It is hard not to notice James Altucher because his image with his bizarre hair, along with his comment on fund, is around the net. Nowadays Altucher’s phrases are tethered to this topic of cryptocurrencies. Altucher has existed the fiscal circuit for quite a while as a renowned writer, entrepreneur, and he is occasionally called a “guru.” This week it was shown in a U.S. Securities and Exchange Commission (SEC) filing that Altucher is financing a firm called Bitzumi, Inc., which intends to launch a bitcoin exchange.
“Bitzumi is a vertically-integrated Bitcoin exchange and market. Our duty is to drive expansion into the cryptocurrency sector — We plan to establish our company branches with a phased strategy,” describes the company’s SEC filing on January 4.
Initially, our primary focus will be to develop a publishing and marketing company to educate potential Bitzumi exchange/wallet consumers, and to gain name recognition — Ultimately, we intend for our primary product to be our cryptocurrency exchange and digital storage — We also plan to develop various educational and information products and newsletters focusing on the cryptocurrency industry.
Bitzumi Exchange Plans to Raise $10 Million and Publish a Newsletter Backed by James Altucher
The co-founder, Altucher, along with his firm aspire to raise $10 million USD, using a minimum of1Mn to get Bitzumi‘s initial stages. The first stage will be a newsletter secured by Altucher, and also the company started period on October 9, 2017, when Bitzumi Publishing partnered with Altucher’s Agora Financial, LLC. Stage two are the exchange and wallet program, two solutions which Bitzumi claims will compete with the likes of big exchanges like Bitstamp. Originally, Bitzumi provides bitcoin, litecoin, ripple, and ethereum trades.
Bitzumi’s application particulars that the company will also supply cryptocurrency payment processing and escrow features. Also, the exchange will be completely controlled working together with U.S. officials in Fincen, SEC, CFTC, and the IRS. The company venture appears like it’s going to be relying heavily on Altucher’s backing along with his publication, but Bitzumi is going to be directed by the chief executive officer, Scot Cohen, an executive concerned in oil and gas things. Turning into a company involved with popular electronic monies, Bitzumi intends to be put as a “emerging development company” the submitting highlights.