$500k in funding paves way for bitcoin trading

AccessTimeIconApr 17, 2013 at 12:58 p.m. UTC
Updated Sep 9, 2021 at 12:11 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

New York City-based bitcoin startup Coinsetter has taken its first outside investment by closing a seed round of funding totaling $500,000.

The round was led by Barry Silbert, the CEO and founder of SecondMarket, and tech entrepreneur Jimmy Furland. Silbert invested in the company through his Bitcoin Opportunity Fund. Tribeca Venture Partners, a venture capital firm, also took a leading role as the largest investor in the round. Other investors include Microsoft head of corporate strategy Charles Songhurst, Facebook product lead Ben Davenport and bitcoin industry leader Roger Ver.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • "This financing round places our company in a position to build this highly demanded platform the right way," said Jaron Lukasiewicz, Coinsetter's founder and CEO. "We now have multiple developers working to bring a high-quality product to market, and we have even more people performing security-intensive code reviews on it."

    Coinsetter will soon be launching a forex trading platform for bitcoin that will let people make levered trades on margin and short the bitcoin market.

    These capabilities are available in all mature markets but are virtually absent in the bitcoin space, Coinsetter noted in a blog post. The startup also plans to offer the first scalable solution for accredited investors and institutions to earn interest on their bitcoins.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.