eGifter Now Only Accepts Bitcoin Payments From Coinbase Wallet Owners

eGifter Now Only Accepts Bitcoin Payments From Coinbase Wallet Owners

Quite a few merchants are accepting bitcoin payments as we speak. That is not surprising as cryptocurrency is the only global payment solution available today. eGifter, a company selling digital gift cards in exchange for bitcoin, made some rather unusual changes. They only accept payments from Coinbase wallets, rather than using a normal payment gateway. A rather worrisome development hat raises a lot of questions. Digital gift cards and bitcoin go hand in hand these days. Quite a few platforms offer gift cards in exchange for bitcoin, which has worked out great over time. However, it appears eGifter is turning its back on this decision in a rather strange way. Whereas the company used to accept bitcoin payments through a regular payment processor page, that is...

IRS Seeks to Delay Hearing in Coinbase Data Dispute

The Internal Revenue Service is seeking to delay an upcoming hearing in its ongoing court dispute with digital currency exchange Coinbase, new court filings show. According to a stipulation and proposed order filed today in the US District Court for the Northern District of California, attorneys for the IRS have asked to delay a 16th February hearing on petitions by both Coinbase and one of its customers, each of whom have sought to formally intervene. The IRS had previously filed motions seeking to stop both sides from entering the case. Now, the US tax agency wants to push that hearing off until 23rd March because it is weighing whether to take additional action in the case, arguing that the hearing may ultimately prove to be unnecessary. Attorneys for the US...

The IRS is Trying to Keep Coinbase From Defending its Customer Data

Coinbase officially entered the fray in a court case over its user records earlier this month – and now the IRS is fighting back. In a 25th January court filing, lawyers for the US government argued that the San Francisco-based startup has no standing to intervene in the so-called “John Doe” summons case, through which the IRS is seeking bitcoin user records in a bid to identify potential tax cheats. The case, which saw Coinbase customer Jeff Berns file his own intervention effort late last year, has drawn harsh criticism from digital currency advocates amid accusations of overreach. Yet in its filing, the US tax agency is arguing that Coinbase doesn’t have a legal leg to stand on, citing the powers granted to it by Congress as part of its tax...

Fred Ehrsam, Cofounder of Coinbase Plans to Step Down

Fred Ehrsam, Cofounder of Coinbase Plans to Step Down

Fred Ehrsam, one of the founders of Coinbase, the leading Bitcoin company has decided to move on to brighter pastures. The cryptocurrency entrepreneur mentioned his intentions in a blog post three days ago. According to Fred, he will be stepping down from the current position in Coinbase by the end of January 2017. He has started the exit process by gradually shedding his responsibilities over time. After seven long years, he seems to be taking a well-deserved break. Fred Ehrsam’s blog post also serves as a “thank you” note to fellow co-founder Brian Armstrong and rest of the company’s employees. “I’m thankful for all of the faith everyone around the company has put in me and the experiences we’ve had together. To Brian: I cherish the lifelong friendship...

Coinbase Co-Founder Fred Ehrsam is Leaving the Company

Coinbase Co-Founder Fred Ehrsam is Leaving the Company

Former Goldman Sachs trader and Coinbase co-founder Fred Ehrsam is leaving the San Francisco bitcoin startup for new opportunities. Revealed to the company today via an internal meeting, Ehrsam told CoinDesk he intends to now “step back” from his daily duties at the end of January, take some time off, and potentially, plot a new venture in the blockchain industry. “There’s a high probability it will be in the crypto space,” he said. Ehrsam will continue to hold a position on the Coinbase board. When asked about the reasons behind the move, Ehrsam said that he believes both the company and the wider blockchain industry to be at an “inflection point”. “This is the first time I’ve thought it could support a...