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Rethink, Renew: ShapeShift CEO Erik Voorhees to Rebrand Crypto Exchange

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Cryptocurrency trade startup ShapeShift is making plans a significant rebrand this 12 months.

Announced at ETHDenver, an ethereum developer convention being held in Colorado this weekend, ShapeShift CEO Erik Voorhees mentioned that beginning Monday the corporate can be opening up a closed beta duration for decided on customers so they may be able to check out a brand new model of the cryptocurrency trade platform excited by simplifying the consumer enjoy.

Featuring larger interoperability with ShapeShift’s cryptocurrency {hardware} pockets KeepKey, CMO of ShapeShift Emily Coleman instructed CoinDesk that the revitalized platform objectives to convey in combination all the corporate’s disparate merchandise, together with cryptocurrency pricing tracker CoinCap.

The feedback got here all through a panel Saturday on management “in times of ambiguity,” the place Voorhees used to be joined via co-founder of cryptocurrency micropayments provider Earn.com Lily Liu, CSO of ethereum challenge capital studio ConsenSys Sam Cassatt, and co-founder of decentralized utility platform Holochain Arthur Brock.

All maintaining (or having held) positions of executive-level management, every panelist used to be requested to quote one of the most toughest selections they’ve needed to make with their respective crypto companies.

“If you’re going to be a company in the crypto industry, you’re attached to the severe market cycles of the industry. That’s full of good and bad,” mentioned Voorhees.

Voorhees admitted that one of the most toughest selections of his profession used to be the verdict last September to introduce know-your-customer (KYC) precautions to cryptocurrency trade platform, ShapeShift.

“I felt like I had to do something morally wrong to allow the company to persist…It’s a really awful position to be in,” mentioned Voorhees.

Explaining that he remained “ethically opposed” to requiring customers of the buying and selling platform to relinquish private details about themselves, Voorhees conceded the verdict to introduce KYC got here right down to working out “what fights we want to fight” and interested by “the long-term.”

To this, Voorhees has now not given up any hopes for a brand new long run the place “any two people freely and without censorship” can simply take part in financial transactions, pronouncing:

“Society is comfortable about this idea that people should be able to talk freely with each other … the fact that money is treated differently is a huge injustice. I hope that crypto breaks that discrepancy.”

ShapeShift recently noticed a 3rd of its group of workers laid off because of the ongoing marketplace downturn.

‘A refocusing of priorities’

Other corporations that experience needed to make tough selections in crypto iciness had been additionally represented, together with challenge capital studio ConsenSys, which introduced a 13 % group of workers minimize in early December. Still, each Voorhees and CSO of ConsenSys Sam Cassatt stay adamant that the business as a complete – outdoor of marketplace fluctuations – is booming.

“Pretty much all indicators except the wildly fluctuating crypto prices are great. We have more ethereum developers than ever. We have more government and big business taking us seriously than ever before… Except for that one number, everything’s great,” mentioned Cassatt.

Indeed, ConsenSys is on no account staying idle with their investments. Announced Friday all through ETHDenver’s opening ceremonies, founding father of the corporate Joseph Lubin published ConsenSys give $150,000 within the cryptocurrency DAI to blockchain-based employment provider Opolis.

This along with opening the ConsenSys Grants Program to new candidates, Lubin highlighted thrilling plans for the brand new 12 months pronouncing that folks must “expect several token launches in 2019.” All this being encompassed in “a refocusing of priorities,” Lubin installed a former interview with CoinDesk that the following iteration of Consensys – Consensys 2.0 – is focussing on industry viability and good fortune “in a real business ecosystem.”

Leveraging those equipment, the revitalized platform will boast added capability for customers not to handiest covert one cryptocurrency to some other however retailer and set up their belongings all at the identical non-custodial trade.

“The goal is to create fluidity between products,” mentioned Coleman to CoinDesk.

Erik Voorhees symbol by means of CoinDesk archives 

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NYSE files a trademark application for trading NFTs

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The world’s largest stock exchange may be planning to bring business into the Metaverse.

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Traders say $4,000 Ethereum back on the cards ‘if’ this bullish chart pattern plays out

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Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.

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CryptoPunks community reacts to the ongoing copyright battle between V1 and V2

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Although the collection is no longer deemed authentic by Larva Labs, its creators alleged sold 210 ETH worth of CryptoPunks V1 when the wrapped versions first gained traction.

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Binance.US is under investigation from SEC over trading affiliates: Report

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Binance CEO Changpeng Zhao allegedly has connections to two market makers buying and selling crypto on Binance.US.

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Boost Insurance unveils product covering against crypto theft from qualified custodians

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Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

Boost + Breach

While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
– Eyhab Aejaz, Co-Founder & CEO at Breach

To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
– Alex Maffeo, CEO & Founder of Boost

In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
– Joe Ziolkowski, CEO at Relm

The post Boost Insurance unveils product covering against crypto theft from qualified custodians appeared first on CryptoNinjas.

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