Young Co-Founder of Brazilian Crypto Exchange Foxbit Passes Away

One of the famous co-founder of general Brazilian cryptocurrency exchange Foxbit Luís Schiavon, has passed away on December 25 in a car accident in Brazil. According to local news outlet G1, the accident involved three vehicles and occurred due to poor weather conditions.

Guto ended up passing away. The cryptocurrency exchange he helped found, Foxbit, has since issued a death note in which it claims the Bachelor in Information Systems helped it grow to have over 400,000 users and to transact over 5 billion Brazilian reais ($1.2 billion) since 2014. As sttaed in the companies website, the note reads as:

We communicate with deep regret the death of the founder and director of Foxbit Operations, Luís Augusto Schiavon Ramos, Guto, at the age of 24, on the afternoon of this Tuesday, December 25th, a victim of an automobile accident on the João Ribeiro de Barros -294), in Marília (SP)…. Foxbit is giving all solidarity and support to Guto’s family.

ZEC is known as Zcash. It jumps to the 19th position in crypto currency exchange rating. Now, it became the largest coin in the crypto world. It costs 470 million dollars in market value. Coinbase, the US based crypto exchange added Zcash to the list of tradable instruments in the market. So, the Coinbase exchange started utilizing the support of the Zcash. At once, it is trading at 88.04 dollars, at 10 percent higher from the time on Thursday.

Zoinbase announced to the joy of all the supporters of Zcash that, ZEC is going to introduce Coinbase Pro. So the users can transfer ZEC into their Coinbase Pro account starting at PT timing 10 AM. Buyers and investors can deposit cryptos in ZEC but the thing is they can’t fill the orders nor they can place the orders. Order bookings will be in a transfer mode for half a day that is 12 hours at least.

Coinbase Pro users can deposit their cash on their Zcash accounts. The USDC trading performs will be opened once when the crypto currency gets the enough liquidity. The process of getting new coin listing have four phases, like initially, users need to deposit their coins then the crypto exchange start in accepting the orders in limit, matching the orders and finally, it is going to open the full functionality.

Before going to the next phase of listing the deposits, the exchange is going to accept the deposits for only 12 hours. Coinbase Pro users only get the trading option of Zcash in the countries of Canada, Australia, Singapore, USA and EU. The other countries will be added at later phases.

The best thing of Zcash is that the users can go for choosing to hide their real addresses and can trade funds anonymously. So, it is a privacy coin. Coinbase will allow deposits from private and also open addresses. But to the open addresses, they can with draw the funds. Remembering the first few days, he noted that it “didn’t matter if it was Christmas, New Year’s, or Easter” as they were always working to try and fix users’ problems.