Copy link
Increase text size
Decrease text size
Link copied

Crypto brokerage BitOoda raises $7M in seed round

Tue, 24 Dec 2019, 10:11 am UTC

Cryptocurrency brokerage BitOoda has raised $7 million in a seed funding round from a roster of prominent investors.

Dr. Gary Ross, former Head of Global Oil Analytics and Chief Energy Economist at S&P Global Platts, as well as founder of PIRA Energy; Calvin Schlenker, former Head of North American Natural Gas Trading at British Petroleum; and Roy Salame, former Managing Director, Head of Global Investment Opportunities Group, and Head of Commodities Sales and Structuring at J.P. Morgan participated in the round.

Founded in 2017, New Jersey-based BitOoda is an SEC/FINRA-registered Broker-Dealer and a CFTC/NFA-registered Introducing Broker.

In its press release, BitOoda said that its investor base was particularly spurred by its achievements in the past year, which includes the design and execution of the BitOoda Difficulty financial swap, the BitOoda Hash physical hashpower contract, and growing business lines in advisory services and next-generation financial solutions.

“At BitOoda, we are never happy doing things in the same way as our competitors, and we are focused on creating new market sectors where we can leverage our team’s unique expertise in capital markets, physics, and engineering,” said BitOoda founder and CEO Tim Kelly.

“We are excited about the growth opportunities this seed round will enable, and plan to position ourselves to meet the soaring demand for our innovative solutions – both here in the U.S. and increasingly across Asia and Europe.”

In its recent Global & Regulatory Analysis published on Monday, BitOoda emphasized that the introduction of the Crypto-Currency Act of 2020 is the “most promising U.S. regulatory development in recent memory."

“In our view, this is precisely the type of law that could enable executive branch agencies to not only better coordinate their efforts, but also to move beyond the 1930’s laws to which they are currently tied in terms of interpretation and application to digital assets,” it said.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $7,248.96 (+6.79%)
  • Ethereum (ETH) $164.49 (+14.62%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $252.96 (+9.04%)
  • Bitcoin SV (BSV) $190.67 (+9.39%)
  • Bitcoin (BTC) $7,248.96 (+6.79%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.