itBit Launches Bitcoin Exchange with $5.5M in Funding

Today itBit, a global bitcoin exchange, announced their official launch as well as the completion of their second round of funding. The company raised a total of $5.5M, with the most recent round closed over the last month for $3.25M. itBit is opening trading today for non-US institutional and retail traders, as well as some US institutional traders. The exchange is headed by Rich Teo, who previously worked as a Senior Analyst at Cedar Hill Capital Partners and Citigroup as an M&A analyst before that. itBit has offices in Singapore, Shanghai and New York, and is looking to serve the …