Connect with us

News

Two Sigma Ventures backs cryptocurrency security startup Trustology

Nino Team

Published

on

© Reuters. FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration© Reuters. FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration

By Anna Irrera

NEW YORK (Reuters) – The venture capital arm of quantitative hedge fund manager Two Sigma has backed Trustology, a young company that develops technology to help investors safeguard digital assets such as cryptocurrencies, the companies said on Thursday.

Two Sigma Ventures led an $8 million seed round in the London-based startup, with participation from blockchain company ConsenSys.

Security is one of the biggest risks facing the nascent cryptocurrency market, where investors trade digital coins online, often using pseudonyms. Around $1.7 billion worth of cryptocurrency has been stolen between 2012 and the first half of 2018, according to financial research firm Autonomous NEXT and Crypto Aware.

Trustology will use the funding to offer its service for more types of cryptocurrencies and to expand globally, the company’s CEO, Alex Batlin, said in an interview.

Trustology hopes to make it simpler for investors to secure their virtual assets through its product which stores “private keys” in hardware security modules, or highly secure processors that are specifically designed to safeguard passwords and digital keys. Private keys are alphanumerical characters that give users access and control over their cryptocurrencies.

Matt Jacobus, a venture partner at Two Sigma Ventures, said in a statement that a similar solution was needed “to develop a larger, institutional trading ecosystem around digital assets.”

Trustology originally designed the product with banks in mind as potential customers, but has been focusing more on individual investors and cryptocurrency hedge funds, according to Batlin.

“The original thinking was we would build the tech and sell to the banks,” he said. “They are not moving as quickly as we are and we have quite a lot of demand from individuals, as well as crypto funds.”

Batlin was previously at UBS Group AG and Bank of New York Mellon (NYSE:) Corp where he headed initiatives on blockchain, the technology underpinning cryptocurrencies.

He said he has not seen a decrease in demand for his company’s products even though cryptocurrency prices were rocked by a crash this year.

The price of bitcoin soared to around $20,000 last December and has since fallen more than 80 percent. The total value of all cryptocurrencies is now about $121 billion, down from about $830 billion at the start of the year, according to cryptocurrency data provider Coinmarketcap.com.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Coinbase and the Awkwardness of Growing Up

Nino Team

Published

on

© Reuters.  © Reuters.

Noelle Acheson is a veteran of company analysis and member of CoinDesk’s product team.

The following article originally appeared in Institutional Crypto by CoinDesk, a newsletter for the institutional market, with news and views on crypto infrastructure delivered every Tuesday. Sign up here.

Coinbase’s recent announcement that it was considering another 31 tokens for listing was greeted with a potent mix of vindication, disappointment, query and speculation.

Continue Reading on CoinDesk

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Continue Reading

News

Exchanges, Startups Pick Sides After the Bitcoin Cash ‘Hash War’

Nino Team

Published

on

© Reuters.  © Reuters.

The so-called “hash war” over the future of bitcoin cash is over – and what remains appears to be a persisting rivalry between the forces behind what are now two distinct cryptocurrencies.

Created in November when the blockchain underwent a controversial system-wide upgrade (also called a hard fork), there remains a segment of the bitcoin cash community that follows a new software protocol called Satoshi’s Vision, or BSV.

With the remaining community following a competing implementation of bitcoin cash called Bitcoin Adjustable Blocksize Cap, or ABC, the expectation shortly after the split was that one blockchain would quickly overtake the other.

Continue Reading on CoinDesk

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Continue Reading

News

Cardano Dips Below 0.029270 Level, Down 4%

Nino Team

Published

on

© Reuters.  © Reuters.

Ninomag.com – fell bellow the $0.029270 level on Sunday. Cardano was trading at 0.029270 by 06:31 (11:31 GMT) on the Ninomag.com Index, down 4.28% on the day. It was the largest one-day percentage loss since December 1.

The move downwards pushed Cardano’s market cap down to $758.94302M, or 0.73% of the total cryptocurrency market cap. At its highest, Cardano’s market cap was $23.91700B.

Cardano had traded in a range of $0.028054 to $0.029414 in the previous twenty-four hours.

Over the past seven days, Cardano has seen a drop in value, as it lost 5.15%. The volume of Cardano traded in the twenty-four hours to time of writing was $9.51922M or 0.09% of the total volume of all cryptocurrencies. It has traded in a range of $0.0277 to $0.0318 in the past 7 days.

At its current price, Cardano is still down 97.83% from its all-time high of $1.35 set on January 4.

Elsewhere in cryptocurrency trading

was last at $3,277.1 on the Ninomag.com Index, up 1.70% on the day.

was trading at $0.29179 on the Ninomag.com Index, a gain of 1.37%.

Bitcoin’s market cap was last at $57.18460B or 54.89% of the total cryptocurrency market cap, while XRP’s market cap totaled $11.91524B or 11.44% of the total cryptocurrency market value.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Continue Reading

News

When There’s Blood in the Street (Why It’s Not Quite Time to Be Long Crypto)

Nino Team

Published

on

© Reuters.  © Reuters.

Timothy Enneking is the founder and the primary principal of Digital Capital Management, LLC (DCM).
——————-

Two members of the Rothschild family are credited, perhaps incorrectly, with the (in)famous quote regarding investing: “When there is blood in the street” (James in the mid-19th century and Nathan, after the battle of Waterloo).

The family has been one of the richest in the world for over 200 years, so there’s something to be said for following the advice of its members… In the crypto space, therefore, the question becomes, Is there enough blood in the streets now that it’s the time to buy? I would argue no. Or, more precisely, not quite yet.

Continue Reading on CoinDesk

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Continue Reading

News

Crypto is for Activists: Why We Need More Cypherpunks, Not Cypherposers

Nino Team

Published

on


Zach Harvey is the CEO of Lamassu, an early and active provider of cryptocurrency vending machines.

The following is an exclusive contribution to CoinDesk’s 2018 Year in Review.

Continue Reading on CoinDesk

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Continue Reading

Trending

Copyright © 2018 NinoMag