Genesis Coin Inc. Acquired by Pioneers Andrew Barnard and Doug Carrillo, Ether Jumps to $1,600

Genesis Coin Inc., the first and largest Bitcoin ATM software platform worldwide, has been acquired by early Bitcoin ATM pioneers Andrew Barnard and Doug Carrillo, co-founders of Bitstop.^[0] Established in 2013, Genesis Coin’s technology is responsible for around 35% of worldwide Bitcoin ATM operations.^[0] With this acquisition, Barnard will become Chief Executive Officer and Carrillo will become Chief Strategy Officer and both will join the Board of Directors of Genesis Coin.^[1] Meanwhile, Evan Rose, Genesis Coin’s founder, will stay on as a technical advisor and remain a member of the company’s Board of Directors.^[1]

The Genesis Coin headquarters will move to Miami, Florida, and the two platforms will continue to run independently while exploring technical synergies.^[1] Genesis Coin has brought on a number of new employees to its development team, with their primary focus on product creation.^[1] Barnard and Carrillo have emphasized the importance of continuing to provide stability to both platforms and continuing to service the needs of operators on both platforms.^[1]

The decision to make Bitcoin a legal tender in El Salvador has been welcomed by the crypto community, however, several media outlets and economists have expressed concern over the potential risk to El Salvador’s economy.^[2] They predicted that without an agreement with the International Monetary Fund (IMF), El Salvador will not be able to pay its debt due to the falling Bitcoin price.^[2]

Ether, the second-biggest digital coin, recently surpassed $1,600 for the first time since November 7th, 2022, trading at $1,639.30 as of 6.40am ET.^[3] According to our crypto price tracker, ether jumped 1.20 percent in value on Tuesday.^[4]

To buy, sell or trade Bitcoin Cash, funds must be in your crypto wallet, where it can be used to buy and trade Bitcoin Cash or any other supported cryptocurrency. Payment methods available include credit cards, debit cards, bank transfers, and other digital payment services. For more information on buying and trading Bitcoin Cash, visit Bitcoin Depot.

0. “Bitstop Founders Acquire Largest Bitcoin ATM Software Platform …” www.btctimes.com, 24 Jan. 2023, https://www.btctimes.com/news/bitstop-founders-acquire-largest-bitcoin-atm-software-platform

1. “Genesis Coin Inc, Powering 35% of Global Bitcoin ATM …” www.finanznachrichten.de, 24 Jan. 2023, https://www.finanznachrichten.de/nachrichten-2023-01/58134956-genesis-coin-inc-powering-35-of-global-bitcoin-atm-transactions-acquired-by-bitstop-founders-015.htm

2. “El Salvador now debt-free thanks to Bitcoin! – Coinpri” coinpri.com, 24 Jan. 2023, https://coinpri.com/news/bitcoin/el-salvador-now-debt-free-thanks-to-bitcoin/

3. “Bitcoin’s 2023 rally gathers steam as cryptocurrency briefly tops US …” www.dimsumdaily.hk, 24 Jan. 2023, https://www.dimsumdaily.hk/bitcoins-2023-rally-gathers-steam-as-cryptocurrency-briefly-tops-us23000/

4. “Bitcoin, Ether Continue Upward Trajectory as Most Cryptocurrencies …” www.technologyforyou.org, 24 Jan. 2023, https://www.technologyforyou.org/bitcoin-ether-continue-upward-trajectory-as-most-cryptocurrencies-record-profits-all-details/