What’s most noticeable in the process was the fact that the Belgian firm used cash and made the deal on October 25th, four days before sharing the full terms. The CEO then told Reuters that in 2016, Bitstamp was valued at $60 million which was up from $39 million in 2014.
NXMH is the name of the Belgian family investment holding firm. With more than 2 billion euros in assets under management, it makes European consumer and tech investments. According to its LinkedIn profile, the firm has a “focus on majority buy-outs” and is a subsidiary of the Korea-based media giant NXC Corp., which bought a 65.19% stake in the South Korean crypto exchange Korbit a year ago.
As Reuters reports, Bitstamp and Korbit will be operated independently. Currently, NXMH has a 80% stake in Bitstamp. The CEO of Bitstamp, Nejc Kordic, revealed that he will retain his 10% ownership interest and remain under the CEO position in the company.
The co-founder, Damian Merlak, has reportedly sold all of his 30% stake in the exchange in the NXMH deal. According to Kordic (the CEO), Merlak has “not been active since 2015” but worked alongside with him to found the exchange “out of a garage in Slovenia” with several laptops, one server as well as thousand euros in funds.
Line Messenger And Its Plans To Launch An Exchange For 80 Million Users
"LINE has built its reputation on providing a great social experience for our users, and now we intend to bring that know-how to the world of digital tokens with our BITBOX exchange. With BITBOX, we intend to have an exchange that is easier to use, while also ensuring we provide extremely strong levels of security."As he also mentioned, BitMax will use the exact same technology that is used in BITBOX. His statement made the latest cryptocurrency news now that Line is expected to obtain a license and operate BitMax in Japan in the near term. The launch of a crypto exchange by Line Messenger, which is a major tech giant in Japan, definitely restores a lot of confidence - especially by local investors and users following the high profile security breaches and the names associated with them (Coincheck and Zaif). Native exchanges may definitely be the future of a new crypto revolution - and Line Messenger could definitely be pioneering it.
Bitcoin YTD Gains At 151% So Far, New Increases Are Likely
“The launch of Facebook’s cryptocurrency will go down in history as the catalyst that propelled digital assets (including bitcoin) to mass global consumer adoption. Will be remembered as just as important — and transformative — as the launch of the Netscape browser. Buckle up.”Another crypto trader and real estate developer known as Satoshi Flipper noted that Libra will not replace Bitcoin nor compete against it in the same market.
"Once Libra goes live, nobody outside of the Facebook platform will care much for it. It’s another stable coin and it’s not replacing BTC. It will work in a centralized ecosystem. But it will bring awareness to BTC and altcoins. And I’m excited about the network effect it will have," he said.One of the Winklevoss twins, Tyler Winklevoss, has also predicted a Bitcoin YTD gains, stating the possibility for Bitcoin to break through even more in the near future. https://twitter.com/tylerwinklevoss/status/1141387824379441152 His statement went viral on many best cryptocurrency news sites.
QuadrigaCX Co-Founder Used User Deposits For His Own Trading
“Significant volumes of Cryptocurrency were transferred off Platform outside Quadriga to competitor exchanges into personal accounts controlled by Mr. Cotten. It appears that User Cryptocurrency was traded on these exchanges and in some circumstances used as security for a margin trading account established by Mr. Cotten.”In addition to this, the coming altcoin news show that QuadrigaCX co-founder Cotton apparently created fake "identified" accounts on the exchange under multiple aliases “into which unsupported Deposits were deposited and used to trade within the platform.” This, as EY noted, led to “inflated revenue figures, artificial trades with Users and ultimately the withdrawal of Cryptocurrency deposited by Users.” In his trading on the competitor exchanges, EY noted that the QuadrigaCX co-founder incurred trading losses and incremental fees that affected Quadriga's cryptocurrency reserves. The report also cites EY saying that it has been unable to confirm the identity of wallet holders to which substantial sums of crypto were transferred. As of the filing date, around 76,000 users are owed a combination of fiat and crypto by Quadriga, at an aggregate value of around $214.6 Canadian dollars (equivalent to $162.2 million in USD).
Analysts Believe BTC Will Hit $62K By The End Of Year
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