By Adrianne Jeffries 7/20/11 12:59pm

New Money

chad pankewiz

New Bitcoin Exchange Targets High Rollers, Claims ‘Wall-Street Level Security’

Ladies and gentleman, we have a third new Bitcoin exchange. “Bitcoin exchanges popping up like daisies!” says the Bitcoin Money blog. About a month after Mt. Gox was hacked and Tradehill.com hit the web, a former Citigroup vice president now based in Canada and China is launching Ruxum Exchange in invite-only beta. The site emphasizes usability and its “Wall Street-level security,” according to TechCrunch, and accepts USD, EUR, GBP and JPY with more currencies to come. The site’s security is rigorously audited by a third party, according to Ruxum, and it has back-up databases in two separate physical locations and has developed procedures to deal with breaches. Otherwise its security measures are pretty standard: encrypted passwords and data connection, requiring strong passwords, and so on. “These are people who don’t fuck around,” observed one Reddit user. Read More

By Nitasha Tiku 1:35pm

Secondary Markets

SecondMarket founder Barry Silbert

Wall Street Investment Firm Sues SecondMarket Over $2.4 Million in Facebook Shares

New York City-based Felix Investments is suing SecondMarket in the New York Supreme Court over a $2,475,000 deal for Facebook shares that never came to fruition. Felix began investing in Facebook back in 2009 through two funds named Facie Libre 1 and Facie Libre II–meaning face book in Latin–and did a brisk business with SecondMarket. Dealbook’s Evelyn Rusli recently described Felix investors as “not part of Silicon Valley’s elite” and “more comfortable navigating the narrow streets of Lower Manhattan than on tree-lined Sand Hill Road in Menlo Park.” The suit is over a deal in January 2010 to buy 75,000 shares from Karl Voskuil, a Facebook software engineer, at $33 per share. Read More

By Ben Popper 5/31/11 11:00am

White Collar Capital

Morgan Stanley Planning to Set its Brokers Loose on Twitter

The way that brokers communicate with the public is closely monitored in an effort to prevent scams, false advertising and misleading advice.

It’s the reason why, even as their customers flocked to services like Twitter and Facebook, the big banks banned their brokers from using these services for work.

But Morgan Stanley, the largest U.S, retail brokerage with 17,800 advisers, now plans to allow its staff limited access to both Twitter and LinkedIn, which just completed a very successful IPO, on which Morgan Stanley was a lead underwriter.  Read More