Bitcoin Daily: BitOoda Notches $7M Seed Round; Cypriot Regulator Cautions Against Four Brands

Digital asset financial services platform BitOoda Holdings, LLC notched a $7 million seed round, the company said in an announcement. The firm says its “investor base was spurred by the achievement of several industry firsts in the past year, with the inclusion of the planning and execution of the BitOoda Hash physical hashpower contract, the BitOoda Difficulty financial swap and growing business lines in next-generation financial solutions as well as advisory services. BitOoda founder and CEO Tim Kelly said in the announcement, “I am thrilled by the explosion of interest in BitOoda’s unique business model, and the recognition of our pioneering success in bringing new, sophisticated products to the digital asset market.”

In other news, BestChange reportedly provides a solution to let users exchange digital currencies or purchase them with fiat funds, Cointelegraph reported. The platform brings together a broad listing of eCurrency and crypto exchange services to offer quotes to users. Users can choose a currency they wish to unload from column in a table, and select the currency they wish to purchase from another. After making a selection, a user can see multiple exchange rates. BestChange supports 12 digital currencies as of today, with the inclusion of Ethereum, bitcoin, Litecoin, Bitcoin Cash, Monero, and Ripple, among others.

On another note, The Cyprus Securities and Exchange Commission cautioned against four FX brands that were blacklisted after they reportedly facilitated digital currency and FX trading without having the permission to do so in the nation, Finance Magnates reported. Crypt Fx Tm, Nervic Fx Trade, Intense Fx Trade and Urban Fx Trade were the newest to arrive on the caution list of CySEC. The brands also reportedly claim an affiliation with Bdswiss Holding Plc, which has its CIF License and is already regulated in the country. The regulator has also cautioned against eMarketsTrade that is said to operate a combination of a pure digital currency and FX business.