06 Apr '15, 10am

Bitcoin Marketplace Buttercoin Folds Despite $1.3 Million Investment

Bitcoin Marketplace Buttercoin Folds Despite $1.3 Million Investment

US bitcoin marketplace Buttercoin is shutting its doors, despite launching just four months ago with at least $1.3m in investor backing. In a farewell post to customers today, the Buttercoin team announced the service will go offline this Friday (April 10th) at 11pm PST. Stressing that it was "100% secure and solvent", the Palo Alto-based platform blamed a lack of VC interest for its closure, stating: "With the dip in bitcoin interest among Silicon Valley investors, we weren't able to generate enough venture capital interest to continue funding Buttercoin." Buttercoin's nine-person team had raised at least $1.3m from investors including Reddit co-founder Alexis Ohanian, Y Combinator, Centralway Ventures , Google Ventures and Wedbush Securities – though its exact funding total is unclear. The eBay-like service had entered the US market aiming to offer liquidity and one-day ...

Full article: http://www.coindesk.com/bitcoin-marketplace-buttercoin-fo...

Tweets

Google Ventures-Backed Bitcoin Exchange Butterc...

techcrunch.com 06 Apr '15, 9am

Buttercoin , a bitcoin exchange startup backed by Y Combinator and Google Ventures, is closing its doors at the end of thi...

Google Ventures-Backed Bitcoin Exchange Butterc...

techcrunch.com 06 Apr '15, 9am

Buttercoin , a bitcoin exchange startup backed by Y Combinator and Google Ventures, is closing its doors at the end of thi...

Bitcoin exchange Buttercoin shuts down due to lack of funding

Bitcoin exchange Buttercoin shuts down due to l...

mashable.com 06 Apr '15, 9am

Bitcoin exchange Buttercoin, which has previously received funding from Google Ventures , is shutting down, the company ha...

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thenextweb.com 06 Apr '15, 8am

US-based Bitcoin trading platform Buttercoin is shutting down its service on April 10 , due to a lack of investor interest...

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