Bitcoin News Mash-Up: More Bitcoin Auctions; Blockstream New Investment; and More

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Bitcoin News Mash-Up: More Bitcoin Auctions; Blockstream New Investment; and More

Following are the major Bitcoin news of the day

Feds Announces to Auction 50k Silk Road Bitcoins
The US Marshall Service announced to auction 50k Bitcoins seized from the demised underground online market Silk Road. This is the second time the Feds have announced a Bitcoin sell-off, and is planning to sponsor 18 more rounds to sell nearly 144,000 Silk Road Bitcoins. To participate in the auction, bidders must register and provide the necessary documentation before December 1st. It is worth mentioning that the famous Bitcoin investor Tim Draper took away a stash of 29,655 BTC in previous auctioning, for $US18 million.

Blockstream Receives $21 Million in Funding
Blockstream officially announced on its website that it has received an investment of $US21 million in funding to continue development of the sidechains. This project aims to facilitate the creation of an entire ecosystem of blockchain on which users can exchange and transfer digital assets, using Bitcoin as the backbone. The round, which was attended by 40 investors, was led by Reid Hoffman (the co-founder of LinkedIn and current member of the board of Airbnb), as well as by Khosla Ventures and Real Ventures.

Spanish Bank Invests in Bitcoin Trading Platform
Bankinter has probably became first ever bank to have ever invested in a Bitcoin venture. The Spanish-based financial institution recently announced to invest in a Bitcoin trading platform Coinffeine through its venture capitalist firm Bankinter Innovation Foundation. The Coinffeine project is aimed at developing a syndicated foreign bitcoins decentralized exchange that trade foreign currencies, safely and anonymously, without committing to a third party money management services.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com