Investor James Altucher to launch cryptocurrency exchange

American hedge fund manager James Altucher plans to raise funds to launch a digital asset trading platform
07 January 2018   943

James Altucher is an American Wall Street investor, hedge fund manager, entrepreneur, best-selling author, venture capitalist, and podcaster, who has founded or co-founded more than 20 companies. He is widely promoting the idea of Bitcoin stating that the future belongs to cryptocurrency and blockchain.

And ALL of logistics will be replaced by Bitcoin (e.g. UPS is replacing all of their internal logistics (tracking millions of packages every day going from millions of locations to millions of other locations) by Bitcoin technology. There’s nothing behind paper money or gold like this.

James Altucher blog post

In the beginning of January of 2018 it was revealed in a U.S. Securities and Exchange Commission filing that Altucher is backing a company called Bitzumi, Inc., which plans to launch a Bitcoin exchange, and Altucher and his colleagues plan to raise $10M to start a crypto trading platform.

Initially, our primary focus will be to develop a publishing and marketing company to educate potential Bitzumi exchange/wallet consumers, and to gain name recognition — Ultimately, we intend for our primary product to be our cryptocurrency exchange and digital storage — We also plan to develop various educational and information products and newsletters focusing on the cryptocurrency industry.

U.S. Securities and Exchange Commission filing

As it is stated in the filing, BTC, LTC, Ripple and ETH trading will be initially available on Bitzumi, and the exchange will be fully regulated working with U.S. officials from Fincen, SEC, CFTC, and the IRS.

Bitfinex to Launch New Improved Fiat Deposit System

New system of deposists supports 4 popular currencies and requires KYC procedure completion
17 October 2018   114

Bitfinex Cryptocurrency Exchange has introduced a new system for fiat currencies deposits: the US dollar (USD), the British pound (GBP), the Japanese yen (JPY) and the euro (EUR). Now, the users who have completed the KYC procedure will create an application, indicating the deposit amount and currency, and the platform representatives will consider it within 48 hours.

Then, if approved, users will be sent the recipient's bank data, and the deposit itself will be credited to the account within 6-10 business days.

In this case, the minimum threshold of $ 10,000 was not abolished.

Earlier, Bitfinex had an anomalous growth of Bitcoin to the level of $ 7,788, which was associated with the possible collapse of Tether.

Nevertheless, the USDT price also stabilized, and representatives of the issuer said that the tokens were fully secured.