VC Funding Boosts Global Growth For Berlin-Based Bitcoin Startup – Forbes

From January to June 2008, Goldman set up a $1.3 billion investment in options contracts on Citigroup ( C ), UniCredit ( UCG:IM ), Banco Santander ( SAN ), Allianz ( ALV:GR ), Electricite de France ( EDF:FP ), Eni ( ENI:IM ), and a basket of currencies, based on the thesis that the assets would rise in value. They went down. By February 2010, the value of the Libyan investment was $25.1 million. Kabbaj and another Goldman employee traveled to Tripoli to explain the losses to Zarti, who cursed at and physically threatened the two men. The Goldman Sachs executives were terrified enough to request the protection of bodyguards until they could flee the country. In an apparent attempt to fix its relationship with Libyawhich, after all, had proven to be supremely profitableGoldman Sachs then offered to pay a $50 million fee to a Dutch fund called Palladyne International Asset Management, through which the LIA had already invested $300 million.

WASHINGTON: Digital currencies such as bitcoin carry ‘significant risks,’ feds warn | Economy | McClatchy DC

5, 2014. (Mitsu Yasukawa/The Record/MCT) MITSU YASUKAWA MCT WASHINGTON Government regulators issued a consumer advisory Monday on the risks of bitcoin and other digital currencies, warning that the virtual funds expose users to volatile exchange rates, hacking, scams and theft. Markups and transaction fees for digital funds such as bitcoin, XRP and Dogecoin can cost consumers more than using credit cards or regular cash, and the companies that issue digital currencies arent backed or insured by any government, according to the six-page alert from the Consumer Financial Protection Bureau, a federal watchdog agency.

GBI Secures Long Term Funding With Investment From New York Private Bank… — NEW YORK, Aug. 13, 2014 /PRNewswire/ —

PR Newswire Secondly, the timing has to be right. That is always difficult to assess, but it remains a significant factor in the investment decision. Thirdly, they need to believe that the start-up team have the skills and capability to fully exploit the market opportunity. Indeed, it was the Bitbond founding teams strong expertise in bitcoin, tech and finance that played a key role in Point Nine Capitals decision to make its first investment in a bitcoin startup, said the Berlin-based VCs founder and managing partner Pawel Chudzinski. Growing investor confidence in a sector that just a few months ago was reeling from the collapse of Japan-based bitcoin exchange Mt Gox may surprise many, but not the Bitbond founder. Albrecht says: There was huge disruption and of course people did lose money, but it is over, and contrary to what many people thought at the time, it has not deterred businesses from using bitcoin.

“I know nothing about investing.” Kalayjian and Ms. Collins represent two different sides of the great bull run on Wall Street ones that hold important implications for the finances and sociology of the nation. As the stock market rise enters its sixth year now becoming one of the longest bull markets in US history it is benefiting Americans unevenly. Coming as the rest of the economy has stagnated, the boom has bolstered the fortunes of wealthy investors like Kalayjian while many other people, like Collins, have garnered no rewards at all. To a large extent, this is the way it has always been on Wall Street. The rich, because they have money and access to savvy financial managers, can use the stock market as their own personal bank vault more than other people.

Wall Street: Whose bull market is it?

“The GBI family is excited by its partnership with NYPB&T,” said Steven Feldman, GBI’s co-founder and CEO. “The visionary thinking that Howard Milstein and New York Private Bank & Trust are known for will be a very valuable asset to GBI as it further expands its existing platforms and enables its sophisticated precious metals business to be utilized by far more market participants.” “We believe our relationship with GBI will enable our clients to have a robust opportunity to invest in gold and other precious metals that have been a store of value for thousands of years,” said Howard Milstein, New York Private Bank & Trust Chairman, President and CEO. “Gold is the ultimate store of value. As inflation, geopolitical and sovereign debt risks move to the forefront of investor minds, gold will become an effective hedging component in the portfolios of small and large investors alike.” Mr. Milstein added: “GBI provides the most cost effective and advanced trading platform for investors to purchase and store precious metals, given its ability to offer consumers transparent and razor-sharp pricing through unprecedented access to the largest network of dealers.” About GBI GBI (Gold Bullion International) is a leading institutional precious metals provider to individual investors and the wealth management industry. GBI’s technology and operations platform allows investors to acquire and manage their physical precious metals assets directly through GBI or through their existing wealth management account relationships.

BitPay Staffs Up In San Francisco With Visa, PayPal Alums

Steve Pratt , formerly of Visa, will become the companysdirector of business development. And Gregg Zigler, formerly of PayPal, will become a senior developer. In September 2013, BitPay had 10,000 merchants signed to its platform. It amped that figure thisyear.