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Line 1: {{Short description\|Swiss digital asset trading company}} {{pp~~-semi~~\|small=yes}} {{Use mdy dates\|date=June 2016}} {{Infobox company \|name = ShapeShift \|logo = ShapeShift_new_logo.png \|logo_size = \|image = \|image_size = \|image_caption = \|type = ~~private~~Private \|traded_as = \|industry = ~~Digital Currency~~[[Cryptocurrency]] \|area_served = ~~global~~ \|key_people = Erik Voorhees \|products = Line 21 ⟶ 22: \|equity = \|num_employees = \|founder = [[Erik Voorhees]] \|homepage = {{URL\|~~http~~https:~~www.~~shapeshift.com}} \|foundation = July 2014 \|location = Switzerland }} '''ShapeShift''', founded in 2014 by Erik Voorhees was a [[cryptocurrency exchange]] headquartered in [[Switzerland]] that turned into a permissionless DAO operating on the blockchain. Its [https://app.shapeshift.com decentralized application] empowers users to trade the Bitcoin, Ethereum, and 10,000+ crypto assets across 14 chains. '''ShapeShift''' is a company that offers global trading of a variety of digital assets via [[internet\|web]] and [[Mobile device\|mobile]] platforms. It is headquartered in [[Switzerland]], but run out of [[Denver]].<ref name="wsj" /> The company first began requiring personal identication information from its customers on October 1, 2018.<ref name="wsj">{{Cite news \|url=https://www.wsj.com/articles/how-dirty-money-disappears-into-the-black-hole-of-cryptocurrency-1538149743 \|title=How Dirty Money Disappears Into the Black Hole of Cryptocurrency \|last=Shifflett \|first=Shane \|date=2018-09-28 \|work=Wall Street Journal \|access-date=2018-09-29 \|last2=Scheck \|first2=Justin \|language=en-US}}</ref>▼ == History == The company was founded July 1, 2014 in [[Switzerland]] by [[Erik Voorhees]]. InVoorhees ~~March~~cited ~~2015,~~the itcollapse ~~received~~of ~~a {{USD\|525,000}}~~the [[~~Seed~~Mt. ~~money~~Gox\|~~seed-stage~~Mt. Gox exchange]] ~~investment~~as bythe ~~[[Roger~~motive ~~Ver]]~~for ~~and~~creation ~~Barry~~of ~~Silbert~~Shapeshift.<ref>{{Cite web\|title=Interview with Erik Voorhees\|url=https://www.maxraskin.com/interviews/erik-voorhees\|access-date=2021-10-26\|website=Interviews with Max Raskin\|language=en-US}}</ref> In March 2015, the company received a {{USD\|525,000}} [[Seed money\|seed-stage]] investment by [[Roger Ver]] and Barry Silbert.{{cn\|date=January 2024}} Additional funding totaling {{USD\|1.6 million}} were raised by September 2015, from investors in a second funding round including [[Digital Currency Group]], [[Bitfinex]], Bitcoin Capital and Mardal Investments.<ref>{{Cite news\|url=https://techcrunch.com/2015/09/08/shapeshift-a-cool-cryptocurrency-converter-clinches-1-6-million-in-cash/\|title=ShapeShift, A Cool Cryptocurrency Converter, Clinches $1.6 Million In Cash\|last=Biggs\|first=John\|date=September 8, 2015\|work=TechCrunch\|access-date=2017-11-20\|language=en}}</ref><ref>{{cite web\|url=https://techcrunch.com/2015/09/17/this-week-on-the-techcrunch-bitcoin-podcast-million-dollar-electric-bill/\|title=This Week On The TechCrunch Bitcoin Podcast: Million-Dollar Electric Bill\|last=Wilhelm\|first=Alex\|date=September 17, 2015\|website=[[TechCrunch]]\|access-date=May 8, 2018}}</ref> ShapeShift released initially on the [[iOS]] platform in June 2015, allowing users to swap 25 [[digital currency\|digital currencies]] and value tokens.<ref name=forbes0150609> {{cite news \|last=Vinton\|first=Kate \|url=https://www.forbes.com/sites/katevinton/2015/06/09/shapeshift-founder-eric-voorhees-launches-ioss-first-cryptocurrency-trading-app/#23db7fa05162 \|title=ShapeShift Founder Erik Voorhees Launches First iOS Cryptocurrency Trading App \|work=[[Forbes]] \|date=2015-06-09 \|~~accessdate~~access-date=2016-06-28 }}</ref> As of September 2015, there were over 40 different [[digital currency\|digital currencies]] available for trade, providing 940 [[Currency pair\|trading pairs]], greater than any single exchange on the market. On 11 June 2015, ShapeShift "cut off service to [[New York (state)\|New York]] in response to the state’s new regulatory policy for digital currency businesses, ... [[BitLicense]]," which was released in June with the final regulations approved in August.<ref name=fortune20150611> {{cite news \|last=Roberts \|first=Daniel \|url=http://fortune.com/2015/06/11/bitcoin-shapeshift-new-york-bitlicense/ \|title=Bitcoin company ditches New York, blaming new regulations \|work=[[Fortune (magazine)\|Fortune]] \|date=2015-06-11 \|~~accessdate~~access-date=2016-06-28 }}</ref><ref name=fortune20150814> {{cite news \|last=Roberts\|first=Daniel \|url=http://fortune.com/2015/08/14/bitcoin-startups-leave-new-york-bitlicense/ \|title=Behind the "exodus" of bitcoin startups from New York \|work=[[Fortune (magazine)\|Fortune]] \|date=2015-08-14 \|~~accessdate~~access-date=2016-06-28 }}</ref><ref name=cnbc20150611> {{cite news \|last=Rosenfeld\|first=Everett \|url=https://www.cnbc.com/2015/06/10/company-leaves-new-york-protesting-bitlicense.html \|title=Company leaves New York, protesting 'BitLicense' \|work=[[CNBC]] \|date=2015-06-11 \|~~accessdate~~access-date=2016-06-29 }}</ref><!-- The refname=cnbc20150611 source provides more detailed info about the controversy in New York, including details of how the company responds when a New York geographic customer attempts to access company services. This may be useful to improve the article at some point. --> The company stated that if they had complied with the New York BitLicense regulations, then significant personal and private data would also have been in the hands of the hacker. In March of 2017, ShapeShift raised $10.4 million in series A funding from both US and international venture capital firms. Berlin-based Earlybird Venture Capital was the lead investor, with additional funding from [[Lakestar]], Access Venture Partners, Pantera Capital and [[Blockchain Capital]].<ref>{{cite web\|url=https://www.reuters.com/article/us-bitcoin-funding-shapeshift-idUSKBN1702FQ\|title=Digital asset exchange ShapeShift raises $10.4 million in funding~~\|author=Reuters Staff~~\|date=March 29, 2017\|publisher=Reuters\|access-date=2020-04-22}}</ref><ref>{{cite web\|url=https://www.venturebeat.com/2017/03/28/shapeshift-raises-10-4-million-to-grow-its-cryptocurrency-exchange-platform/\|title=ShapeShift raises $10.4 million to grow its cryptocurrency exchange platform\|author= Paul Sawers\|date= March 28, 2017 \|publisher=VentreBeat\|access-date=2020-04-22}}</ref>▼ Between March and April of 2016, Shapeshift experienced a total of 3 attacks which resulted in 469 [[Bitcoin\|BTC]], 1900 [[Litecoin\|LTC]] and 5800 [[Ethereum\|ETH]] stolen from their hot wallets. As a result, the Shapeshift team put Shapeshift.io offline through April 20 to rebuild Shapeshift's infrastructure with enhanced security protocols. ShapeShift, unlike many exchanges, did not require user identification, allowing for anonymous transactions. This lack of oversight enabled criminals, including North Korean hackers and Ponzi scheme operators, to [[money laundering\|launder]] nearly $90 million in criminal proceeds, with ShapeShift processing the largest portion of these funds among exchanges with U.S. presence. ShapeShift's policy facilitated the conversion of traceable cryptocurrencies like Bitcoin into untraceable ones like [[Monero]], effectively obscuring the money trail.<ref name="Casey">{{Cite news \|last1=Casey \|first1=Michael J. \|last2=Stynes \|first2=Tess \|date=2014-06-03 \|title=Bitcoin Entrepreneur Agrees to Pay $50,000 to Settle SEC Charges \|language=en-US \|work=[[Wall Street Journal]]\|url=http://online.wsj.com/articles/bitcoin-entrepreneur-agrees-to-pay-50-000-to-settle-sec-charges-1401829262 \|access-date=2023-12-29 \|issn=0099-9660\|url-access=subscription}}</ref><ref name="Swsj">{{Cite news \|last1=Scheck \|first1=Justin \|last2=Shifflett \|first2=Shane \|date=2018-09-28 \|title=How Dirty Money Disappears Into the Black Hole of Cryptocurrency \|language=en-US \|work=[[The Wall Street Journal]] \|url=https://www.wsj.com/articles/how-dirty-money-disappears-into-the-black-hole-of-cryptocurrency-1538149743 \|access-date=2023-12-29 \|issn=0099-9660 \|url-access=subscription}}</ref> A 2018 investigation by the ''[[Wall Street Journal]]'' alleged that ShapeShift had facilitated [[money laundering]] of $90 million in funds from criminal activities over a two-year period.<ref name="wsj" /> These allegations were proven inconclusive and were the result of a smear campaign against ShapeShift. ▲In March of 2017, ShapeShift raised $10.4 million in series A funding from both US and international venture capital firms. Berlin-based Earlybird Venture Capital was the lead investor, with additional funding from [[Lakestar]], Access Venture Partners, Pantera Capital and [[Blockchain Capital]].<ref>{{cite web\|url=https://www.reuters.com/article/us-bitcoin-funding-shapeshift-idUSKBN1702FQ\|title=Digital asset exchange ShapeShift raises $10.4 million in funding\|author=Reuters Staff\|date=March 29, 2017\|publisher=Reuters\|access-date=2020-04-22}}</ref><ref>{{cite web\|url=https://www.venturebeat.com/2017/03/28/shapeshift-raises-10-4-million-to-grow-its-cryptocurrency-exchange-platform/\|title=ShapeShift raises $10.4 million to grow its cryptocurrency exchange platform\|author= Paul Sawers\|date= March 28, 2017 \|publisher=VentreBeat\|access-date=2020-04-22}}</ref> ▲~~The~~Shortly ~~company~~after, ~~first~~the company began requiring personal ~~identication~~identification information from its customers on October 1, 2018.<ref name="wsj">{{Cite news \|url=https://www.wsj.com/articles/how-dirty-money-disappears-into-the-black-hole-of-cryptocurrency-1538149743 \|title=How Dirty Money Disappears Into the Black Hole of Cryptocurrency \|~~last~~last1=Shifflett \|~~first~~first1=Shane \|date=2018-09-28 \|work=Wall Street Journal \|access-date=2018-09-29 \|last2=Scheck \|first2=Justin \|language=en-US}}</ref> ~~In August 2017 ShapeShift announced it would stop functioning in the state of Washington because of BitLicense-style regulations imposed by the passage of Senate Bill 5031.~~ == References ==▼ {{~~Reflist~~reflist\|30em}}▼ ~~A 2018 investigation by the [[Wall Street Journal]] found that ShapeShift had processed $9 million in funds from criminal activities over a two-year period.<ref name="wsj" />~~ In November of 2019, ShapeShift announced that it would begin offering its users fee-free trading via an ERC-20 Token. 100 Fox tokens will be given to all registered ShapeShift users. Each token will enable its holder to $10 worth of free trading volume for rolling 30-day periods. <ref>{{cite web\|url=https://www.nasdaq.com/articles/shapeshift-is-launching-a-token-for-free-cryptocurrency-trading-2019-11-20\|title=ShapeShift Is Launching a Token for Free Cryptocurrency Trading\|author=Colin Harper\|date=November 20, 2019\|publisher=Nasdaq\|access-date=2020-04-23}}</ref> ▲== References == ▲{{Reflist\|30em}} {{~~Bitcoin~~Cryptocurrencies\|state=expanded}} ~~{{Cryptocurrencies}}~~ [[Category:Multinational companies headquartered in Switzerland]] [[Category:Financial services companies of Switzerland]] [[Category:~~Companies~~Swiss companies established in 2014]] [[Category:Bitcoin companies]] [[Category:Digital currency exchanges]]