Bitcoin News — New Zealand

The Daily: Coinbase Launches Investment Fund, Cointext Enters New Markets

Posted by Lubomir Tassev on

The Daily: Coinbase Launches Investment Fund, Cointext Enters New MarketsIn this edition of The Daily, we look at Coinbase’s decision to create a new investment vehicle for institutions in partnership with asset manager Wilshire Phoenix. We also cover the expansion of bitcoin cash SMS wallet service Cointext into four new markets. Also, New Zealand’s financial regulator has issued a warning against a platform offering […]

The post The Daily: Coinbase Launches Investment Fund, Cointext Enters New Markets appeared first on Bitcoin News.

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New Zealand’s Financial Authority Blacklists Three Local Crypto Platforms

Posted by Ana Berman on

The Financial Markets Authority of New Zealand claims a local crypto platform is a scam because of its use of a certified company’s name and identity.

The Financial Markets Authority (FMA) of New Zealand has added three new crypto-related websites to its list of online scams, an announcement by the FMA reveals Thursday, Nov. 1.

On Nov. 1, the FMA listed three companies — Crypto Gain, Russ Horn, and Zend Trade — on its “scam” list, where citizens are warned about the potential risk of dealing with certain websites.

In regards to Crypto Gain, the FMA states that the company is posing as a New Zealand company with the same name without permission to do so, noting:

“The website is not associated with, nor a representative of, the New Zealand registered company Cryptogain Limited.”

Crypto Gain Limited (not to be confused with the other Crypto Gain — a desktop app to track one’s crypto assets) claims on its website that it has a certificate of incorporation granted by local authorities in August 2017. According to the website, the company provides consulting services for those who are new to crypto trading.

Earlier in October, the FMA had blacklisted several other crypto-related companies. Fix Club Limited, a crypto trading platform, was mentioned because of false claims that it belonged to the New Zealand regulated crypto area. Bitcoin Revolution Trading was listed for reportedly claiming that country’s current or former prime ministers and Treasury officials were investing in Bitcoin (BTC).

As Cointelegraph previously wrote, rumors spread on social media in late 2017 that former New Zealand Prime Minister Sir John Key held $300 mln in BTC from his initial investment of $1,000. However, Key denied all the allegations, revealing that the initial piece was posted by a fake website pretending to be the New Zealand Herald — the largest newspaper in country.

New Zealand’s police have also warned citizens about crypto-related online scams in September, shortly after an investor lost $320,000 NZD ($213,000 USD) to crypto fraudsters. “Members of the public should seek advice before making any online investments they are unsure of,” the police sergeant said at the time.

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The Daily: Consensys Acquires Planetary Resources, New Zealand Backs Crypto R&D

Posted by Avi Mizrahi on

The Daily: Consensys Acquires Planetary Resources, New Zealand Backs Crypto R&DIn today’s edition of The Daily, we look at a company that has decided to expand from the cryptocurrency space into outer space by buying a venture focused on mining asteroids. We also cover an investment platform that has secured R&D funding from a government agency, as well as a limited-edition hardware wallet. Also Read: […]

The post The Daily: Consensys Acquires Planetary Resources, New Zealand Backs Crypto R&D appeared first on Bitcoin News.

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New Zealand Gov’t-Backed Institute Issues Grant to Crypto Wallet and Trading Service

Posted by Helen Partz on

New Zealand government-backed innovation institute Callaghan Innovation issued a grant for $330,000 to a domestic crypto wallet and trading service.



New Zealand’s state-backed innovation institute Callaghan Innovation awarded a $330,000 grant to a local crypto wallet and trading service, according to a press release published Tuesday, Oct. 30.

Callaghan Innovation issued an “R&D Project Grant” to local crypto wallet and trading platform Vimba, a rebranded version of former MyCryptoSaver. Following the grant, the crypto startup is reportedly set to expand its offerings, as well as to list more cryptocurrencies and enable multi-signature crypto wallets.

R&D Project Grants are a type of co-funding for a research and development project. A Callaghan Innovation spokesperson told Cointelegraph that the grants fund up to 40 percent of a project, and that 355 such grants were approved during the last fiscal year.

Founded in 2014 as MyBitcoinSaver, Auckland-based Vimba platform offers New Zealand residents with limited weekly investments in major cryptocurrencies Bitcoin (BTC) and Ethereum (ETH). Since its launch, Vimba has underwent two investment rounds, and will reportedly launch services in the U.K. in the coming weeks.

Vimba CEO Sam Blackmore commented that firm’s client base has “remained very stable” despite the bearish market this year. Blackmore also expressed company’s belief that Bitcoin will “at least reach the market cap of gold,” due to being a “more efficient, more accessible, more secure version of that rare asset.”

The neighboring state of Australia has also awarded government grants to crypto and blockchain startups. In August, the government of the state of Queensland issued a grant to a crypto travel startup called TravebyBit as part of over $8.3 million in innovation funding. The company would purportedly boost tourism to the state by selling travel offers with cryptocurrencies.

In July, the Queensland Cane Growers Organization received a $1.7 million government grant to implement blockchain technology for tracking the provenance of sugar supplies.

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Fake News Site Used New Zealand Prime Minister to Pump Bitcoin Startup

Posted by Wolfie Zhao on

A fake news site used images of New Zealand's prime minister in sponsored posts on Facebook to promote a bitcoin firm.

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