30 Apr '15, 7am

Jeremy Allaire's Bitcoin Startup Circle Takes $50M From Goldman Sachs, IDG by @kimmaicutler

Circle , the Bitcoin startup that veteran entrepreneur Jeremy Allaire started, just raised $50 million from Goldman Sachs and IDG Capital Partners. It’s another sign that the finance industry’s most powerful players are starting to take the crypto-currency and its ecosystem seriously. All of Circle’s existing investors including Breyer Capital, General Catalyst Partners, Accel Partners, Oak Investment Partners, Fenway Summer, Digital Currency Group and Pantera Capital participated. Rival Coinbase recently did a large growth round too that involved the New York Stock Exchange and USAA. With the round, Circle is letting customers send and receive U.S. dollars as well as Bitcoin. The key point about this feature is that it takes advantage of Bitcoin’s promise in settling transactions and reaching consensus much more cheaply than traditional online financial transactions. In i...

Full article: http://techcrunch.com/2015/04/30/circle-goldman-sachs/

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