Moolah Acquires MintPal - From The CoinFront

Moolah, the Dogecoin-related company, will be merging with MintPal.

Moolah CEO and founder Alex Green made the announcement yesterday afternoon via their official blog.

In my opinion they were (and still are) one of the better exchanges out there. They have a great UI, a number of diverse markets and a highly active user base. The exchange has a number of great points, and the entire moolah.io team felt as if we could take it to the next level.

 

The Nature Of The Merger

Moolah will be starting with an audit of MintPal to get an idea of what needs to be done, and adding additional security features, since “security is something we are very good at.”

They will also be removing dead coins from the exchange, and will add and remove new coins if they meet their criteria.

Green reports that though his company will be taking over operation of MintPal, they will maintain it as a separate service from Moolah. MintPal’s focus will be on altcoin markets, while Moolah will be geared toward fiat markets.

The full takeover won’t occur until August.

Moolah and MintPal: A Likely Pair?

Both Moolah and MintPal have been centres of controversy lately.

Green was one part of a public confrontation with Dogecoin co-founder Jackson Palmer which resulted in Palmer stepping away from the Dogecoin community altogether. And though the company has promised to develop Dogecoin ATMs, it has repeatedly missed its own self-imposed deadlines.

They have, however, done significant good within the Dogecoin community as well. It was largely Green’s “accidental” donation of 20 million DOGE to the Doge4Nascar campaign that allowed Josh Wise to race the Dogecar at Talladega. They have been involved in some of Dogecoin’s other charitable actions as well.

MintPal, meanwhile, was the victim of a hack in which 30% of the world’s supply of VeriCoin was stolen, leading to VeriCoin hardforking in order to reverse the theft. This controversial move was met by resistance from many members of the community, while others saw it as a necessary evil to save VeriCoin.

Will the two companies together be able to repair the damage done to their reputations?

Will you trust MintPal under new ownership? Do you trust Moolah to take care of MintPal’s security? Let us know in a comment below!

Moolah Acquires MintPal