VENTURE CAPITAL POST

Bitcoin, the most famous digital and crypto currency, has an enormous surge of value with more than 70% raise in a month. A movement that surprised every body amidst a global economic slowdown, is coming from Chinese capital outflow invested in bitcoin.

Bitcoin startup company, Abra, recently announced that it is set to launch in the United States and the Philippines after getting $12 million in Series A Round funding from investors, including the American Express and Ratan Tata, the chairman emeritus of Tata Sons.

Citibank is testing on a new digital currency Citicoin at this point, handling a run-through platform and evaluating key measures. In line with this, the premier bank is also suggesting the U.K. government to provide its own digital cash.

USAA, a San Antonio, Texas-based financial institution serving current and former members of the military, is studying the underlying technology behind the digital currency bitcoin to help make its operations more efficient, a company executive said.

International Business Machines Corp is considering adopting the underlying technology behind bitcoin, known as the "blockchain," to create a digital cash and payment system for major currencies, according to a person familiar with the matter.

Silicon valley startup 21 Inc has raised $116 million in venture funding to help broaden the uses of bitcoin technology, the Wall Street Journal reported.

Bitstamp, one of the largest exchanges for trading the digital bitcoin currency, said it has temporarily suspended service after "some" of its "operational wallets were compromised" on Sunday, resulting in loss of about 19,000 bitcoins.

After skyrocketing to more than a thousand dollars in price late last year and attracting global attention, bitcoin, the leading digital currency, has stalled.

Hundreds of alleged usernames and passwords for online document-sharing site Dropbox were published on Monday on Pastebin, an anonymous information-sharing website.

Tech-savvy Venezuelans looking to bypass dysfunctional economic controls are turning to the bitcoin virtual currency to obtain dollars, make Internet purchases -- and launch a little subversion.

A man who helped to promote bitcoin wants to remain in the business despite pleading guilty Thursday to indirectly helping send more than $1 million in the digital currency to users of the illicit online marketplace Silk Road, his lawyer said.

Bitcoin is catching on at U.S. online merchants including Overstock.com and Expedia, as customers use a digital currency that just a few years ago was virtually unknown but is now showing some staying power.

American and Canadian Bitcoin traders and investors have agreed to settle the class-action lawsuits they have filed against the bankrupt Tokyo, Japan-based Bitcoin exchange Mt Gox in return for a 16.5% stake in the firm.

BTC China has halted deposits of local currency from the China Merchants Bank, causing the value of Bitcoin to fall from $500 to below $440, a 10% difference from its value in the past few days.

Tokyo, Japan-based Bitcoin exchange Mt Gox will file for liquidation in Tokyo instead of its initial plan of rebuilding the firm under bankruptcy protection after a bug reportedly brought the site down.