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Undid revision -- there are no cryptocurrency sites listed. Coindesk and cointelegraph is a credible industry news source. I am the Marketing director of ShapeShift and believe that this is an accurate historical and factual representation substantiated by public sources. 1229368115 by David Gerard (talk) |
David Gerard (talk | contribs) Restored revision 1229368115 by David Gerard (talk): Rv WP:COI edit, coindesk is *specifically* found Generally Unreliable and cointelegraph literally advertises its pay for play rates |
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In March 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|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>
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.
Shortly after, the company began requiring personal 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 |last1=Shifflett |first1=Shane |date=2018-09-28 |work=Wall Street Journal |access-date=2018-09-29 |last2=Scheck |first2=Justin |language=en-US}}</ref>
== References ==
{{reflist|30em}}
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