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Bitcoin In The Big Apple
In the wake of the Mt. Gox controversy, a new bitcoin exchange is preparing to open operations in New York City, making it the first bitcoin exchange in the Big Apple.
SecondMarket, a New York City-based digital marketplace that allows customers to buy and sell illiquid assets, is expanding its bitcoin operations into an entire bitcoin exchange. According to Fortune, SecondMarket has all of its plans ready and is simply waiting for formal approval from the company’s board at the next monthly meeting.
SecondMarket currently acts as the custodian of the Bitcoin Investment Trust: a private, open-ended trust audited by Ernst & Young that derives value from the price of bitcoin. BIT is the first-ever U.S. investment vehicle dedicated exclusively to bitcoin, and it will be placed in charge of the new bitcoin exchange.
SecondMarket will also turn its 11-person bitcoin trading team into a full trading desk to fill both sides of the currency exchange after the closing of Mt. Gox. SecondMarket will also contribute about $20 million in cash and bitcoin to get the bitcoin exchange off the ground.
Bitcoin In The Big Apple: SecondMarket Preparing To Open First New York City-based Bitcoin Exchange
In the wake of the Mt. Gox controversy, a new bitcoin exchange is preparing to open operations in New York City, making it the first bitcoin exchange in the Big Apple.
SecondMarket, a New York City-based digital marketplace that allows customers to buy and sell illiquid assets, is expanding its bitcoin operations into an entire bitcoin exchange. According to Fortune, SecondMarket has all of its plans ready and is simply waiting for formal approval from the company’s board at the next monthly meeting.
SecondMarket currently acts as the custodian of the Bitcoin Investment Trust: a private, open-ended trust audited by Ernst & Young that derives value from the price of bitcoin. BIT is the first-ever U.S. investment vehicle dedicated exclusively to bitcoin, and it will be placed in charge of the new bitcoin exchange.
SecondMarket will also turn its 11-person bitcoin trading team into a full trading desk to fill both sides of the currency exchange after the closing of Mt. Gox. SecondMarket will also contribute about $20 million in cash and bitcoin to get the bitcoin exchange off the ground.
Bitcoin In The Big Apple: SecondMarket Preparing To Open First New York City-based Bitcoin Exchange
