Venezuela’s Currency Rout Hits a New Milestone at 200,000 per Dollar

Venezuela’s currency crossed a new barrier this week as hyperinflation exploded and Nicolas Maduro’s government readied a cryptocurrency issuance next month.

Free-Fall

Venezuela's bolivar slides past 200,000 per U.S. dollar on black market

Coinbase Courts Hedge Funds With Institutional Storage Service

Cryptocurrency wallet and exchange startup Coinbase is launching a new storage service aimed specifically at institutional investors.

Coinbase Custody, CEO Brian Armstrong wrote in a new blog post published today, is aimed at those who have a minimum of $10 million in deposits. In order to utilize the service, users would need to pay the initial $100,000 set-up fee, along with a 10 basis point fee per-month on the coins stored within the system (although these prices could change over time, Coinbase added).