Commodities Shipper Seeks $150 Million to Start Digital Coin

By Isis Almeida (Bloomberg) -- The shipping agency that struck the first freight deal settled in Bitcoin is now seeking $150 million to launch its own cryptocurrency. Prime Shipping Foundation, a partnership between Gibraltar-based Quorum Capital Ltd. and ship broker Interchart LLC, is looking to raise the funds by midyear in a so-called initial coin offering. Using its own … [Read more...]

Bitcoin Used to Settle First Freight Deal

By Isis Almeida (Bloomberg) -- Cryptocurrencies are making inroads into food commodity trading. The first freight deal settled in Bitcoin was executed last month on a vessel carrying wheat from top shipper Russia to Turkey, according to Prime Shipping Foundation, the venture behind the transaction. The consignment was part of pilot testing of Prime Shipping Foundation’s … [Read more...]

The Most Expensive Cruise Ever – Cryptocurrency Geeks Lose Millions While Aboard Ship

By Blake Schmidt (Bloomberg) When 600 cryptocurrency enthusiasts set sail from Singapore on Monday night for their second annual Blockchain Cruise, the price of Bitcoin was hovering comfortably above $13,500. By the time their 1,020-foot-long ship pulled into Thailand on Wednesday, for an afternoon of bottomless drinks and crypto-focused talks on a sun-soaked private beach, … [Read more...]

Bitcoin Makes First Appearance in Shipping as Ukrainian Firm Plans Deal

By Manisha Jha (Bloomberg) -- A Ukrainian shipping company will start accepting payment in bitcoin -- an early sign that the cryptocurrency could be used in international commodity trading. Varamar Ltd. is negotiating its first deal in bitcoin with a client, according to Alexander Varvarenko, founder of the Odessa-based shipper. Bitcoin will make it easier to do business … [Read more...]