Bitcoin News Mash-Up: Bitcoin’s Fist Non Profit; Mark Karpeles Breakup; and More

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Bitcoin News Mash-Up

Following are the major Bitcoin news of the day

BitGive Becomes the First Official Bitcoin-Centric Nonprofit Organization
After a year since its launch, BitGive became the first official, Bitcoin-centric organization to receive a “nonprofit” status from American Internal Revenue Service (IRS). Because of this significant achievement, BitPay, XAPO, LibraTax, Roger See and other members of the community organized a fundraising campaign to build a long-term fund for charitable donations. Connie Gallippi, BitGive executive director, said:

“We are very grateful for the expert legal team we have at Perkins Coie, LLP, who provided pro-bono services to establish the Foundation and apply for this tax exempt designation.”

Mark Karpeles Ditches Bitcoin in New Endeavor
Mark Karpeles, CEO of the controversially demised Bitcoin exchange Mt. Gox, just launched a new web hosting service called Forever.net, registered under Tibanne Karpeles (parent company of Mt. Gox). TIBANNE Co. Ltd. is a corporation headquartered in Tokyo, Japan, founded in 2009 by a bunch of technopreneurs. TIBANNE specializes in web hosting, IP Transit, VoIP, software development and network administration. It is currently engaged in research and development of new and existing services to provide innovative solutions to its customers. Interestingly, Bitcoin is not mentioned on the site.

Agora Commodities No Longer Accepting Credit Cards
The precious metals dealer Agora Commodities began accepting Bitcoin in 2012 in addition to traditional credit card payments and bank transfer. Since then, the company has made about $10 million in revenue with Bitcoin, which has subsequently made them take certain radical decisions. One of such decision is abandoning credit card systems. Agora Commodities’ founder Joseph Castillo admitted the Bitcoin’s lower transactions costs and card fraud over other payment methods. He also noted the customer reaction on Bitcoin to be quite overwhelming, minus any sort of negative comment.

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

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