Good Money Bank to Raise $30M

Funds were raised during series A financing round with help of Galaxy Capital; project has interesting concept
11 December 2018   596

Los Angeles-based cryptocurrency startup Good Money announced the closure of a round of funding for Series A, in which it raised $ 30 million.

The round led Mike Novogratz' cryptobank Galaxy Digital through his Galaxy EOS VC Fund.

Other investors in the project were venture capital funds Breyer Capital, Blocktower Capital, Boost VC, Blockchange Ventures, Cross Culture Capital, as well as a number of individual investors.

Good Money calls itself the world's first digital banking platform owned by its customers and aims to democratize the banking industry, using the profits to change the world for the better.

In particular, the startup plans to act as a bank, each client of which owns a certain number of securities. Good Money plans to deploy a network of commission-free ATMs throughout the United States, as well as offering zero overdraft fees and deposits insured by the Federal Deposit Insurance Corporation (FDIC) at 2% per annum.

Fully functioning application, through which the platform will operate, the company plans to release in 2019. The application will support a mobile cryptocurrency wallet, offering additional incentives for attracting friends and direct deposits.

In addition, representatives of a startup say, 50% of all profits will be directed to projects aimed at eliminating social and economic inequalities, protecting the environment, renewable energy sources and philanthropy.

BTC Invesment Profitability to Exceed Traditional Assets

This conclusion was made by Binance Research team in study "What Bear Market?"; since begining of the year the BTC has grown by more than 50%, while oil by 33%
08 May 2019   320

Since the beginning of the year, Bitcoin has grown faster than traditional market assets, including oil, technology companies, real estate and gold. This conclusion was made by Binance Research in the new study "What Bear Market?"

Since the beginning of the year, the price of Bitcoin has grown by more than 50%, while oil - by 33%, tech stocks - by 18%. The price of gold in five months slipped by 1%.

Recently, however, some factors have emerged that may put pressure on the price of Bitcoin. Thus, the recovery of BTC growth slowed down somewhat amid news of a hacker attack on the popular Binance exchange itself, as a result of which 7,000 BTC ($ 40.5 million) were stolen.

Another potentially negative factor for the price of Bitcoin could be the upcoming IEO of the Bitfinex exchange, where Tether stablecoins will be used to purchase LEO tokens for $ 1 billion. It can lead to situation when large players can may actively sell BTC.