09 Apr '15, 6am

Bitcoin exchange Coinsetter acquires Canadian platform #cryptocurrency #bitcoin via @crypcoin

Bitcoin exchange Coinsetter acquires Canadian platform #cryptocurrency #bitcoin via @crypcoin

NEW YORK (Reuters) - Coinsetter, a New York-based bitcoin exchange that targets institutional and professional traders, said on Wednesday it has acquired Canadian Virtual Exchange, a bitcoin trading platform which recently shut down due to security breaches. According to sources, the deal was valued at $2 million (1.35 million pounds), marking the first merger deal in the growing bitcoin exchange market. Jaron Lukasiewicz, chief executive officer of Coinsetter, will become the CEO of Cavirtex. The transaction was an all-stock deal, Lukasiewicz told Reuters, although he declined to give the total value. Bitcoin is a virtual currency created through a "mining" process where a computer's resources are used to perform millions of calculations. It has been hailed as revolutionary by the currency's advocates because of its lack of ties to a central bank and its potential as an a...

Full article: http://uk.reuters.com/article/2015/04/09/uk-bitcoin-excha...

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