Bitcoin News Mash-Up: Boost VC’s New Investments; Bitcoin’s Californication; and More

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Following are the major Bitcoin news of the day

Boost VC Announces a New Bitcoin Fund
Boost VC, the venture capitalist firm based in California, announced a new fund called Bitcoin Boost Fund 2, which promises to give an additional 300 BTC to each Tribe 5 Bitcoin Startup. This fund, backed by Draper Associates, is one of the many recent announcements by Boost VC. In November, the company closed a funding round in which it generated $6.6 million, led by Mark Andreessen and Ben Davenport.

Tim Draper Wins Only 2000 BTC in USMS Auction
Last week, the USMS held its second auction of the 50k Bitcoins seized from Ross Ulbricht’s cold wallet. Post-auction, famous investor Tim Draper announced to have won only 2,000 BTC out of the entire stash. He told the New York Times that he will have to purchase some more Bitcoins in order to fulfill his commitments to Boost VC startups. According to the USMS, a total of eleven bidders participated in the second auction.

California Wants to Regulate Bitcoin
California’s Department of Business Oversight is planning to regulate activities related to cryptocurrency sector, reports the Coin Telegraph. This one state in the US has the largest number of companies that accept Bitcoin, a reason why authorities are taking special interests in regulating it. The department’s spokesperson Tom Dresslar said:

“The consensus among staff is that the department and commissioner could regulate virtual currency, to some extent, under current state law. Consumers would be the prime concern of any regulatory structure we build—making sure they are fully aware of the risks associated with virtual currency and providing effective, reasonable safeguards against those risks.”

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