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Bitcoin Controversy Grows

Bitcoin controversy

Zennon Kapron, the Shanghai-based managing director of Kapronasia, a financial consulting firm which deals with Bitcoin firms, described First Meta as one of the pioneers of virtual currency exchanges."What happened to her is very unfortunate. I had the opportunity to meet her last year. She was somebody always very happy, outgoing, and had a way of bringing people together both within the virtual currency community and outside as well," he told AFP.

Until we know what happened around (Radtke's death), it is wrong to speculate on whether there is a relationship between that and the situation with Bitcoin as a whole."He said Singapore's openness to new payment methods, talent pool as well as its status as a financial hub made it a "natural place for Bitcoin firms to get a start", along with Hong Kong.

According to her profile on business networking site LinkedIn, Radtke began her career in enterprise cloud computing and in 2007 worked with Apple to supply the Aqua Connect server product to major companies.It said she "passed on an opportunity to work at Apple to stay in the fast-paced world of technology start ups".

She moved to Singapore in 2012 to head First Meta, a web-based exchange for users to buy, sell and trade virtual currencies for real money.Sixteen days before her death, Radtke posted on her Facebook page a link to an article in Inc. magazine entitled "The Psychological Price of Entrepreneurship" which talked about the inner struggles experienced by entrepreneurs before they achieve success.

Above it was her comment: "Everything has it's price." Radtke's death comes as controversy surrounding the Bitcoin sector grows. After the MtGox exchange filed for bankruptcy protection last month, Canada-based Flexcoin was also forced to shut down, saying that someone attacked its systems and stole nearly $600,000 worth of Bitcoins.

First Meta last year secured funding of Sg$588,000 ($464,000) from Silicon Valley-based technology firm Plug and Play Tech Center. Singapore is Southeast Asia's main hub for technology startups as well as global computer and software companies and financial institutions.

Its central bank, the Monetary Authority of Singapore (MAS), has cautioned that virtual currencies are not legal tender and those who deal in them should be aware of the risks.

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