Bitcoin News Mash-Up: Bitcoin is Money; Chain Receives $9.5m; and More


Bitcoin News Mash-Up

Following are the major Bitcoin news of the day

Federal Judge Calls Bitcoin Money
Robert Faiella, an individual accused for illegally selling $1 million worth of Bitcoin to Silk Road users, recently urged a New York federal judge to write him off the charges of money laundering, citing that Bitcoin is not actually money but an asset. However, the accused plea was outright rejected by the judge who went by dictionary which terms Bitcoin as any other form of payment like fiat currencies. Further explaining his reasons for turning down Robert’s request, the judge said that Bitcoin is available to trade on multiple exchanges in exchange of other legal currencies. It thus acts like a denominator of value, and further used in making financial transactions.

Chain Raises $9.5 Million in Funding
Chain, an emerging Blockchain API development company, recently received a new round of funding – a whopping $9.5 million – making its total funding cross the $13 million mark. This investment was led by Khosla Ventures, and was also supported by Kevin Ryan, Barry Silbert, Scott Banister, Homebrew, Pantera Capital and 500 Startups.

Simon Fraser University Planning to Integrate Bitcoin Payments
One of the Canada’s most prestigious institutions, Simon Fraser University (SFU) is currently evaluating their chances to integrate Bitcoin payments, and to install its ATMs to their libraries. If the planning comes into implementation, SFU will become the first Canadian educational institute to adapt a cryptocurrency. The university founder Yeung said:

“When an institution like SFU or any university looks deeply into it and adopts it and embraces it, it kind of makes Bitcoin more valid for a lot of people. Especially if you can spend it on campus or buy some on campus; that would be great.”

To contact the assembler of the stories: Yashu Gola at

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