Riot Blockchain Won 500 Bitcoins in U.S. Marshals Auction

The U.S. government held an auction of about 3,813 bitcoins on January 22
24 January 2018   1557

Riot Blockchain Inc. won 500 bitcoins in an auction of property seized by the U.S. Marshals Service. This is reported by Bloomberg.

The U.S. government held an auction of about 3,813 bitcoins that were seized in federal criminal, civil and administrative cases on January 22. Participants had to stump up a $200,000 deposit to take part, and bids were made in cash in U.S. dollars.

Riot, which invests in cryptocurrency and blockchain startups, sought many more of the 3,813 Bitcoins in the auction Monday but was outbid, Chief Executive Officer John O’Rourke said. The company acquired the Bitcoins at about the market price at the time. That works out to about $5.2 million, based on Monday’s closing price of $10,354.

I believe we’ll be heading north of $50,000 market price within the next 12 to 18 months. Our strategy at Riot is to accumulate Bitcoin and to provide our investors as much direct exposure as we can, hence we decided to participate in the auction.

 

John O’Rourke

Chief Executive Officer, Riot Blockchain Inc

The auction, the sixth by the Department of Justice, attracted 62 registered bidders and received 111 bids, the Marshals Service said Tuesday in a statement. The agency doesn’t announce names of auction winners or the total amount raised.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   125

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 
 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.