Legendary investor George Soros and venture capital firm “VenRock,” which was founded on and controls the assets of the Rockefeller family, are reportedly looking to invest in virtual currencies.
Venrock was founded in 1969 by the grandchildren of John D. Rockefeller. The name comes from the combination of the words “venture” and “Rockefeller.” Venrock’s portfolio includes many successful companies, including Cloudflare and Dollar Shave Club. Typically, Venrock focuses tech companies in their early stages. Two of these companies were Apple and Intel.
George Soros is one of the most successful investors of all time. He is known for successfully short selling around 10 billion USD worth of the british pound, earning him the nickname “the man who broke the Bank of England” and around one billion USD. His current net worth is estimated at around 8 billion USD, however he has given away many more billions to charitable causes. According to bloomberg, Soros’ investment business is preparing itself to trade in cryptocurrencies, despite Soros himself earlier describing bitcoin as a “typical bubble.”
Coinbase, the most popular way to buy and sell bitcoin, has announced that it will begin to support withdrawal of forks of the bitcoin network. For the time being, Coinbase has chosen not to announce support for any specific fork of bitcoin. The announcement can be found here in this blog post. (-forks-to-coinbase-c4bee020898c)
This would make Coinbase one of the first exchanges to support bitcoin forks, as typically exchanges do not support forks, leading users to withdraw their funds from exchanges for storage in case of the event of a valuable bitcoin fork. This update may cause some users to hold their bitcoin on the exchange for convenience rather than on another, more secure method of holding bitcoin, such as a cold wallet. Storing funds on an exchange is not recommended, as exchanges are often targeted by hackers and are many times for vulnerable than a private wallet.
Some of the internet’s largest advertisers, including Google, Facebook, and Twitter, have all announced restriction of advertisements regarding cryptocurrencies. Facebook’s ban has been implemented with some success, although some companies have simply circumvented it by referring to cryptocurrencies indirectly, with Google’s coming in mid 2018. Twitter’s ban, however, appears not to have been implemented as of yet, in fact their advertisement policy has not been updated in months. Twitter’s advertisement policy can be viewed here. ()
