Coinbase Raises $100 Million – August 10, 2017

Last week was an important event in Bitcoin’s history. The $2,900 resistance zone that remained untouched since the beginning of June was finally broken. Now that SegWit has finally locked-in, the price climb seems to have stalled. Bitcoin price continues to hover below $3500.

Since there have been no hiccups in the network for a week, it has made investors more confident in the cryptocurrency. Bitcoin Cash price, on the other hand, is showing no signs of influence on BTC price (for now).

If tensions between the US and North Korea keep escalating, Bitcoin price could see a sudden surge. Cryptocurrencies in general tend to do well during these situations as investors look for high returns outside of traditional markets.

Bitcoin price reached as high as $3456 on Thursday. BCH price also showed an upward trend by crossing the $300 mark.

Top Stories from the Crypto World

1. Coinbase raises $100 million in Series D funding

This is the single largest traditional funding round for a public blockchain or cryptocurrency startup. It brings the collective funding of Coinbase to more than $217 million.

Coinbase has facilitated almost $15B in digital currency exchange in just the first half of 2017 — five times more than that was exchanged in 2016. So much so that the exchange faced downtime on several occasions over the past few months due to “unprecedented volumes”.

With this pace Coinbase could see 10x increase in transaction volume next year. The startup is looking to use new funds to improve their customer support and add new cryptocurrencies when the market supports them.

2. Singapore Central Bank issues ICO Warning

Singapore has always been at the forefront of cryptocurrency regulations. The central bank on Wednesday issued warnings about the risks of initial coin offerings (ICOs).

A notice from the Monetary Authority of Singapore (MAS) advises prospective investors to investigate and understand the risks associated with buying into token sales. It also suggested that investors should deal only with firms licensed by the MAS itself.

3. Bitcoin for Jews is here

Believe it or not, but it’s true. Viacheslav Semenchuk, the man behind the idea, is going create this currency through a mainstream ICO.

The cryptocurrency is available for all to buy, it will be controlled by ‘Council of Six’ made up solely of Jewish representatives.