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Video: Roundup of This Week’s Bitcoin News 9th May 2014
Some good news from the US, bad news from China. See what happened in the bitcoin world this week.
By Roop Gill
Updated Sep 11, 2021, 10:44 a.m. Published May 9, 2014, 5:16 p.m.
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Some good news from America, and (unsurprisingly) some more bad news from China. Find out what's happened in the world of digital currencies this past week.
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BitPay plans to display prices in bits: The Georgia-based merchant processor BitPay has announced plans to display BTC prices in bits. The company's move follows a community discussion about bitcoin's current denominations being too complex for mainstream users.
Vaurum raises $4m in seed funding: Bitcoin trading platform Vaurum has raised $4m in funding from a group of investors including former AOL CEO Steve Case and venture capitalist Tim Draper. The California-based company offers financial institutions a way to trade and store bitcoins.
FEC approves bitcoin donations for political parties: The US Federal Exchange Commission has approved bitcoin donations for political campaigns. The FEC unanimously decided that political campaigns and political action committees can accept bitcoin as a form of in-kind donation. Congressman Jared Polis became one of the first to set up bitcoin donations for his re-election campaign.
Bitcoin versus China continues: This week BTC China halted RMB deposits from the Bank of China, CEOs of five major Chinese bitcoin exchanges withdrew from the Global Bitcoin Summit in Beijing, and Huobi is considering a future as a bitcoin marketplace.
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Have a good weekend and catch us next week at the Bitcoin 2014 conference in Amsterdam.
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Proposed ‘AfterDark’ Bitcoin ETF Would Skip U.S. Trading Hours
The fund would hold bitcoin only overnight, betting on data showing bitcon gains mostly occur outside regular market hours.
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- Nicholas Financial has filed with the SEC to launch a bitcoin ETF that holds BTC only during overnight hours.
- The “AfterDark” ETF buys bitcoin after U.S. stocks close for the day and then sells bitcoin and shifts into Treasuries during the American session.
- Data shows bitcoin tending to perform better when traditional U.S. markets are closed.
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