Vault of Satoshi Founders Close Bitcoin Exchange to Focus on Netflix Startup
The owners of Vault of Satoshi have announced that they will be closing the notable Canada-based bitcoin exchange on 5th February due to the “insane” growth of a new business venture.
Though short on details in the official announcement, Vault of Satoshi co-founder Mike Curry told CoinDesk that the success of new venture TurboFlix has encouraged the exchange’s owners to switch focus. Launched six months ago, the service has gained popularity by allowing global Netflix users to bypass restrictions that limit their movie libraries.
Throughout the conversation, however, Curry stressed that the decision is a personal one for himself and his co-founder Ryan van Barneveld, and that it shouldn’t be perceived as a bearish sentiment toward the wider bitcoin market.
“If I wasn’t involved in [TurboFlix], I would still be running Vault of Satoshi because it’s very attractive. We set up the infrastructure for basically a financial services company. We’ve done everything the best way possible.”
This post was published at Coin Desk on January 5, 2015.