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Alphabit Digital Currency Fund Deploys Initial Investment in Stratis Protocol and Initiates Coverage – Press release Bitcoin News

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PRESS RELEASE. Stratis’ innovative blockchain solutions have attracted the attention of the digital asset investment fund, Alphabit, who have injected an initial investment while committing to a further 8 figure investment over the next 24 months for growth and development of the BaaS ecosystem.

1st February 2020, London, United Kingdom: Blockchain as a Solution (BaaS) service provider Stratis makes decentralized adoption easier for any firm with its innovative products designed to fit seamlessly with legacy operations, by allowing companies access to the Stratis blockchain via the widely-used C# programming language. The platform allows seamless running of smart contracts, multiple sidechains, and houses a full-scale ICO platform.

Alphabit, A billion USD AUM fund and one of the world’s first regulated digital asset investment funds focused on delivering turn-key solutions and assisting projects with end-to-end partnerships, enters into this venture to rapidly scale Stratis’ development and help deploy cutting edge products that allow mainstream organizations to use blockchain in their day to day operations. The significant commitment by Alphabit is a testament to the groundbreaking approach of Stratis’ offerings.

CEO of Alphabit Liam Robertson commented on the partnership:

“Stratis Protocol, after analysis, fits neatly into our investment thesis and we believe the potential for growth for Stratis to be exponential. We are delighted to welcome Stratis into our portfolio and look forward to supporting them over the coming months and years.”

Stratis CEO Chris Trew said the following:

“We are thrilled to partner with Alphabit, one of the world’s first regulated digital asset investment funds. Alphabits initial injection, in conjunction with their further investment commitment, will unquestionably assist in accelerating the adoption of Stratis Technologies, while cementing Stratis as the go-to platform for Microsoft .NET Blockchain development.”

With the expertise and backing of Alphabit, Stratis will be empowered to develop ever-better solutions for the b2b market. Coupled with their C# support, Stratis’ solutions will increase the onboarding of blockchain solutions in the global market.

About Stratis

Stratis offers unprecedented levels of security, reliability and performance through leveraging blockchain. First of its kind, the platform’s native C# ecosystem enables firms all over the world use their existing IT infrastructure and tools to adopt the technology by providing access to the Stratis blockchain’s features, in a language which is familiar to the everyday developer.

  • Stratis Identity: A decentralized KYC and AML check to make it easier for businesses to verify client identities and comply with regulations.
  • Supply Trust: A turnkey solution for supply chain management, providing full visibility in a trustless and decentralized environment.
  • STO Platform: Regulation-compliant digital securities for businesses launching STO’s
  • Stratis Smart Contracts: Secure and auditable digital contracts that are developed in the industry-standard Microsoft C# language, fit for the DeFi age.

About Alphabit

Alphabit specializes in investments in blockchain and distributed ledger technology projects. They offer a wide range of advisory services and act as the Investment Advisor to the Alphabit Fund; one of the world’s first regulated digital asset investment funds.

Their goal is to share their expertise with promising projects and advance the cryptocurrency movement as a whole, and to date, Alphabit has successfully brought to market projects like Metal Pay, The Sun Exchange, and Suterusu.

To find out more about how Stratis is bringing the next generation of blockchain to businesses, visit their website, or to see how Alphabit is empowering Blockchain businesses to reach new heights, visit their website.

Follow Stratis on Twitter – https://twitter.com/stratisplatform

Join the Stratis Developer Academy – https://academy.stratisplatform.com/

Check out Stratis on GitHub – https://github.com/stratisproject

Read the latest Stratis news – https://www.stratisplatform.com/news/

 

Media Contact Details

Contact Name: Bitcoin PR Buzz Press Team

Contact Email: press@bitcoinprbuzz.com

 

About Bitcoin PR Buzz: Bitcoin PR Buzz has been proudly serving the crypto press release distribution needs of blockchain start-ups for over 8 years. Get your Bitcoin Press Release Distribution today.

 

Stratis Group LTD is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections.

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Camarasal Poll Shows Entrepreneurs Are Worried About Bitcoin Law in El Salvador – Economics Bitcoin News

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Sergio Goschenko

Camarasal, a well known entrepreneur association in El Salvador, announced the results of a poll made this month. The poll shows almost 100% of Salvadorans worry about the implementation of the bitcoin tender law approved recently. Most criticize the obligatory character of receiving bitcoin payments and don’t expect this move to bring investment to the country.

Camarasal Poll Shows Concerns About Bitcoin Tender Law Implementation

A quick poll conducted by Camarasal, one of the biggest entrepreneur groups in El Salvador, is showing people have deep concerns about the future application of the Bitcoin Law. The poll got more than 1,600 answers in just four days from entrepreneurs and non-entrepreneurs. Camarasal president Jorge Hasbún stated on the massive participation that:

We believe that this excellent response is a reflection of how urgent this issue is for Salvadorans, in the sense of the implications it will have for the family economy on a day-to-day basis.

More than 96% of the entrepreneurs polled prefer an optional use of bitcoin for payments. The bitcoin tender law forces entrepreneurs to accept bitcoin for payments, as long as the entrepreneur manages the technological infrastructure to do so. In the same way, 45.3% indicated they were concerned that the circulation of cryptocurrency in the country is mandatory; while 35.9% assured that it generates mistrust.

Also, most of the entrepreneurs won’t keep the bitcoin received as payment for their goods and services: 51.6% of them answered they would exchange the bitcoin received for dollars. Bitcoin is a pretty volatile asset too, and that scares entrepreneurs that work with tight margins.

Non-Entrepreneurs Also Skeptical About Bitcoin

Camarasal also polled non-entrepreneurs, but the answers were not optimistic either. About using bitcoin as a medium of exchange, 36% said they are concerned and 39% said they distrusted it. The topic of wages and remittances was also included in the poll. El Salvador is a remittance-intensive country, with 23% of the GDP coming from these, according to AP. 93.2% said that they do not want to receive their salary in cryptocurrency, while 82.5% assured that they are not interested in receiving remittances in bitcoin.

Salvadoreans are still lack training on bitcoin and its management, and that might be the key behind these unoptimistic answers. Camarasal vicepresident Carmen Alas stated:

It will be essential that there is a broad consultation with an interdisciplinary group that represents the sectors involved for the construction of the regulations that make this law operational

What do you think about Camarasal’s latest poll in El Salvador? Tell us in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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SEC Seeks Commentary From ‘Interested’ Individuals on Vaneck Bitcoin ETF – Regulation Bitcoin News

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Jamie Redman

The U.S. Securities and Exchange Commission (SEC) is currently seeking additional commentary from the public, as the regulating body ponders the Vaneck bitcoin exchange-traded fund (ETF) decision. In a notice published on Wednesday, the SEC thinks “interested persons” should provide comments on the proceedings.

SEC Is Looking for Comments Concerning Vaneck’s Proposed Bitcoin ETF Listing

In December 2020, New York-based investment management firm Vaneck filed with the SEC to list a bitcoin ETF. Following the original filing, in March 2021, the Chicago Board Options Exchange (Cboe) applied to list the Vaneck Bitcoin Trust. Then at the end of April, as the U.S. regulator was determining whether or not it would reach a conclusion on the Vaneck ETF, the SEC gave itself 45 more days to decide.

The SEC’s order detailed that the notice of designation has been postponed to June 17, 2021. The regulator could increase it to a “longer period up to 90 days” the notice said. “As the Commission may designate if it finds such longer period to be appropriate and publishes its reasons,” the U.S. regulator’s order revealed. The order was composed by the SEC’s assistant secretary Matt DeLesDernier on April 28, 2021.

This week, on June 16, 2021, the SEC has disclosed that it’s seeking commentary from “interested persons” who are for or against the Vaneck bitcoin ETF listing. Interested commenters have approximately 21 days to give a statement to the regulator.

“The Commission is instituting proceedings pursuant to Section 19(b)(2)(B) of the Act14 to determine whether the proposed rule change should be approved or disapproved. Institution of proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change, as discussed below,” the SEC’s June 16 notice discloses. The announcement adds:

[The] institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.

SEC’s Decisions Designed to ‘Protect Investors and the Public Interest’

The U.S. regulator declares that its methods for decision-making are in the best interests of the public. Moreover, the SEC may institute procedures that allow for further review of the proposed rule change.

“Pursuant to Section 19(b)(2)(B) of the Act, the Commission is providing notice of the grounds for disapproval under consideration,” the notice details. “The Commission is instituting proceedings to allow for additional analysis of the proposed rule change’s consistency with Section 6(b)(5) of the Act, which requires, among other things, that the rules of a national securities exchange be ‘designed to prevent fraudulent and manipulative acts and practices’ and ‘to protect investors and the public interest.’”

This is not the first time the U.S. regulator has asked for statements concerning approval or disapproval of a bitcoin-based ETF in the country. So far, however, despite the many applicants in 2021 and previous years, the Securities and Exchange Commission has yet to approve a bitcoin ETF.

What do you think about the SEC seeking commentary on the Vaneck Bitcoin Trust? Do you think the U.S. regulator will approve a bitcoin ETF this year? Let us know what you think in the comments section below.

Tags in this story
45 days, approval, Bitcoin, Bitcoin (BTC), BTC, Decision Making, exchange traded fund, Matt DeLesDernier, Postponed, Public Commentary, Public Interest, Regulation, SEC, us regulator, vaneck, Vaneck bitcoin ETF

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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Bitdao Collects $230 Million in Private Capital From Investors – Finance Bitcoin News

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Reuben Jackson

As the decentralized finance movement proves its staying power and resilience, one of the world’s largest decentralized autonomous organizations, Bitdao, has concluded a private fundraising round to promote mass adoption of open finance.

DAO to Allocate Capital Towards Improving Defi R&D, Funding, & Liquidity

As decentralized finance (defi) slowly regains its footing following the May decline in total value locked, there is no shortage of investment capital chasing after the idea’s tremendous potential.

Bitdao, a decentralized autonomous organization focused on defi, is launching following the successful conclusion of a $230 million private funding round. The private capital raise featured participation from more than 20 institutions and defi partners, including hedge fund manager Alan Howard, well-known entrepreneur Peter Thiel, Dragonfly Capital, Fenbushi, Founders Fund, Jump Capital, Pantera Capital, and Spartan Group, among others.

To resolve the Bitcoin network’s persistent throughput issues and Ethereum’s high transaction cost, Bitdao’s multichain design intends to unseat existing centralized pegged tokens that pose censorship and counterparty risks through a fast and affordable decentralized solution. The organization’s native BDAO governance and defi token is pegged to the value of bitcoin, with plans to introduce other pegs in the future for coins like ethereum.

The fresh capital will be allocated to multiple areas of operation, including research and development, funding, and liquidity operations. Attracting developer talent is one of the primary aims of this initiative, and capital will also be distributed as grants and token swaps to support blockchain technologies. In addition, contributions to the Bitdao treasury will be used to back partners, add liquidity, and help bootstrap new protocols in decentralized exchange (dex) platforms, lending, and synthetics.

Besides this funding, Bybit, one of Bitdao’s ardent supporters, has pledged 2.5 basis points from all futures contracts transaction volume on its platform in recurring support to the treasury. Based on the platform’s 2021’s transaction volumes, this figure could reach $1 billion annually, helping underpin Bitdao’s mission of improving adoption, collaboration, and innovation within decentralized finance as inclusively as possible.

What do you think about Bitdao raising $230 million? Let us know what you think about this subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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