Tag Archives: Lightspeed Venture Partners

22 Bitcoin Companies Issued Subpoena by New York Department of Financial Services

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Bitcoin New York Subpoena

22 Companies Called to New York to Answer Questions about Bitcoin

The New York State Department of Financial Services has subpoenaed 22 companies in an effort to better understand the uses and implications of alternative currency Bitcoin.

“If virtual currencies remain a virtual Wild West for narcotraffickers and other criminals, that would not only threaten our country’s national security, but also the very existence of the virtual currency industry as a legitimate business enterprise,” said Benjamin M. Lawsky, Superintendent of Financial Services, in a release. “We believe that – for a number of reasons – putting in place appropriate regulatory safeguards for virtual currencies will be beneficial to the long-term strength of the virtual currency industry.”

Forbes published a list of 22 companies that were subpoenaed due to their involvement in Bitcoin.

  • BitInstant
  • BitPay
  • Coinabul
  • Coinbase Inc.
  • CoinLab
  • Coinsetter
  • Dwolla
  • eCoin Cashier
  • Payward, Inc.
  • TrustCash Holdings Inc.
  • ZipZap
  • Butterfly Labs
  • Andreesen Horowitz
  • Bitcoin Opportunity Fund
  • Boost VC Bitcoin Fund
  • Founders Fund
  • Google Ventures
  • Lightspeed Venture Partners
  • Tribeca Venture Partners
  • Tropos Funds
  • Union Square Ventures
  • Winklevoss Capital Management

Below is the full release providing context on the subpoena.


CC image by wallyg

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Boost VC Launches Bitcoin Fund and Accelerator Program

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Boost Bitcoin Fund

Boost Bitcoin Fund and Accelerator

There are lots of startups getting into Bitcoin, from networks like Ripple to exchanges like BitInstant. Now there’s a new fund designed to support Bitcoin startups, called Boost Bitcoin Fund.

Adam Draper, Founder & CEO of Boost VC, announced the Boost Bitcoin Fund on his blog.

Bitcoin, the decentralized, ungoverned currency has become an obsession of mine. Almost all of my blog posts have been about it, and almost all of my meetings in the last 3 months have been in reference to it. Bitcoin is the most exciting innovation that is happening in the world today. That is why we here at Boost VC are excited to announce the Boost Bitcoin Fund.

The Boost Bitcoin Fund is a follow-on, or “start” fund for Bitcoin companies that graduate from the Boost accelerator program. The fund will provide each Bitcoin company in the summer cohort with a $50k investment after completing the program in September, in addition to the $15k invested by Boost VC. The fund is anchored by Lightspeed Venture PartnersRothenberg VenturesThe Bitcoin Opportunity Fund and Ben Davenport. This impressive set of investors have already established themselves as true “thought leaders” in the alternative currency space, and I’m incredibly excited to have them onboard.

The idea for the fund came together 3 months ago when we decided to accept 5-7 Bitcoin companies into our summer session. We received incredibly positive responses from the investment community following our announcement, and as a result, decided to put together this follow on fund for this cohort of companies. Interest was so strong that the capital came together in a week! These awesome investors have partnered with Boost in the hope of producing the next generation of Bitcoin entrepreneurs and innovators. We’re committed to pushing Bitcoin toward becoming the next digital frontier.

As an added bonus one fourth of this fund will be invested as Bitcoin into the startup companies.

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Is the Ripple Network Bitcoin 2.0?

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Ripple Bitcoin

Is the Ripple Network Bitcoin 2.0?

Fastco.exist provides an in-depth look at Ripple, a company that calls itself the “world’s first open payment network,” and may be the next big thing for Bitcoin.

Ripple, a platform that just received funding from Google Ventures, Andreessen Horowitz, Lightspeed Venture Partners, and others, has created both an alternative to Bitcoin and a distributed currency exchange for Bitcoiners (and others) who aren’t comfortable using only Ripple’s currency, known as XRP.

More on the mechanics of Ripple:

The Ripple platform serves two purposes: it’s a distributed open-source payment network, and it’s the home of the newly minted XRP currency. As a payment network, Ripple provides free global payments without chargebacks (minus a $0.0001 per transaction network charge, implemented as a security precaution against hackers), the ability to pay in any currency using a distributed currency exchange, and an open protocol that any developer can use. “The Ripple network is a protocol. It’s like HTTP for money. Users, merchants, anyone can use it for free without a license,” explains OpenCoin co-founder Chris Larsen.

So is it complementary or competitive with Bitcoin?

Ripple isn’t trying to convert all Bitcoin users to dedicated XRP advocates (though that would certainly be nice for OpenCoin). Instead, Larsen sees Ripple as a companion to Bitcoin. “It’s complementary. You can hold your Bitcoin in Ripple. We want to be agnostic to any currency, whether that be a virtual currency, political currencies, or peer to peer currencies,” he says.


Read the full article at Fastco.exist.

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