This episode from May 8, 2014, covered major developments in the cryptocurrency space, focusing on industry recognition, venture capital investment, and regulatory warnings.
Summary:
The discussion highlighted that MadBitcoins was nominated for the 2014 Blockchain Awards. Furthermore, the episode reported that prominent venture capitalists Steve Case and Tim Draper invested $4 million in Varum, a company creating virtual Bitcoin exchange services for financial institutions. The segment also addressed the ongoing regulatory scrutiny, noting that the SEC had issued a warning about the risks associated with Bitcoin and virtual currencies.
Main Topics Discussed:
* MadBitcoins nomination for the 2014 Blockchain Awards.
* $4 million seed funding from Steve Case and Tim Draper to Varum.
* Varum's business model: creating virtual Bitcoin exchanges for banks.
* The SEC issuing a warning regarding the risks of virtual currencies.
Key Quotes:
1. "Soon, every bank could be a Mt. Gox." (Referring to Varum's potential impact.)
2. "Bitcoin lacks credibility and trust... says SEC."
3. "As always, check in with us on Facebook, pin us on YouTube, and upvote us on Twitter." (A reminder of the show's ongoing community engagement.)
People Mentioned:
Steve Case, Tim Draper, Andreas Antonopoulos, Redcoin, Lightcoin.
Bitcoin Price:
The price was reported as steady, with a last price of 437 (CoinDesk BPI). The high was 445, and the low was 436.