Cryptocurrency is making waves in the world of technology and investment, and a lot of organisations are already taking advantage of it. Some of these organisations are using it as a means of payment while others are an investment in it because of its promising future.

Some of the organisations will now be examined fully.

Top 30 Cryptocurrency Organisations

1. Coinbase

If you want to trade in digital currencies, you are going to need a platform on which to trade them, and an intermediary to communicate with the network. Coinbase is a global digital asset exchange company (GDAX), providing a venue to buy and sell digital currencies, as well as send information about those transactions out to the blockchain network to verify those transactions.

Read Also: Top 10 Best Cryptocurrency Trading Sites

Coinbase serves as a wallet, too, where the digital currencies can be stored. The application operates exchanges of Bitcoin, Ethereum, Bitcoin Cash, and Litecoin, as well as other digital assets with fiat currencies in 32 countries, and Bitcoin transactions in many more countries.

According to its website, Coinbase has served over 10 million customers and facilitated the exchange of more than $50 billion worth of digital currency.

Essentially, if you are interested in trading in digital currencies but don’t want to get bogged down in the underlying technology, products like Coinbase are a way to begin a foray into a new form of currency speculation and investing. You do, however, lose some of the advantages of trading in a cryptocurrency and through the blockchain.

On Coinbase, you have no pseudo-anonymity—your name is attached to your Coinbase account and so is your bank account, so transaction history is relatively easy to track down. And if you’re not working on the blockchain, there’s not much you can do to ensure that the verification of your transaction history or your account is taking place on the blockchain. You are, instead, placing trust in the intermediary, in this case, Coinbase.

Coinbase has two core products: a Global Digital Asset Exchange (GDAX) for trading a variety of digital assets on its professional asset trading platform, and a user-facing retail broker of Bitcoin, Bitcoin Cash, Ether, Ethereum Classic, and Litecoin for fiat currency.

It also offers an API for developers and merchants to build applications and accept payments in both digital currencies. As of 2018, the company offered buy/sell trading functionality in 32 countries, while the cryptocurrency wallet was available in 190 countries worldwide. On March 26, 2018, Coinbase announced their intention to add support for ERC-20 tokens.

2. Binance Exchange

Binance Exchange is one of the popular cryptocurrency exchanges that offers trading in more than 45 virtual coins including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Binance Coin (BNB).

Primarily known for crypto-to-crypto trading—that is, trading between two cryptocurrency pairs—Binance exchange has gained immense popularity because of its low transaction fees, high liquidity, and additional discounts if users pay in the native BNB cryptocurrency tokens.

Binance is based in Tokyo, Japan. Its exchange services were launched in 2017. It claims high standards of safety and security with multi-tier and multi-clustered architecture and delivers high processing throughput with the capacity to process around 1.4 million orders per second.

It supports trading in more than 150 coins, including popular ones like Bitcoin, Ethereum, Litecoin, and its own native BNB tokens, and the list continues to grow.

Like a standard exchange, it offers services around the trading, listing, fundraising, and de-listing or withdrawal of cryptocurrencies. Cryptocurrency enthusiasts willing to launch their own tokens can use Binance for raising funds through initial coin offerings (ICOs). Binance is used by a large number of traders and participants for exchanging and investing in various cryptocurrencies.

To start trading, users have to complete the necessary KYC requirements. Upon successful trading account creation, users can add cryptocurrency funds to their public wallet address provided by Binance to start trading.

Binance currently supports three types of trade orders: limit, market, and stop limit orders. Limit orders are executed only at the limit price set by the trader, market orders are executed immediately at the best available market price, while stop limit orders become valid orders only when the price reaches a specified level.

There is no fee charged for cryptocurrency/fund deposits, though withdrawals come with a transaction fee that varies depending upon the cryptocurrency.

3. Kraken

Kraken is a marketplace for digital assets where buyers, sellers, traders and speculators come together to exchange cryptocurrencies like Bitcoin, Ethereum, Litecoin and Ripple against national currencies like USD, EUR, CAD and JPY. Clients trading larger sizes benefit from our principal Over-the-Counter (OTC) desk and white glove service.

Advanced traders and technical analysis wizards can take advantage of our professional charting tools. Software engineers, botters and hobbyist automators have available both REST and Websocket APIs with which trades can be made and market information obtained. Kraken provides 24/7 live chat support for any questions you have about getting started.

Kraken is a 100% legit cryptocurrency exchange for both beginners and serious traders. Its vast selection of features, low fees, clear user interface, and liquidity is definitely an attraction. However, it’s not the best option if you’re looking for a place to buy cryptocurrencies quickly since it does not accept bank card deposits.

Aside from that, it is a top tier exchange with some of the best security practices in the industry, so if you don’t mind passing all the extensive KYC procedures, it’s definitely a great exchange to have in your trading arsenal.

4. eToro

 eToro has millions of clients in over 140 countries. Starting in mid-2018, U.S.-based customers in registered states have access to a subgroup of assets (by regulation) that the brokerage enables, focused primarily on cryptocurrencies. 

At its start, eToro was a graphics-intensive forex platform and it has adapted those tools for crypto trading. Non-U.S. customers can trade additional asset classes such as contracts for difference (CFDs) and stocks on a variety of exchanges. In this review, we will call out the different capabilities of eToro for U.S. residents versus non-U.S. clients. 

United States residents who live in Delaware, Illinois, Minnesota, Nebraska, New Hampshire, New York, Nevada, Puerto Rico, or Tennessee can sign up for an account but cannot yet trade. Residents of Hawaii, Guam, American Samoa, and the US Virgin Islands may not become customers. The firm is registered in all other states, allowing those residents to open accounts and trade. 

The platform is well-tailored for those with a basic understanding of forex and cryptocurrency trading. The much-disliked withdrawal fee was eliminated for U.S. customers, though there is still a $5 fee for clients in other countries.

eToro offers only cryptocurrencies to U.S. residents. Outside the U.S., it depends on your nationality and country of residence. U.S. citizens cannot open an account unless they reside in the U.S. There are no short sales, fixed income, options, or mutual funds offered. 

• Eligible U.S. customers: 15 cryptocurrencies 
• Non-U.S. customers: 16 cryptocurrencies
• Non-U.S. customers: 47 currency pairs
• Non-U.S. customers: 30+ Contracts for difference (CFDs)
• Non-U.S. customers: Approximately 2,000 stocks and 150 exchange-traded funds (ETFs) from 16 countries

5. Bitfinex

Bitfinex is a cryptocurrency exchange owned and operated by iFinex Inc., which is headquartered in Hong Kong and registered in the British Virgin Islands. Their customers’ money has been stolen or lost in several incidents, and they have been unable to secure normal banking relationships.

In 2015 the exchange’s customers were hacked, losing about $400,000, and in 2016 about $73 million more was stolen from its customers’ accounts. The exchange’s access to U.S. dollar payments and withdrawals was then curtailed. In October 2018, Bitfinex again had serious difficulties with its banking relationships. Its management stated, “Bitfinex is not insolvent on October 7.”

In April 2019 New York Attorney General Letitia James filed a suit accusing Bitfinex of using the reserves of Tether, an affiliated company to cover up a loss of $850 million to a Panamanian payment processor known as Crypto Capital Corp. Reggie Fowler, who is alleged to have connections with Crypto Capital, was indicted on April 30, 2019, for running an unlicensed money transmitting business for cryptocurrency traders.

Research suggests that price manipulation of bitcoin on Bitfinex accounted for about half of the price increase for bitcoin in late 2017.

According to a statement by Bitfinex prior to the offering of $1 billion in tokens, Bitfinex had a net profit of $404 million in 2018. These results were not audited, nor prepared under Generally Accepted Accounting Principles

6. Bitstamp

Bitstamp is a bitcoin exchange based in Luxembourg. It allows trading between USD currency and bitcoin cryptocurrency. It allows USD, EUR, bitcoin, XRP, ethereum, litecoin, or bitcoin cash deposits and withdrawals.

The company was founded as a European-focused alternative to then-dominant bitcoin exchange Mt. Gox. While the company trades in US dollars, it accepts fiat money deposits for free only via the European Union’s Single Euro Payments Area, a mechanism for transferring money between European bank accounts.

Bitstamp offers an API to allow clients to use custom software to access and control their accounts.

7. Robinhood

Robinhood Markets, Inc. is an American financial services company headquartered in Menlo Park, California. The company offers a mobile app and website that offer people the ability to invest in stocks, ETFs, and options through Robinhood Financial and crypto trading through Robinhood Crypto.

Robinhood operates a website and mobile apps for iPhone, Apple Watch, and Android. The company has no storefront branches and operates entirely online without fees.

Robinhood is a FINRA regulated broker-dealer, registered with the U.S. Securities and Exchange Commission, and is a member of the Securities Investor Protection Corporation. The company’s main source of revenue comes from interest earned on customers’ cash balances, selling order information to high-frequency traders and margin lending. The company has 10 million users.

Until recently, Robinhood stood out as one of the only brokers offering free trades. But with many big-name online brokers eliminating trading commissions and fees in late 2019, Robinhood’s bright light has dimmed a little. That said, it’s still a solid choice, and currently it’s one of the few brokers that gives investors the opportunity to trade cryptocurrency.

Robinhood offers both web and mobile trading, but the platforms are purposely bare bones, and some investors may find the range of tradable securities and account options lacking.

8. CoinMarketCap

CoinMarketCap was founded in 2013. The leading site that lists all of the different cryptocurrencies in order of market capitalization. This page provides various data on several listed coins, such as their price, circulating supply, transaction volume or market value over the past 24 hours.

Currently, tracks 1695 cryptocurrencies, supporting 13 languages including English, French, Arabic, and Spanish, And support for 32 different fiat currency displays.

CoinMarketCap’s various types of information are meticulously classified. They provide real-time and historical data on the price, market value, and volume of almost all cryptographic tokens. You can choose to view statistics for Coins, tokens or all cryptocurrencies separately.

This is a great place to start researching cryptocurrencies because it has links to resources such as official websites, message boards, Github accounts and social media accounts.

Undoubtedly, the huge user volume and high popularity make CoinMarketCap a leader in the coin’s industry. For everyone who is engaged in cryptocurrency, CoinMarketCap has provided a lot of help and It’s an indispensable tool.

But as CoinMarketCap once said, they are not responsible for reviewing the advertising companies and the companies they list in the index of different cryptocurrencies. Their job is to list coins, as well as advertising. So when you are selecting a program, you need to pay more attention.

9. LocalBitcoins

LocalBitcoins is a peer to peer bitcoin marketplace based in Helsinki, Finland. Its service facilitates over-the-counter trading of local currency for bitcoins. Users post advertisements on the website, where they state exchange rates and payment methods for buying or selling bitcoins.

Other users reply to these advertisements and make the payment in a specified payment method. LocalBitcoins has a reputation and feedback mechanism for users and an escrow and conflict resolution service. As of December 2013, LocalBitcoins has around 110,000 active traders with a trade volume of 1,400–3,000 bitcoins per day.

The website offers a service to facilitate the locating of other Bitcoin users can meet others for person to person trading of bitcoin. The site is suggested for casual traders seeking more privacy. The site uses an escrow system, and the transfer of bitcoin is made after funds are received in the sellers account

10. Luno

Luno is a cryptocurrency exchange aimed mainly at emerging markets. Luno offers Bitcoin services to countries such as Malaysia, Nigeria and Indonesia which are usually not allowed on most Bitcoin exchanges. While Luno offers very competitive fees, it’s fee schedule is confusing and its important to check in advance how much you’ll pay.

The company is highly focused on the main cryptocurrencies in countries that are usually overlooked by most other exchanges. The website is solid, supplying users with all of the basics for buying or trading cryptocurrencies.

Putting the limited geo availability aside (as this is more of a feature than a downside), the only thing you will look out for is the dynamic fee schedule. Since each country and action you take on the site has different fees, it’s important to make sure you don’t end up overpaying because of a hidden fee.

11. U.S. Securities and Exchange Commission

The U.S. Securities and Exchange Commission (SEC) is an independent federal government regulatory agency responsible for protecting investors, maintaining fair and orderly functioning of the securities markets, and facilitating capital formation.

It was created by Congress in 1934 as the first federal regulator of the securities markets. The SEC promotes full public disclosure, protects investors against fraudulent and manipulative practices in the market, and monitors corporate takeover actions in the United States. It also approves registration statements for bookrunners among underwriting firms.

Generally, issues of securities offered in interstate commerce, through the mail or on the Internet, must be registered with the SEC before they can be sold to investors.

Financial services firms—such as broker-dealers, advisory firms, and asset managers, as well as their professional representatives—must also register with the SEC to conduct business. An example: they would be responsible for approving any formal bitcoin exchange.

12. Cointelegraph

Cointelegraph is a completely independent publication covering cryptocurrency, the blockchain, decentralized applications, the internet of finance and the next gen web. They offer the latest news, prices, breakthroughs and analysis with emphasis on expert opinion and commentary from the digital currency community.

The world of digital currencies flourishes with the greater fervor with each passing day. With an increasing number of businesses, entrepreneurs, startups and consumers adopting this technology, they are proud to spend every day at work and play increasing awareness of the many intricacies and advantages offered by these innovations.

Cointelegraph was founded in 2013 when cryptocurrency was about to hit a peak. They could see clearly the market for information in this vertical would be growing and understood the potential for our media group to establish ourselves as the trusted information source for this niche. In 4 years, They have become a known leader in the cryptocurrency information market.

13. Ledgerx

LedgerX (founded 2014) is an institutional Bitcoin derivatives exchange based in New York City. They offer Bitcoin Mini Options and soon, Bitcoin Futures. LedgerX was granted a derivatives clearing organization (DCO) license by the U.S. Commodity Futures Trading Commission (CFTC), making it the first private company to being able to exchange and clear cryptocurrency derivatives. It would enable LedgerX to not only exchange and clear Bitcoins, but potentially a broader range of markets such as Ethereum.

On June 25, 2019, the CFTC approved LedgerX as a contract market, allowing it to offer physically-settled Bitcoin futures. It would become the second company to be approved for such a financial instrument.
With the CFTC’s approval as a DCO, and as a designated contract market (DCM), it potentially allows for both retail investors and institutional investors to participate in the markets.
They cater to two different customers:
Retail investors
Institutions or individuals with large amounts of capital/assets.

Products

The Bitcoin Mini Option (Puts & Calls) are European-style physically-settled options on Bitcoin representing 0.01 Bitcoins. They are listed weekly, monthly, and quarterly every Friday at 5 PM E.T. [5]
The Next-Day Bitcoin Mini are contracts that can be used to sell Bitcoins and receive USD immediately or buy Bitcoin and receive it at 4 PM E.T.

14. United States Department of the Treasury

The U.S. Treasury, created in 1789, is the government department responsible for issuing all Treasury bonds, notes and bills. Among the government departments operating under the U.S. Treasury umbrella are the Internal Revenue Service (IRS), the U.S. Mint, the Bureau of the Public Debt, and the Alcohol and Tobacco Tax Bureau.

Key functions of the U.S. Treasury include printing bills, postage, and Federal Reserve notes, minting coins, collecting taxes, enforcing tax laws, managing all government accounts and debt issues, and overseeing U.S. banks in cooperation with the Federal Reserve. The secretary of the Treasury is responsible for international monetary and financial policy, including foreign exchange intervention.

15. The DAO

The DAO, a decentralized autonomous organization (DAO), works as a decentralized fund management investing in blockchain projects. At first, The DAO will focus on projects related to the sharing economy and Internet-of-Things (IoT) applications of the blockchain – though the organization said it is interested in exploring other “new markets unlocked by blockchain technology.”

The DAO is a Decentralized Autonomous Organization (“DAO”) – more specifically, it is a new breed of human organization never before attempted. The DAO is borne from immutable, unstoppable, and irrefutable computer code, operated entirely by its members, and fueled using ETH which Creates DAO tokens. Several aspects of this structure make it revolutionary:

The DAO leverages smart contracts on the Ethereum blockchain so that anyone, anywhere in the world can be empowered to participate. In exchange for their early help, participants receive DAO tokens which hold many benefits.

The DAO backs Proposals which it selects for their innovative nature, to be delivered by Contractors. Some of these Proposals could hold no promise of return whatsoever (in the case of a charity for example), others could involve the building of products or services which The DAO could then use for its own purposes.

The DAO charges for the use of its products or services. This revenue is then sent directly to The DAO in the form of ETH. The DAO then has the option to accumulate this ETH to support its growth, or redistribute it to the DAO Token Holders as a reward.

The ETH held by The DAO will never be centrally managed. DAO Token Holders are able to vote on important decisions relating to the management of The DAO, including the power to redistribute its ETH amongst themselves.

In June 2016, users exploited a vulnerability in the DAO code to enable them to siphon off one-third of The DAO’s funds to a subsidiary account. On 20 July 2016, the Ethereum community decided to hard-fork the Ethereum blockchain to restore virtually all funds to the original contract.

This was controversial and led to a fork in Ethereum, where the original unforked blockchain was maintained as Ethereum Classic, thus breaking Ethereum into two separate active blockchains, each with its own cryptocurrency. The DAO was delisted from trading on major exchanges such as Poloniex and Kraken in late 2016.

16. Gemini

Gemini is a private, licensed digital asset exchange that also offers custodian services for digital holdings. It was launched in 2015 in the United States by the Winklevoss twins, Cameron and Tyler, and has now expanded its operations to Europe and Asia.

They already offer Bitcoin and Ether Trading; commencing May 19, 2018, they are set to also offer trading in Zcash. Litecoin and Bitcoin Cash are reportedly also expected to be approved. Zcash is considered a “privacy coin” and touts itself as “the first open, permissionless cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography.”

Competing directly against other leading cryptocurrency exchanges like Kraken and Coinbase, Gemini allows its users to buy, sell, and store primary cryptocurrencies, like bitcoin and ether, and exchange them against one another and for fiat currencies.

The Latin word “Gemini” stands for twins, and indicates duality. The Gemini platform is conceptualized to marry both forms of money – new-age cryptocurrencies and the old, existing fiat currencies – which are expected to be used interchangeably in the future with the growing adoption of virtual currencies.

17. BitGo

BitGo is the world’s largest processor of on-chain Bitcoin transactions, processing 15% of all global Bitcoin transactions, and $15 billion per month across all cryptocurrencies. BitGo supports over 200 coins and tokens, and has over $2 billion in assets in wallet.

Our customer base includes the world’s largest cryptocurrency exchanges and spans more than 50 countries. In 2018, we introduced BitGo Custody and launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. In 2019, we began providing clearing and settlement.

Ben Davenport, Michael Belshe, and Will O’Brien founded BitGo in 2013. It has its headquarters in Palo Alto in California.

18. YCombinator

Y Combinator is a startup accelerator that invests in a large number of startups twice a year. It created a new model for funding early-stage startups. Twice a year, the company invests a small amount of money ($150k) in a large number of startups.

The startup accelerator works intensively with the companies for three months, to get them into the best possible shape and refine their pitch to investors. Each cycle culminates in Demo Day when the startups present their companies to a carefully selected, invite-only audience.

19. Bitcoin.com

Bitcoin is a form of digital currency, created and held electronically. However, it is a currency not controlled by a central source. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems. It is the first example of a growing category of money known as cryptocurrency.

Bitcoin sells purchase through wallet systems like coinbase wallet, blockchain wallet and many more. it provide full security to secure the bitcoin in wallet by providing customer service phone number. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the blockchain network.

Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

20. ConsenSys

ConsenSys is a market leading blockchain technology company.

Their vision is that blockchain technology allows us to progress to the next generation of the Web that they call the “Web 3.0”. They believe the Web 3.0 will serve as the foundation for new economic systems that are more open, efficient, and accessible.

Their mission is to enable that progress by building platforms, applications, and tools for Web 3.0, while offering services to ensure they are useful to their customers. And as home to many of the world’s leading blockchain experts, they are proud to collaborate with others in the space on open, shared infrastructure.

They are in the early phases of adoption of an entirely new wave of technology that will fundamentally disrupt every industry. They are at the forefront of a revolution.

21. ShapeShift

ShapeShift is a web and API platform formed in July of 2014 to provide instant Bitcoin and altcoin conversion with the maximum level of consumer protection and efficiency. In summer of 2019, the new ShapeShift platform launched to enable B2C users to self-custody their crypto assets, and buy, sell, trade, track, send, and receive all without trusting a 3rd party.

ShapeShift also built and operates the real-time crypto market data service CoinCap.io, and acquired hardware wallet company KeepKey in mid-2017. The company is run by industry veteran Erik Voorhees.

22. Celsius Network

Celsius addresses the financial needs of today’s consumers worldwide through a democratized interest income and lending platform accessible via a mobile app.

Built on the belief that financial services should only do what is in the best interests of the community, Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions.

Crypto holders can earn interest by transferring their coins to their Celsius Wallet and borrow USD against their crypto collateral at interest rates as low as 5% APR.

23. Commodity Futures Trading Commission

The Commodity Futures Trading Commission (CFTC) is an independent U.S. federal agency established by the Commodity Futures Trading Commission Act of 1974. The Commodity Futures Trading Commission regulates the commodity futures and options markets. Its goals include the promotion of competitive and efficient futures markets and the protection of investors against manipulation, abusive trade practices, and fraud.

The CFTC has five committees, each headed by a commissioner who is appointed by the president and approved by the Senate. These five committees focus on agriculture, global markets, energy and environmental markets, technology, and cooperation between the CFTC and SEC.

The committees are populated by individuals who represent the interests of specific industries, traders, futures exchanges, commodities exchanges, consumers and the environment.

The Commodity Exchange Act (CEA) regulates the trading of commodity futures in the United States. Passed in 1936 and amended several times since, the CEA establishes the statutory framework under which the CFTC operates. Under this Act, the CFTC has authority to establish regulations that are published in Title 17, Chapter I, of the Code of Federal Regulations (CFR).

24. Bakkt

Bakkt is a financial services company that focuses on digital currency that specializes in concurrency, rewards, and loyalty points. It features a software application platform designed for digital asset management that helps institutional clients in an end-to-end regulated market.

The company was founded in 2018 and headquartered in Atlanta, Georgia.

25. Wilshire Phoenix

Wilshire Phoenix was established in 2018 and is proud to be at the forefront of financial innovation and market developments.

By thoroughly tracking and analyzing developments in today’s increasingly complex global markets we are able to develop financial products that seek to respond to the various challenges that investors face. They monitor for, and adapt to, shifting financial landscapes, the growth of industries, and the emergence of new asset classes.

They place a strong emphasis on simplicity and elegance over complexity and structure our products in a manner that is consistent with investor protection. Our products, including those that are currently being created, offer exposure across multiple asset classes, such as stocks, bonds, commodities, and alternative assets.

Wilshire’s leadership team has nearly a century of aggregate experience in institutional finance across trading, deal structuring, transaction management, regulatory compliance, marketing, and sales. Our combined backgrounds add unique perspectives when identifying appropriate opportunities for our clients and investors.

26. Financial Action Task Force

The Financial Action Task Force (FATF) is an intergovernmental organization that designs and promotes policies and standards to combat financial crime. Recommendations created by the Financial Action Task Force (FATF) target money laundering, terrorist financing, and other threats to the global financial system. The FATF was created in 1989 at the behest of the G7 and is headquartered in Paris.

The rise of the global economy and international trade has given rise to financial crimes such as money laundering. The Financial Action Task Force (FATF) makes recommendations for combating financial crime, reviews members’ policies and procedures, and seeks to increase acceptance of anti-money laundering regulations across the globe.

Because money launderers and others alter their techniques to avoid apprehension, the FATF must update its recommendations every few years.

A list of recommendations to combat terrorist financing was added in 2001, and in the latest update, published in 2012, the recommendations were expanded to target new threats, including financing the spread of weapons of mass destruction. Recommendations were also added to be clearer on transparency and corruption.

27. BTC-e

BTC-e.com serves as a platform for individuals interested in trading between bitcoins and other currencies, including the U.S. dollar, Russian ruble and other cryptocurrencies Litecoin and Namecoin. The site has Russian and English user interface translations.

28. Mt. Gox

Mt. Gox was a Tokyo-based cryptocurrency exchange that operated between 2010 and 2014. It was responsible for more than 70% of bitcoin transactions at its peak. Although it is most commonly known as Mt. Gox, the exchange is sometimes referred to as MtGox or Mt Gox. The exchange declared bankruptcy in 2014, but it continued to be the subject of lawsuits and speculation.

The name Mt. Gox was created as an acronym for “Magic: The Gathering Online Exchange.” The site was transferred to Mark Karpeles in 2011 in exchange for six months worth of revenue. Karpeles became the largest shareholder and CEO.

At its peak, Mt. Gox was considered the world’s largest bitcoin exchange. It handled 70% to 80% of trading volume. Handling so many transactions gave Mt. Gox an outsized role in determining the fate of bitcoin. In 2013, for example, it suspended trading for several days to cool down the market.

29. Federal Reserve System

The Federal Reserve System (FRS) is the central bank of the United States and arguably the most powerful financial institution in the world. It was founded to provide the country with a safe, flexible, and stable monetary and financial system.

The FRS is comprised of 12 regional Federal Reserve Banks that are each responsible for a specific geographic area of the U.S. The system is often known simply as “the Fed.”

Read Also: Essential Guide on Blockchain and Cryptocurrencies

The Fed is considered to be independent because its decisions do not have to be ratified by the president or any other government official. However, it is still subject to Congressional oversight and must work within the framework of the government’s economic and fiscal policy objectives. Its duties can be categorized into four general areas:

• Conducting national monetary policy by influencing monetary and credit conditions in the U.S. economy to ensure maximum employment, stable prices, and moderate long-term interest rates.
• Supervising and regulating banking institutions to ensure the safety of the U.S. banking and financial system and to protect consumers’ credit rights.
• Maintaining financial system stability and containing systemic risk.
• Providing financial services, including a pivotal role in operating the national payments system, to depository institutions, the U.S. government, and foreign official institutions.

30. Ava Labs

AVA Labs makes it simple to launch finance applications using blockchain technology–with highly scalable and efficient networks, customizable public and private blockchains, the capability to create any digital asset, and more. We are empowering people to build an open, simple, and democratic internet of finance.

AVA Labs was founded by Cornell computer scientists who brought on talent from Wall Street to execute their vision. The company has received funding from Andreessen Horowitz, Initialized Capital, and Polychain Capital, with angel investments from Balaji Srinivasan and Naval Ravikant.