ShapeShift Raises £525k, Erik Voorhees Comes Forward as Creator

CoinDesk reports that decentralized crypto exchange ShapeShift has raised £525,000 ($793,000) from Barry Silbert's Digital Currency Group and Roger Ver.

The Swiss-based exchange has no user accounts, logins or order books. Users can swap between 25 different digital currencies and tokens, the exchange acting as a "vending machine" for the transfer. At any given time, the exchange indicates how much "Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term" is available, which is replenished accordingly. There is no fiat involved in the operation. The exchange runs entirely on bitcoins and reportedly has no bank accounts.

The idea of the setup is to avoid playing custodian over client funds. Millions have been lost on Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and altcoin exchanges due to hacking-related theft of coins under their care.

Over the past six months, the exchange has reportedly experienced a monthly increase of 30% in traded volume.

With the news, Bitcoin entrepreneur Erik Voorhees has come forward as the exchange's creator and operator. He previously worked under the alias Beorn Gonthier. He claimed that in the early days of the venture he wanted the focus to be on the exchange, not on him.

For a detailed list of recent investment and M&A activity in the crypto industry, please visit the DC Magnates Crypto Deal Table.