Former CFPB Official Joins Board of Bitcoin Startup (Nov. 14, 2013)
Bitcoin grabbed headlines again this week—following a flurry of other recent developments—with the news that Raj Date, former deputy director of the Consumer Financial Protection Bureau, joined the board of a company devoted to helping the virtual currency go mainstream. Date is putting his weight behind Circle Internet Financial Inc., a Boston-based startup that last month received $9 million in venture capital funds, as it seeks to develop ways for merchants and consumers to adopt bitcoins for routine commerce. Date is a founder and managing partner of Fenway Summer LLC, a Washington, D.C.-based advisory and venture capital firm.
Date’s latest move, plus a host of recent developments suggesting growing interest in Bitcoin, helped drive the price of a bitcoin to a new record on Wednesday, reaching $441 on the Tokyo-based Mt. Gox exchange.
The U.S. Senate’s Committee on Homeland Security & Government Affairs on Monday plans to meet to consider how Bitcoin and other virtual currencies are affecting law enforcement and banking.