Coinbase Custody to Power $500 Million Fund Launched by Wilshire PhoenixBTC Casino / 2nd November 2018
Coinbase remains one of the most successful cryptocurrency companies in the world. Their trading platform is of increasing interest to speculators and enthusiasts alike. Together with Wilshire Phoenix, the company is now launching a new $500m fund. The quest to gain traction among institutional clients is still ongoing.
Swedish Crypto Trader Taxed for 300% of His Total Profits by the STA
Thursday January 24, 2019
There’s something plain wrong when governments tax citizens beyond restriction. A Swedish crypto trader found a government check for almost $1 million from the country’s tax agency. Linus Dunker claimed […]
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Wilshire Phoenix and Coinbase Team Up
Several months ago, Coinbase made its future intentions clear for everyone to see. Pursuing traction among institutional investors is a major struggle. The firm even launched its own Custody service in an effort to make a meaningful impact. That was, by the look of things, only the first step along the way for this cryptocurrency company.
A new partnership with Wilshire Phoenix is designed to take things to a whole new level. Bringing Coinbase Custody to a new $500m fund is a major step in the right direction. This new fund will provide exposure to Bitcoin first and foremost. There is no indication any of the top alternative cryptocurrencies will be supported.
This new fund makes it easier for institutional traders to gain exposure to Bitcoin. Both accredited investors and financial institutions are among the target group for Wilshire Phoenix. There will be no futures contracts or derivatives as part of this new service. Instead, it makes use of a patent-pending method to mitigate risk. Bitcoin remains a volatile asset first and foremost.
BitMex Insurance Fund Can Finance 51% Attack on Bitcoin Cash For a Year
Thursday January 24, 2019
Hong Kong-based trading platform BitMEX owns so much Bitcoin that it could launch multiple 51 percent attacks against some altcoins for months. Bitcoin Insurance Fund Worth $76 Million Those were […]
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Another Institutional-oriented Effort
This news comes at an interesting time. Bitcoin recently celebrated its 10th anniversary, a major milestone for the world’s leading cryptocurrency. It appears as if Bitcoin has now grown up and is ready to explore new horizons. Gaining traction among institutional traders remains one of the key options being explored. Wilshire Phoenix Founder Bill Hermann explains this partnership:
Coinbase Custody provides Wilshire Phoenix a best in class platform on which to securely store digital assets. They are steadfast in their commitment to implementing and executing solutions for institutional clients as opposed to merely talking about their future plans to do so. We are excited to have Coinbase in our corner and we look forward to our continued partnership in the months and years to come.
For Coinbase, this new partnership highlights strategic market opportunities. Its custody service recently received NYDFS approval. This decision allows the company to offer custody services for all of the top cryptocurrencies and digital assets. That list includes Bitcoin, Ethereum, Litecoin, and XRP, among others.
Do you think that Coinbase and Wilshire Phoenix’s new fund will help bring the much-coveted institutional investors into the crypto space? Let us know in the comments below.
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Binance Launches Platform in Uganda and Changpeng Zhao Donates $500k to Charities
Friday October 26, 2018
Binance has decided to expand its trading platform to the African continent. This time, the selected country has been Uganda. It will be possible for users in the country to […]
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