Author Archives: David Drake

The Real Reason Coinbase Hired Jeff Horowitz as Chief Compliance Officer

  By David Drake   Jeff Horowitz’s appointment as chief compliance officer at Coinbase, the largest cryptocurrency platform in the US, could herald a new era of investment opportunities for institutional investors. Formerly the managing director of Pershing LLC and banking regulator at the FDIC, Horowitz’s addition is expected to help Coinbase expand into new markets. His experience working in […]

90% Project Failure: What Does this Mean for the Cryptocurrency Market?

  By David Drake   Forrester, a market research firm has forecasted a grim future for blockchain. In a report released recently, the firm estimates that up to 90% of active blockchain projects will either be put on hold or abandoned altogether. The report, further states that adoption of distributed ledger technology in businesses has reduced drastically in the United […]

How Coinbase is Strengthening Its Structures to Attract Institutional Investors

By David Drake This year has seen the creation of more than 100 cryptocurrency hedge funds. Several large financial institutions have announced plans to launch cryptocurrency trading. Development of blockchain-based innovations has also hit a whole new level. Creation of platforms such as Gath3r for web-mining monetization, IOU for e-commerce loyalty solutions and URAllowance for family smart contracts has seen […]

2-Way Bitcoin ATMs: Can they Solve the Crypto Hacking Problem?

  By David Drake   Bitcoin ATMs are increasingly gaining popularity. Just last month, 55 new Bitcoin ATMs were installed in different cities, representing a 1.6% increase, from 3415 at the start of the month, to 3470 across 72 countries. However, the most captivating news about Bitcoin ATMs was the entry of two-way Bitcoin ATMs into the market. Malta, a […]

Two Reasons Why Institutional Investors Avoid Digital Assets and How Coinbase is Addressing Them

  by David Drake     Coinbase, one of the leading cryptocurrency exchange, is positioning itself to attract institutional investors. The exchange recently hired Jeff Horowitz, formerly the managing director and chief compliance officer of Pershing LLC, as its chief compliance officer. By hiring Horowitz, Coinbase hopes to expand the innovative market through his guidance as well as add new services […]

The Real Reason Why J5 Is a Timely Collaboration

  by David Drake     Early last month, the United States tax agency, Internal Revenue Service (IRS) announced that it had formed a new taskforce to investigate international tax crimes and money laundering in the cryptocurrency industry. The global collaborative effort dubbed Joint Chiefs of Global Tax Enforcement (J5) involves tax agencies from five countries, namely the United States, Canada, […]

With J5 Scrutiny, Are Crypto Startups Ready for Tax Liabilities?

  by David Drake   For the first time, representatives of the Joint Chiefs of Global Tax Enforcement, dubbed as J5, met in Montreal, Canada last month. The JF comprises of Australian Taxation Office (ATO), the Fiscal Information and Investigation Service (FIOD) of The Netherlands, the Canada Revenue Agency (CRA), Her Majesty’s Revenue and Customs (HMRC) of the United Kingdom […]

Will South Korea’s Move to Embrace Cryptos Improve Support for ICOs?

  by David Drake     Since January of this year, South Korea has been making headlines for taking drastic measures in the cryptocurrency industry. The country was the first to pass regulation requiring players in the industry to synchronize their trading details with those in the bank. The country even went further to  place a ban on initial coin offerings […]

Fake ICOs: How Can Cryptocurrency Investors Stay Safe?

  by David Drake   Growth of the cryptocurrency industry has led to an increase of fraudulent projects that falsify information in order to attract investors. Crypto-flare is one such project. Recently, I noted that the project  has flagrantly faked its advisors and management. The site alleges that Saars Levi is its CEO and co-founder , and lists me as […]

How South Korea is Positioning Itself to become a Crypto Market Leader

  by David Drake     South Korea has been a key contributor to cryptocurrencies but in this country, the industry has had to contend with big challenges. Such challenges include an initial coin offerings (ICOs)  ban, regulatory changes and hackings that led to the loss of huge amounts of money, almost bringing the industry to its knees. However, things are […]