, marginal trade in tokens will be unavailable.

After snapshot of the network, the corresponding coins will be automatically converted into BAB and BSV onchain tokens, and all current Bitcoin Cash holders will receive an equivalent number of coins. However, if the user has a short BCH position at the time of the snapshot, the margin will be canceled, and the borrower, if he does not have enough tokens, will have to cover the negative balance sheets until December 31.

Bitfinex also warned that support for BAB and BSV could be temporary, and that as soon as all negative balances were covered, the exchange could delist them, allowing limited time for withdrawal.