Menu IconA vertical stack of three evenly spaced horizontal lines. 5 million toward Uphold, a add money to bitcoin exchange that also trades in cryptocurrencies.
Uphold will use part of the money as insurance for its users to guarantee that their deposits to the exchange are protected in the event of a hacking incident. Before that, he was an early investor in Twitter and Square, before their respective IPOs. 5 million into Uphold, a four-year-old currency exchange where traders can convert USD into traditional currency like euros as easily as they can cryptocurrencies like the red-hot bitcoin. The investment was made through his firm, Hard Yaka. 6 billion leader of the pack Coinbase, which has been cautious about adding new cryptocurrencies to its exchange. The biggest part of Kidd’s investment is an insurance fund for Uphold’s users, which will be used to compensate users in the event of a successful cyberattack on the company.