The Singapore-based exchange KuCoin is in our latest cryptocurrency news – this time for securing a $20 million investment in a funding round that was led by the $20 billion venture capital firm IDG.
A lot of people are asking themselves whether this investment would make KuCoin a decent player and a legit exchange from where more and more people will buy Bitcoin and other altcoins. The CEO of KuCoin, Michael Gan, expressed his excitement following the funding, writing:
“We are extremely excited and appreciative for the opportunity to be partnered with such highly respected investors. It is not only an endorsement of our achievements so far, but also a chance for KuCoin to achieve further success in the future.”
Some of the prominent investors which took part in the funding included IDG Capital, Matrix Partners and NEO Global Capital. According to Gan, this investment will allow KuCoin to continue to grow rapidly in the years to come.
Many are still raising suspiciousness about KuCoin mostly because of the August report by Jackson Wong, a Hong Kong-based journalist, in which he said that the Hong Kong offices of KuCoin are empty and that the listed address on the website had not been occupied by the exchange for at least two years.
KuCoin then officially responded to Wong, explaining that they operate several subsidiaries in many countries such as Hong Kong, the Philippines, China, Thailand – and have more than 300 employees.
With the newly obtained capital, KuCoin is about to release a new version of the platform called KuCoin 2.0 and with that expand its operations throughout Asia and other growing markets.
Coinbase Adds PayPal Withdrawals To Its Platform (For U.S. Citizens)
“There is new technical work to make this possible, and that was done in conjunction with PayPal.”However, this Friday Osgood wrote that the partnership provides Coinbase customers an alternative to the traditional federal wire or automated clearing house (ACH) network that they were required to use. As he said:
“These traditional finance networks can add up to two business days to a withdrawal. We’re always looking for ways to not only meet the bar set by traditional finance, but raise it. That’s why we rebuilt our integration to ensure that the speed and reliability of PayPal withdrawals does just that.”The service is for now only available to customers in the United States, but could continue to be added to other nations across 2019, as Osgood wrote.
Bitcoin Plunges To A Yearly Low, Market Is ‘Prepared’ To Go Below $100 Billion
“As BTC is approaching the target of the 2014 fractal the targets of most people change from 3k to 1k and even lower. I still think $2,700 is an excellent place to buy if we should go there. ‘History doesn’t repeat itself but it often rhymes.’”Currently, there is a big risk in shorting and longing Bitcoin and other major cryptocurrencies in the market, which is why investors are observing the short-term trend of the crypto market by holding out on their trading activity.
TRON’s DApp Usage Jumps 48% To +1 Million Transactions Last Week
“This week, the 24-hour transaction number for Dapps reached 1.04M, a 48% increase compared with last week; the 24-hour trading volume hit 640M TRX, an 151% increase compared with last week. We have seen significant increases in both indexes […]”One of the most interesting projects built on Tron is Seedit which is a decentralized platform that lets users contribute funds to the content creators that they most appreciate. Project Atlas is also a well-known project which incentivizes people to seed content on the BitTorrent protocol, which was acquired by Tron back in July this year.
Bitcoin Cash Drops Again By 15 Percent While Other Cryptocurrencies Take A Stronger Hit
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