Blockchain
Glen Oaks Escrow Announces It Assisted With Its First Bitcoin Transaction
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Glen Oaks Escrow, one of Southern California’s largest independent escrow companies, recently announced that it closed its first Bitcoin transaction.
The organization shared that the homebuyer contacted the Glen Oaks Escrow office in San Diego to inquire about purchasing a condo in Costa Mesa. Given that Glen Oaks Escrow is able to provide services in other locations outside of San Diego, Escrow Officer Doreen Tirres, successfully assisted the client with the transaction.
“Doreen was wonderful,” Buyer Ezra B. said of the 17 day escrow. “She was responsive and on top of things. She was extremely professional and I didn’t have any doubts that we would have any trouble closing this transaction. She did all the communication with BitPay which was nice.”
“We made the decision in 2018 to start accepting Bitcoin payments, and we are thrilled that we did. This real estate transaction exemplifies that, while a young technology in our industry, blockchain and cryptocurrencies have the potential to become a bigger part of real estate transactions. And, we’re very proud to be at the forefront to enable transactions in this way,” shared Joe Curtis, COO of Glen Oaks Escrow.
Glen Oaks Escrow accepts Bitcoin payments through BitPay, which acts as the payment processor in the transaction and is used to verify the funds (similar to how a bank would function). The escrow company then sends out an invoice to the buyer exactly like wire instructions would be sent. The buyer then has 15 minutes to pay with Bitcoin or the payment option will expire.
The funds go to escrow through BitPay, which turns it into cash and wires it into the escrow account. In summary, BitPay takes the Bitcoin and converts it to cash for the seller, so the seller never actually sees the Bitcoin payment, but just the cash.
The decision was made to accept Bitcoin as the payment method due to an increasing number of homes currently listed on the market that are accepting Bitcoin as a form of payment. In 2014, a Lake Tahoe home sold for 2,739 Bitcoins — the equivalent of $1.6 million at the time. In 2017, a buyer used roughly 3,300 Bitcoins to buy a Cape Cod-style mansion in Manhattan Beach for $3.225 million.
“While many are still trying to understand how cryptocurrencies fit into the real estate industry, we continue to see the growth of usage in other markets. In March, two multi-billion-dollar companies started accepting Bitcoin for payments – Avnet, a Phoenix-based electronic supplier and Digitec Galaxus AG – a Swiss-based online retail store. We are confident that this new way of doing business will increase in our industry, and we’re proud to be paving the way for this technology,” explained Joe Curtis.
SOURCE Glen Oaks Escrow
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
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