blockchain capital

Brock Pierce and Blockchain Capital Sue Florida-Based Company for Copyright Infringement

Brock Pierce and his business partners are suing Blockchain Capital Management LLC (BCM) for copyright infringement.

Together with Bart Stephens and Bradford Stephens, Brock Pierce co-founded Blockchain Capital in 2013. Blockchain Capital filed a complaint with the District Court of Florida against Blockchain Capital Management LLC for using the same name to conduct business. Though the latter thrived mainly in the financial sector, plaintiffs said that operating under the same name would bring about confusion in official documents and day-to-day transactions.

In the complaint, Blockchain Capital expressed that it would like BCM to remove Blockchain Capital from its title, as it was an infringement on the venture capital firm’s trademark. It also said that BCM and its founder Fareed Ifthikar had not responded to the venture capital company’s requests or to its letters, and consequently this led to the firm seeking legal action.

The San-Francisco based company is said to be one of the oldest blockchain venture firms in its industry, with a $13 million investment fund for Bitcoin (BTC) and more than 70 blockchain projects under its management. Through an initial coin offering (ICO), the company also managed to raise $150 million in 2018 as well.

It has been speculated that BCM will likely comply with Blockchain Capital’s requests, but at the time of writing, official details are still in the works.

Brock Pierce for President

Co-founder of Blockchain Capital—Brock Pierce—is a presidential hopeful and had previously announced his intentions to run as an Independent candidate in the 2020 US elections. Brock Pierce is a known venture capitalist and is reputed for being a successful entrepreneur, pioneering the market for cryptocurrency all the while. He has successfully raised more than $5 billion for venture capital firms he took under his wing. Speaking about his aspirations during his campaign announcement, Brock Pierce had said:

“Entrepreneurs are essential to the rebuilding of this nation that we love, and I’m running in this race because I know that together we can help build a pathway towards the rebirth of the America we love so much.”

Recently, the Blockchain Capital co-founder announced that he had recruited Akon as a chief strategist for his presidential campaign run. The Grammy-nominated artist is also quite a crypto pioneer himself, as he is working on building a cryptocurrency-run city in Senegal, dubbed Akon City.

Blockchain Capital Joins the Libra Association as Newest Governing Member

The Libra Association has announced Venture capital firm Blockchain Capital as its newest member.

Blockchain Capital is a San-Francisco-based investment firm with deep expertise and reach in the blockchain sector. The company was founded in 2013, and since then, it has become one of the leading venture capital firms in the cryptocurrency and blockchain space. The firm has invested in more than 80 industry companies, including Bison Trails, Kraken, Ripple, Coinbase, and Anchorage.

Blockchain Capital To Assist in Building More Integrated Payment System

According to the announcement, Blockchain Capital, together with the other 26 members of the governing Libra Association, will build a “more equitable payment system” for the Libra cryptocurrency project. Blockchain Capital will be the 27th member of the governing Libra Association, which was unveiled in June 2019 with the aim of recruiting 100 members to launch a global stablecoin.

The Association stated that Blockchain Capital would assist in advising the development of its global payment system.

Dante Disparte, Libra’s head of policy and communications, said that Blockchain Capital would also make its network of industry figures and experts available for the Association’s use.

Bart Stephens, managing partner and co-founder of Blockchain Capital, said:

“We’re honored to join the Libra Association and believe deeply in the mission of creating a more equitable payment system. Leveraging blockchain technology to improve financial access and promote innovation has been at the core of Blockchain Capital’s portfolio strategy.”

Blockchain Capital, the newest member, joins the Libra cryptocurrency project three months after the Association added venture firms Paradigm and Slow Ventures and Singapore-based investment firm Temasek as its members.

Libra Scales Back Ambitions for Global Cryptocurrency

In June 2019, Facebook launched the Libra project, with several global companies such as eBay, Visa, PayPal, Stripe, MasterCard, and many more became the founding members of the Association. However, regulators and central banks across the globe had fears, saying that Libra’s original plan for a single coin backed by government debt and various currencies could erode the power and control of national sovereignties over money if widely adopted by Facebook’s 2.7 billion users.

Many of its members left Libra after the Association began experiencing regulatory pressure globally.

In April this year, the Association radically overhauled the project and formally applied for a Swiss payment license in the hope of winning regulatory approval. Since then, the Association has focused on reinforcing its staffs with high-powered leadership skills and deep expertise in traditional finance and regulatory enforcement.

A few days ago, Libra Association picked the former CEO of HSBC Europe, James Emmet, as the managing director of Libra Networks LLC. In May this year, the Facebook-backed project also appointed Stuart Levey, the former chief legal officer at HSBC, as the CEO of Libra Association.

Breaking: Coinbase, a16z, and Ledger Back New Texas Alliance Advocating for Clear Digital Asset Regulations

As the federal government grapples with establishing clear guidelines for digital assets, Texas emerges as a potential frontrunner in the crypto regulatory landscape. Today marks the launch of the Crypto Freedom Alliance of Texas, an entity committed to advocating for transparent and consistent digital asset regulations in the state.

Major Industry Players Rally Behind the Alliance

The Alliance isn’t a standalone endeavor. It boasts the backing of some of the crypto and blockchain industry’s most recognized names, including a16z crypto, Bain Capital Crypto, Blockchain Capital, Coinbase, Ledger, and Paradigm. This coalition, rich in technical and legal expertise, underscores the significance and potential impact of the Alliance’s mission.

A Proactive Stance in the Face of Federal Inertia

The federal government’s challenges in passing clear digital asset legislation present states with a unique opportunity. Texas, with its history of fostering innovation, is well-positioned to lead. The Alliance aims to be a cornerstone for regulators and industry stakeholders in Texas, offering insights and guidance on the rapidly evolving world of digital assets.

Kinjal Shah, Chair of the Crypto Freedom Alliance of Texas and General Partner at Blockchain Capital, emphasized the state’s potential role.

In the face of federal inaction, Texas has the opportunity to lead with policies that not only safeguard consumers and investors but also catalyze innovation,

Shah remarked.

Alliance’s Pillars: Regulation, Collaboration, Education, and Innovation

The Alliance’s objectives are clear-cut:

Transparent Regulation: At its core, the Alliance seeks to develop clear and predictable regulations for digital assets in Texas. The goal is to strike a balance – fostering innovation while ensuring consumer protection.

Stakeholder Collaboration: Recognizing the multifaceted nature of the digital asset space, the Alliance is dedicated to promoting dialogue and cooperation among regulators, consumers, and industry participants.

Education as a Catalyst: The Alliance believes in the power of education to shape favorable crypto policies. Targeted initiatives aim to enlighten a spectrum of audiences, from government officials to nonprofits, about the potential of Web3 technologies.

Championing Blockchain Ventures: Beyond regulations, the Alliance is committed to nurturing the blockchain ecosystem. Through mentorship and educational endeavors, the goal is to bolster the growth of startups and entrepreneurs in the crypto domain.

With its launch, the Alliance is poised for growth, eyeing an expanded membership and a more influential role in the Texas legislative process. An official launch event is slated for September 12 in Austin.

About the Crypto Freedom Alliance of Texas

A 501(c)6 non-profit, the Crypto Freedom Alliance of Texas champions transparent digital asset regulations in Texas. Its foundation is strengthened by the support of industry leaders like a16z crypto, Bain Capital Crypto, Blockchain Capital, Coinbase, Ledger, and Paradigm.

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