Green Dot (NYSE:GDOT): $20 Million Funding Round
The Green Dot (GDOT) cryptocurrency exchange platform has secured a $20 million funding round led by investment firm Digital Currency Group. The news comes a week ahead of GDOT’s quarterly report on its Q3 financials at which time it revealed a positive operating environment, strong growth in new cryptocurrency trading volume, increased capital spending, and continued expansion into new jurisdictions.
The $20 million funding round was led by the digital currency division of Digital Currency Group, which brings together experts and experts in strategic investment, institutional funding and venture capital. Digital Currency Group has also been a longstanding investor in the technology company in addition to owning assets in the space for a number of years.
“With the announcement of the latest funding round, Green Dot and its global team will soon have access to a robust new investment pool which will ensure GDOT continues to accelerate investment opportunities in the blockchain industry,” said Digital Currency Group CEO and Founder Craig Wright. “We share the excitement of our investors and the passion of our team, and look forward to working with our new investors to grow this innovative blockchain company as one of the leading financial services and blockchain businesses worldwide.
The investment in Green Dot, as well as the expansion into new jurisdictions will support the company’s global expansion with significant additional capital and operational growth to support the organization’s ambitious plan to become the leading blockchain-based financial institution.
“We are excited to partner with Digital Currency Group and look forward to working together to propel Green Dot to the forefront of the blockchain industry,” said Andy Chenault, Green Dot CEO. “As we continue to grow our global team, we will implement our vision to become a truly global financial institution with all assets held on our platform, including cryptocurrency, and we are excited for the possibilities that this new opportunity presents.
In addition to the $20 million investment from Digital Currency Group, Green Dot is also set to receive a $10 million government grant to help it expand in other jurisdictions. The grant will be used to help improve GDOT’s capabilities to expand into new regions of the world.
For the Current Quarter and Next Generation, Green Dot (NYSE:GDOT) will report $312.45 million.
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Green Dot company profile: CFO Jess Unruh, Canadian Bank of Montreal Can, Principal Financial Group Inc. and Seizert Capital Partners LLC.
Article Title: Green Dot company profile: CFO Jess Unruh, Canadian Bank of Montreal Can, Principal Financial Group Inc and Seizert Capital Partners LLC | Cryptocurrency.
It’s official: there will be no fiat bank regulated by the Federal Reserve Board.
If you haven’t heard already, the green dot (also known as the greenback) is the currency of the United States government. In order words: no fiat bank account will be authorized to accept deposits over 1,000 USD. The green dot will be the basis for a new currency.
The green dot will be created as the new legal tender of the Fed’s gold reserve.
The green dot is a new currency for the United States. But that seems like it’s a stretch considering that it will be created by the same people who created our fiat currency.
It is obvious that creating the green dot is a dangerous and unconstitutional action. It is a major violation of basic civil rights for the government to create a currency from nothing.
For instance, the green dot already does not exist. To do so would require two things: 1- an agreement from Congress to make the green dot legal tender 2- a federal court to rule on that specific case.
In other instances, the green dot would be worthless to the United States.
The answer is: not the public.
It’s called “greenbacks.
So, the green dot will be created by the same public officials who created the fiat currency. The green dot will be made legal tender by people who can’t read and write anyway.
Of course, the public should get involved to help create a new currency. However, this isn’t an organization to create a green dot.
The Federal Reserve Banks, as part of the federal government, created the green dot. They created the green dot to fund the federal government’s war on the economy.
So, the green dot will be created by the private industry, not the government.
The Fed’s first order of business is to create trillions of dollars in currency out of thin air. And it hasn’t yet been done.
MarketBeat: Most active stocks: Volume Dollar vs. Share Volume
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Tips of the Day in Cryptocurrency
We see a rising number of countries banning private transactions, allowing the “public” to transact in virtual currencies. At the end of March, the European Commission announced it was allowing foreign banks to offer services to citizens to fund virtual currencies and to conduct trade and commerce. It is the first time an EU has opened up foreign bank services for virtual currencies.
The decision comes after years of EU bureaucracy and red tape for banks in order to regulate the private transfer of money. The new regulation would limit the types of banks that can offer financial services to private individuals, with the European Commission releasing details about the decision to its citizens. It claims that it requires banks to offer only two methods of financing payment for any transaction that could take place online: by means of wire transfer or by credit or debit card.
The regulation goes against “the fundamental principle of freedom of choice and the free movement of services,” the European Commission said in its release. “The European Union’s internal market will be severely hindered if financial institutions are denied the opportunity to access the internet to conduct their banking and financial operations.
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Spread the loveThe Green Dot (GDOT) cryptocurrency exchange platform has secured a $20 million funding round led by investment firm Digital Currency Group. The news comes a week ahead of GDOT’s quarterly report on its Q3 financials at which time it revealed a positive operating environment, strong growth in new cryptocurrency trading volume, increased capital…