Crypto

Chicago company to open office, cryptocurrency center in Tampa

Published

2 years ago

May 19, 2022

Chicago company to open office, cryptocurrency center in Tampa

The Chicago-based fintech agency CoinFlip will open a brand new workplace and cryptocurrency studying lab within the Water Road Tampa District.

CoinFlip is thought for its Bitcoin ATMs all through the U.S. Up to now, it has 3,500 ATMs throughout 49 states, taking its place on the frontline of cryptocurrency and blockchain expertise.

By choosing Tampa as a website for its workplace outdoors of Chicago, CoinFlip will occupy almost 8,000-square-foot of workplace area in Sparkman Wharf, which is scheduled to open this summer time. Together with the workplace location, the agency will educate the general public on cryptocurrency, set up extra ATMs and create 40 high-paying tech jobs.

“We did a rigorous research on the place to seek out the highest tech expertise and an ideal place to work – the info confirmed it was Tampa,” Ben Weiss, CEO and founding father of CoinFlip, advised the St. Pete Catalyst. “We’re right here to remain and have already stuffed an honest quantity of positions.”

The choice to faucet into Tampa wasn’t solely because of the outcomes the research yielded, however a number of components resembling being impressed by the Water Road District and Sparkman Wharf.

“We had this imaginative and prescient for an experiential studying middle and Water Road Tampa [developed by Strategic Property Partners] has that entrepreneurial spirit. It’s not one other workplace constructing, they’ve constructed a neighborhood,” he mentioned.

Water Road Tampa is creating 9 million sq. toes of latest industrial, residential, leisure and academic area in downtown Tampa. Sparkman Wharf is the mixed-use waterfront vacation spot inside the district, which options 180,000 sq. toes of workplace area, 65,000 sq. toes of ground-level retail and a transport container park for restaurateurs.

Weiss described the process-making course of as a “holistic resolution,” and listed different contributing components, together with the College of Tampa’s engineering program and assembly with the Tampa Financial Improvement Council, which helped bridge connections, and his staff talking with Tampa Mayor Jane Castor.

“We’re honored CoinFlip selected Tampa for this venture and its first-ever company enlargement. Our popularity as a high tech metropolis is rising, and I’m assured our robust expertise pool will probably be an ideal useful resource for the corporate because it seems to develop within the space,” Castor mentioned within the information launch. “Not solely is Tampa an engineering hub, however we’re additionally rapidly changing into a middle for all issues crypto. We’re excited to proceed to construct our presence within the crypto area with the addition of CoinFlip – a real win for the town.”

As a part of the brand new workplace enlargement in Tampa, CoinFlip will open what it’s calling a Crypto Expertise Middle, which will probably be a first-of-its-kind vacation spot within the U.S. that can educate the neighborhood about cryptocurrency and buying digital currencies by way of the corporate’s on-site Bitcoin ATMs, a cornerstone of CoinFlip’s enterprise. It will likely be used to additionally host academic occasions to learn each crypto learners and fans, in response to a information launch.

“One of many issues that’s exhausting for individuals to know is Bitcoin is decentralized, there’s isn’t a financial institution or authorities shopper safety,” Weiss mentioned. “We’ll present training on how the blockchain works by displaying demonstrations and educating individuals to ensure they’re being good and don’t make investments greater than they’re prepared to make use of. The middle will virtually be just like the Genius Bar at Apple.”

RELATED: As the value of Bitcoin surges, so does the variety of Bitcoin ATMs

Weiss mentioned the corporate won’t search new funding in Tampa because the CoinFlip is bootstrapped, and in 2021 it earned a income of almost $100 million.

CoinFlip was additionally ranked No. 60 on the Inc. 5000, making it the highest-ranking crypto firm included on the listing.

Crypto

Crypto bull market fuels creation of 88K millionaires, six billionaires in 2024 – report

Published

4 hours ago

September 1, 2024

Press Room

Crypto bull market fuels creation of 88K millionaires, six billionaires in 2024 – report

AlexSava

The 2024 cryptocurrency bull market has sparked a remarkable surge in wealth, creating over 88K new millionaires and elevating six individuals to billionaire status, according to a recent report by British investment migration consultancy Henley & Partners.

The number of individuals holding crypto worth of at least $1M has skyrocketed to 172K, up 95% from a year before. The significant shift comes during the same year in which bitcoin (BTC-USD) reached a new record high of $73.8K in March, buoyed by the launch of U.S. spot bitcoin exchange-traded funds that have ushered in notable institutional – and retail – capital.

What’s more, the number of centi-millionaires – individuals with assets exceeding $100M – has surged by 79%, reaching a total of 325, the report added. And five out of the six newly minted crypto billionaires have amassed their fortunes through investments in bitcoin (BTC-USD). MicroStrategy’s (MSTR) Michael Saylor, who personally owns about $1B of bitcoin, is an outspoken bitcoin whale.

But, since its price swoon in early August, bitcoin (BTC-USD) has been trading 23%-16% off its all-time highs. That’s despite the fact that the Federal Reserve is gearing up to start cutting borrowing costs, a move that may attract investor demand for riskier assets, including BTC. Year-to-date, BTC climbed about 38%.

“The longer bitcoin stays in this range, the more likely a strong breakout will happen, although it’s uncertain which direction it will take,” said Seeking Alpha analyst Dean Popplewell in Bitcoin’s Steady Range: Mt. Gox Impact And Future Outlook.

Fellow SA contributor Florian Grummes is leaning on the bearish end of the bull-bear spectrum, citing seasonal patterns and potential stock-market volatility.

He expects bitcoin’s pullback from March highs “to intensify over the next one to two months, and would not be surprised if the markets crashed temporarily, he said in Bitcoin: This Correction Is Probably Not Over Yet. A panic sell-off lasting several weeks should then provide patient investors with very good entry opportunities in September or October, or at the latest, after the US election in early November.”

Elsewhere in Henley & Partners’ report, crypto-wealthy investors are increasingly seeking residency in jurisdictions that are both crypto-friendly and tax advantageous, it found. Singapore continues to be the “premier cryptocurrency hub,” excelling in regulatory framework and infrastructure development. Coming in second place, Hong Kong has investor-friendly tax policies. And the United Arab Emirates, also with its tax advantages, ranks third in this competitive landscape.

“The crypto millionaires of 2024 are not content with digital riches alone; they seek freedom of global mobility to match their borderless assets,” said Dominic Volek, group head of private clients at Henley & Partners.

The report includes stats on wealthy crypto investors provided by wealth intelligence firm New World Wealth, along with insights from academics, industry experts and crypto players.

More on the Crypto Market

Crypto

Tesla CEO Elon Musk Wants To Bring Back Dogecoin As A Payment Option To Buy Company's Merchandise – Tesla (NASDAQ:TSLA)

Published

13 hours ago

August 31, 2024

Press Room

Tesla CEO Elon Musk Wants To Bring Back Dogecoin As A Payment Option To Buy Company's Merchandise – Tesla (NASDAQ:TSLA)

Tesla Inc TSLA CEO Elon Musk said on Friday that he would like to have the option of paying with meme cryptocurrency Dogecoin DOGE/USD reinstated for the company’s merchandise.

What Happened: “Me,” Musk wrote in reply to an X user who asked whether anyone would like Tesla to reinstate the option of paying with Dogecoin for its merchandise.

Tesla has an online shop with company merchandise. Though it currently only allows payment in dollars, it previously allowed users to make payments with Dogecoin. Earlier this year, Musk even suggested in an address during his visit to Giga Berlin that the company would accept Dogecoin as an official form of payment for its cars at some point.

The EV giant’s website even has a support page for clearing doubts about paying with Dogecoin for its products.

“Tesla only accepts Dogecoin. Tesla cannot receive or detect any other digital assets. Ensure you are making your purchase with Dogecoin. Sending any other digital assets may result in the assets being lost or destroyed,” the page reads.

Why It Matters: Earlier this week, Musk and Tesla secured the dismissal of a federal lawsuit accusing them of defrauding investors through insider trading and market manipulation of Dogecoin.

The decision was delivered on Thursday night by U.S. District Judge Alvin Hellerstein. Investors had accused Musk of exploiting Twitter (now X) posts and other publicity stunts to trade profitably at their expense through several Dogecoin wallets controlled by him or Tesla.

Judge Hellerstein, however, stated that no reasonable investor could rely on social media posts to pursue a securities fraud claim. The lawsuit was subsequently dismissed with prejudice, preventing it from being filed again.

Over the years, Dogecoin’s price movement has become increasingly linked to social posts and endorsements by Musk, as well as developments around companies owned by him.

Earlier this month, Musk posted an AI-generated image referencing the cryptocurrency through his X account, which caused it to spike.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

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Crypto

North Korean Hackers Exploit Chrome Flaw to Steal Cryptocurrency: Report

Published

24 hours ago

August 31, 2024

Press Room

North Korean Hackers Exploit Chrome Flaw to Steal Cryptocurrency: Report

According to a recent report by Microsoft’s cybersecurity team, a group of North Korean hackers known as the “Citrine Sleet” have exploited a previous flaw in Google Chrome to steal cryptocurrency from people.

Microsoft first became aware of the cyberattack on Aug 19, when the hackers exploited a vulnerability in the Chromium engine, the open-source software that powers Chrome and other popular browsers like Microsoft Edge.

This type of flaw is called “Zero-day”, meaning that Google was unaware of the issue and had no time to fix it before it was exploited.

According to Microsoft researchers, Citrine Sleet which operates similarly to the popular notorious Lazarus Group, often creates fake websites that look like real crypto trading platforms to trick people They use these fake sites to get users to download harmful software known as “AppleJeus”.

This software is often disguised as job applications or cryptocurrency wallets. Once the software is installed, it gives the hackers control over the victim’s device, allowing them to steal their cryptocurrency.

Google eventually released a fix for this flaw on Aug, 21, two days after being alerted by Microsoft. However, it’s still unclear how many organizations or people were affected by the attack