Mining Giant Bitmain Acquires Bitcoin Cash Wallet Startup

Crypto mining behemoth Bitmain announced Monday it has acquired the startup behind an open-source bitcoin cash wallet called Telescope.

Crypto mining behemoth Bitmain announced Monday it has acquired the startup behind an open-source bitcoin cash wallet called Telescope.

The browser-based wallet was launched earlier this year in an effort to enable instant bitcoin cash transactions. At present, Telescope can operate on Google Chrome or Mozilla Firefox, according to a press release, though the team it plans to expand to other platforms following the acquisition.

Supported by BitPay and moneybutton.com, the wallet stores cryptographic keys within a browser extension, meaning transactions are signed by the user’s browser directly. The project says that storing funds in this way offers users similar security to standalone wallets.

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