Fidelity-Backed Startup Fireblocks Is Now Certified Secure by Ernst & Young

Fidelity-Backed Startup Fireblocks Is Now Certified Secure by Ernst & Young

Digital asset security firm Fireblocks has successfully completed a major examination carried out by Big Four auditing firm Ernst & Young

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New York-based digital asset security firm Fireblocks has successfully completed a major examination carried out by Big Four auditing firm Ernst & Young (EY).

Fireblocks, which provides an institutional-grade platform for secure transfer of blockchain-based digital assets, received the Service Organization Control (SOC) 2 Type II certification performed by EY, the firm said in a press release shared with Cointelegraph on Dec. 19.

Following multiple EY inspections, which reportedly took more than six months, Fireblocks is now recognized as a company providing technology and services that meet existing strict security and data protection laws worldwide. As such, global Fireblocks’ customers can be sure that their data is protected and compliant with their company controls, policies and regulatory requirements, the firm claimed in the announcement.

Fireblocks is in talks with financial players on Wall Street

The new certification will purportedly allow Fireblocks to attract more financial players as Fireblocks has already entered talks with Wall Street firms, a representative of Fireblocks confirmed to Cointelegraph. The names of new potential partners could not be disclosed because these conversations are in progress, the spokesperson said.

Michael Shaulov, CEO and co-founder of Fireblocks, emphasized the importance of the fact that the company was examined by a third party to prove that Fireblocks stands “above and beyond the highest industry standard.” The SOC report will be tracked on an annual basis to ensure that the platform is operating in compliance with guidelines that span technology architecture, development and other operations, the press release notes.

At least 20 crypto exchanges including OKEx and HitBTC integrated

Since launching in June 2019, Fireblocks has secured over $9 billion in digital asset transfers, Fireblocks CTO and co-founder Idan Ofrat said.

As reported by Cointelegraph, the firm was launched out of stealth mode with $16 million in funding secured from high-profile investors including Eight Roads, the investment arm of major investment management firm Fidelity International. Fireblocks’s platform was integrated with 20 cryptocurrency exchanges like OKEx and HitBTC as of September 2019 and reportedly has crypto merchant bank Galaxy Digital as one of its customers.


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Digital asset security firm Fireblocks has successfully completed a major examination carried out by Big Four auditing firm Ernst & Young

Fidelity-Backed Crypto Analytics Firm to Integrate Twitter-Based Crypto Sentiment Feed

Fidelity-Backed Crypto Analytics Firm to Integrate Twitter-Based Crypto Sentiment Feed

Fidelity-backed Coin Metrics and Social Market Analytics team up to provide feed of crypto sentiment based on Twitter posts

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Crypto analytics firm Coin Metrics partnered with Social Market Analytics (SMA) to collaborate on a feed of real-time sentiment towards cryptocurrency based on social media data, according to a press release on June 17.

The new partnership intends to collect and analyze data posted by crypto community on social media in order to provide a new tool to help crypto traders to track social media sentiment data to build their portfolio strategies.

The new product will initially target sentiment data solely on social media giant Twitter, Coin Metrics CEO Tim Rice confirmed to Cointelegraph, adding that the firms are currently not considering integration of the service into Facebook.

Specifically,Coin Metrics will incorporate the product into market data platform, called the SMA cryptocurrency Sentiment Feed, providing calculated metrics of data on Twitter, according to a report by crypto media outlet The Block. In the report, Rice said that the calculation algorithms would include relevant tweets and calculate “19 different aggregate sentiment metrics down to snapshots of one minute.”

Social Market Analytics is providing social media-powered predictive data analytics to traditional capital markets participants in various markets, including stocks, forex, Exchange-Traded Funds (ETFs), futures, among others. Since its establishment in 2012, SMA has been a Twitter Finance partner, the firm’s CEO Joe Gits stated in an email to Cointelegraph.

Meanwhile, Coin Metrics is backed by major American investment management company Fidelity in February 2019, which participated in a $1.9 million funding round in February 2019.

Earlier today, social media giant Facebook released the white paper for its long-anticipated cryptocurrency and blockchain-powered financial project known as Libra stablecoin.


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Fidelity-backed Coin Metrics and Social Market Analytics team up to provide feed of crypto sentiment based on Twitter posts