GDAX Pledges to Enable Bitcoin Cash Withdrawals By 2018
GDAX, the cryptocurrency exchange operated by Coinbase, has announced that it will launch support for Bitcoin Cash (BCC or BCH) sometime later this year. Although GDAX chose to not support BitoinCash, the exchange has "examined all of the relevant issues" and decided to revise its decision regarding the Bitcoin fork.GDAX will integrate Bitcoin Cash by January 1, 2018 – although the exchange cautioned that this would only take place "assuming no additional risks emerge during that time." GDAX general manager Adam White wrote:
"Once supported, customers will be able to withdraw bitcoin cash from GDAX. We'll make a determination at a later date whether or not we will also support trading of bitcoin cash. In the meantime, all customer's bitcoin cash will remain safely stored on GDAX."
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Trader Claims He Lost $430,000 at Bitcoin Exchange BTC-e
Australian cryptocurrency trader Jack Kingston has claimed that he lost $430,000 worth of the digital currency Bitcoin at the exchange BTC-e after the US authorities have gained control of the exchange. He said that he cannot log in to the exchange’s website and that the US government has painted all the exchange’s users as criminals and confiscated their money.
The Australian trader intimated that he has been trading digital currencies for years. He claimed that his experiences at BTC-e had been very smooth and that he was able to trade a lot of money, he said:
“But the real reason I was trading so much money is because when you’re swinging $100,000 to 200,000 trades and Bitcoin moves two percent you’re doing alright. For me, it’s a part time thing on the side.”
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Filecoin Raises $52M Ahead of its Upcoming ICO
On August 7, decentralized storage network Filecoin is launching its token sale through the SEC-compliant CoinList platform. The much-anticipated project has already raised close to $52 million from several major Silicon Valley investors ahead of the ICO on Monday.
Unlike other blockchain projects, Filecoin decided to take a different path with its ICO. The Filecoin token sale will be hosted on the CoinList platform, which was developed by Protocol Labs and the prominent startup platform AngelList. The token sale will fully compile with SEC funding regulations and also be available for U.S. citizens. In an article at International Business Times, Juan Benet, the founder of Protocol Labs and IPFS, stated following regarding this decision:
"It does have one huge side effect, or bad effect, which is that a lot of people that are used to contributing to these sales and have helped fund a lot of things like Ethereum, unfortunately they will not be able to participate. We wish we could include them."
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