Why Exodus disabled Bitcoin exchanges?

Exodus wallet temporarily suspended operations with Bitcoin due to the problems it experienced during past 72 hours
13 November 2017   1276

Exodus, the cryptocurrency and bitcoin wallet announced on November 11 that exchanges involving BTC would be temporarily disabled due to Bitcoin network congestion. It was stated that will be no opportunity to operate with Bitcoin until the network returns to normal.

Although the problem was promised to be dealt with by November 12, the Bitcoin trading pairs still remain disabled. Exodus claimed in the official twitter account that Bitcoin network fees are the highest they have ever seen and that a lot of transactions still need hours more to confirm. Regarding the exchanges failing at an unacceptable rate, exchange feature for Bitcoin trading pairs was decided to be suspended.

As far as the problem is still relevant, there was published a message to the community in Exodus account on Medium, where it was stated that the parabolic rise of Bitcoin Cash had a serious impact on the Bitcoin network and fewer miners on the Bitcoin blockchain made transactions more expensive.

This was a painful decision for us, as we were fully aware of the market situation; but at the same time, we couldn’t risk your funds getting stuck in the worst Bitcoin traffic jam. It’s worth noting the only income stream of Exodus is a small commission we get after ShapeShift exchanges, but we decided to prioritize user safety over commercial interest.
 

Exodus Team

Exodus team apologised for all inconveniences, promising to increase support efforts and reply with a solution to all users within 48 hours. They opened a direct channel to ShapeShift, and promised to deliver the funds back to the wallet as quickly as possible and to cover all related costs.

Moreover, Exodus pledged to add as many support engineers to their team as necessary, to improve the connection to ShapeShift, to work on integrating alternative exchange platforms, and to add a new feature which will warn users of “surge pricing” in case of similar network issues in the future.

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   137

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.
 

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.