Crypto Exchange Coinsquare Raised $30 Million Investment

The leading Canadian cryptocurrency exchange announced that it has raised $30 million in new equity financing
09 February 2018   979

The funding was led by Canaccord Genuity Corp, financial services firm. In four months crypto exchange has raised a total of $47.3 million, with equity valuations increasing from $30 million to $430 million. According to Coinsquare, the funding will be used to fuel a global growth plan and diversification strategy focused on making the platform even more responsive to mainstream customers' needs.

The company is going to hire at least 100 employees in the next few months. Coinsquare needs collaborative self-starters who want to set the bar for financial services in the 21st century. By the second quarter of this year, Coinsquare will have 200 employees working for the exchange.

According to recent reports, Coinsquare is targeting at about $150 million ($120 million) in an initial public offering in September 2018 to help finance an overseas expansion.

The company’s expansion plans also include a strategic investment in existing digital currency mining operations, including its own; the launch of CoinCap Funds, a group of funds focused on investments across the digital asset landscape; and a planned Trading and Arbitrage division.

SEC to Start VanEck-SolidX BTC-ETF Consideration

Starting today, the 45-day countdown to the SEC initial decision was launched
20 February 2019   98

For the first time since August of last year, two proposals on the creation of a Bitcoin-ETF are under consideration by the US Securities and Exchange Commission (SEC).

The application of VanEck and SolidX, issued in cooperation with the Cboe BZX exchange, as expected, was included in the Federal Register issue this Wednesday, with which the 45-day countdown to the SEC initial decision was launched. The application of Bitwise Asset Management and NYSE Arca was published last week.

I … hope that our investment in regulatory and market education, hard work and commitment will be honored when the time comes.
 

Gabor Gurbacs

Director of digital asset strategy, VanEck

The head of Bitwise’s research department, Matt Hogan, believes that not only firms that have submitted bids to create Bitcoin-ETFs are looking for approvals, but and the entire “extremely fast-growing” crypto industry.

A year ago there was maybe one qualified crypto custodian … and now there are half-a-dozen, and that number will go up from here. A little more than year ago, we didn’t have futures. A year ago we didn’t have nearly as many firms making markets. A few months ago, you didn’t have folks like Fidelity announced in the space. It’s evolving really, really quickly.
 

Matt Hougan

Global head of research, Bitwise

 As reported, ultimately, however, a bitcoin ETF approval will depend on how companies approach their proposals.