VENTURE CAPITAL POST

Shanghai, China-based bitcoin exchange BTC China released a new web app called the Picasso ATM to help Bitcoin users exchange the virtual currency even without a physical ATM.

Despite significant increases in its use as a payment system and attention in the marketplace, Bitcoin is small relative to both traditional payment processors and global currencies, according to a Fitch Ratings Why Forum commentary published today.

Bitcoin derivatives trading platform BTC.sx has secured funding from Seedcoin Fund, BTC.sx Chief Operating Officer George Samman told Reuters on Tuesday.

Boston, US-based digital currency firm Circle Internet Financial closed a $17-million Series B round from Oak Investment Partners and other investors to help consumers conduct easier and safer Bitcoin transactions.

Developers have modified the open source Bitcoin software and released a new version to resolve the transaction flaws and to prevent a Mt Gox-like incident from happening again.

Facebook Secutiry Director Ryan McGeehan annouced that he is leaving in early April to take a security-related position at San Francisco, US-based Bitcoin startup Coinbase.

The recent drawbacks faced by Bitcoin has not deterred investors from continuing to support and make investments in ventures related to the crypto-currency, TechCrunch reported.

In contrast to a previous report by Newsweek, Dorian Satoshi Nakamoto issued an official statement denying any alleged ties he has with Bitcoin including allegations that he created Bitcoin.

OKCoin raised $10 million in a Series A funding round led by Chinese venture capital firm Ceyuan to become the biggest Bitcoin exchange in China according to trading volume.

According to security researchers at Securelist, the data stolen from the computer owned by Mt Gox Chief Operating Officer Mark Karpeles' computer contained malware that pretended to be a back-end app for Mt Gox transactions but actually stole users' Bitcoins.

Warren Buffet said Bitcoins were a "mirage" and that investors should "stay away" from it, VentureBeat reported citing the investor's comments on CNBC's "Squawk Box."

A class action lawsuit was lodged in an Ontario Superior Court of Justice against Mt. Gox and Mizuho Bank Ltd by Bitcoin investors from Canada, Reuters reported.

Xapo has obtained a $20 million funding from Benchmark Capital, Fortress Investment Group Llc and other investors to keep Bitcoins safe and secure, TechCrunch reported.

Chief Executive Officer Patrick Byrne of Overstock said they are recording $20,000 to $30,000 worth of Bitcoin transactions per day and growing, Business Insider reported.

Big Fish Games is collaborating with Coinbase so that it can accept Bitcoin as a form of payment for games and virtual goods in its gaming platform, VentureBeat reported.