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Square’s Cash App Bitcoin Revenue Surges 600% to $875 Million in Q2, Profit Up 711%
6.8.2020
Square Inc. has reported a significant bitcoin revenue increase in the second quarter. Its Cash App generated $875 million in revenue, a 600% increase from the previous year. In addition, Square’s bitcoin gross profit jumped 711%. Square Cash App’s Bitcoin Revenue Square released...
Bitcoin P2P Trading Soars in India as New Exchange Launches
6.8.2020
Bitcoin P2P trading volume in India has been growing rapidly, hitting record highs over the past weeks. Meanwhile, a new P2P trading platform has launched in India as the crypto industry awaits the government’s decision on a cryptocurrency law. P2P Trading Volume Soars in India Peer-to-peer...
SEC Looking to Buy a Blockchain Forensics Tool That Analyzes Smart Contracts
6.8.2020
The U.S. Securities and Exchange Commission (SEC) is looking for a blockchain forensics tool to help it analyze smart contracts. In a call for bids to software companies on July 30, the regulator said that the tool must be able to “analyze and detail code within blockchains and other...
US Congressmen Want IRS to Balance Taxation and Innovation in the Cryptocurrency Space
6.8.2020
A bipartisan quartet of US congressmen wants the IRS taxation policy not to dissuade taxpayers from participating in blockchain token staking. These politicians believe America’s ingenuity can help drive this promising staking technology. The four congressmen are Bill Foster (D) of Illinois...
S2F Price Model Suggests Bitcoin Price Hits $100K – Author Claims Model Is Perfectly on Track
6.8.2020
The author of the controversial bitcoin stock-to-flow (S2F) price model said that at current prices the S2F model is “perfectly on track.” S2F shows the price could hit around $30,000 by the year’s end and by August 2021 prices could be $100,000 per bitcoin. The crypto asset...
Bitfinex Offers $400 Million in Rewards to Get Back 120,000 Stolen Bitcoins
5.8.2020
Cryptocurrency exchange Bitfinex is offering rewards of up to $400 million to the hackers who stole almost 120,000 bitcoins from its platform in 2016 as well as anyone putting it in touch with the hackers. Up to $400 Million Reward for the Recovery of Stolen Bitcoins Bitfinex announced on Tuesday...
Bitcoin Cash Difficulty Algorithm Debate Heats Up With Fears of Another Chain Split
5.8.2020
With a touch more than three months left until the next Bitcoin Cash upgrade, crypto proponents have been witnessing a new quarrel rise after last year’s contentious Infrastructure Funding Proposal (IFP). This time around, the tensions derive from the Difficulty Algorithm Adjustment (DAA)...
Ripple Says Over-The-Counter XRP Sales Soared 1,700% to $33 Million in Q2
5.8.2020
Ripple has reported that over-the-counter sales of its XRP digital currency soared 1,760% to $32.55 million during the second quarter of this year. That figure compares with sales of $1.75 million posted the previous quarter, according to an earnings release published August 3. Ripple said...
Crypto Derivatives Set New Records, ETH Futures Set All-Time Highs, CME Open Interest Spikes
5.8.2020
Digital currency derivatives have been on fire during the last two weeks as ethereum futures volumes touched an all-time high on Sunday. The popular derivatives trading platform Deribit saw 1.9 million ETH contracts traded and CME Group is now the third-largest exchange in terms of bitcoin futures...
Flooding Threatens China’s Bitcoin Miners, Chinese Billionaire Says ‘Three Gorges Dam Collapse Imminent’
5.8.2020
This week cryptocurrency enthusiasts are still focused on the severe flooding in China during the 2020 monsoon season. The flooding has already displaced millions of Chinese citizens and skeptics are concerned about the vast number of bitcoin miners located in the Sichuan province. The landlocked...
South African Bitcoin Investment Company Faces Fresh Scam Allegations
4.8.2020
FX Choice, a forex and crypto trading company, is making new allegations that South African bitcoin investment company, Mirror Trading International (MTI) is a multi-level marketing scam. The company says it uncovered this after researching into MTI, a firm that claims to have “118,027...
Bitcoin ATM Locations Reaching 9,000 Worldwide
4.8.2020
The number of bitcoin ATM locations has been rising steadily. Almost 9,000 bitcoin ATMs have been installed worldwide. The U.S. leads as the country with the largest number of bitcoin ATMs, followed by Canada and the United Kingdom. Nearly 9,000 Bitcoin ATMs There are currently 8,947 cryptocurrency...
Government Official Updates Progress of India’s Cryptocurrency Law
4.8.2020
A government official has reportedly confirmed that a “note” regarding the legal framework for cryptocurrency in India has been forwarded to related ministries for inter-ministerial discussions. It would then be presented to the cabinet for approval. Status of Indian Crypto Bill...
Over 90% of ETH’s Supply Now in Profit
4.8.2020
More than 90% of ETH’s circulating supply is now in profit. The last time this level was observed was in early 2018 when the price of the cryptocurrency was $925. Research and analytics firm Glassnode reported Monday that the percentage of ETH’s supply in profit has reached a level...
Government-Owned Swiss Bank Launching Crypto Trading and Custody Services
4.8.2020
Basler Kantonalbank (BKB), Switzerland’s eighth-largest bank, is getting into crypto through its subsidiary, Bank Cler. Owned by the Swiss Canton of Basel-City, BKB has total assets of approximately $49 billion. Swiss Canton Bank Launching Crypto Services Local Swiss government-owned...
European Bitcoin Exchange Hacked for $1.4 Million, Claims It Cannot Afford to Repay Users
4.8.2020
2gether, a Spanish cryptocurrency trading platform, has been hacked for about $1.4 million and company executives claim that they do not have the money to repay customers. Chief executive officer Ramon Ferraz Estrada said over the course of several tweets on Monday that the breach of July...
Bitcoin’s 10% Drop Shrugged Off – Traders Expect More Big Dips On the Way Up
4.8.2020
Bitcoin investors are shrugging off the recent drop in value that saw a loss of over 10.9% on Sunday. A number of speculators believe the price is still very bullish but expect some more big dips along the way. Meanwhile, optimism has been cushioned as onchain statistics show that exchange...
Total Value Locked in Defi Surpasses $4 Billion, ETH Up Over 70% Last 30-Days
3.8.2020
Statistics show that the decentralized finance (defi) economy has grown massively this year as the total value locked (TVL) in defi recently surpassed $4 billion. Between dex platforms, derivatives, stablecoins, lending, and non-fungible asset creation the second quarter of 2020 has propelled...
Indians Five Times More Likely to Suffer Crypto-Related Hacks: Report
3.8.2020
People in India are five times more likely to suffer a cryptocurrency mining hack because of poor consumer awareness, according to a new security report by Microsoft. In its findings published July 29, Microsoft notes that although the number of similar attacks declined by 35% in 2019 from a year...
Bitpatt.com, a Safe, Fast and Reliable P2P Crypto Exchange, Launches Operations
3.8.2020
While there are many crypto exchanges, fear of hacking and theft has slowly crept into crypto traders due to many such past incidents. It makes sense to always be in control of one’s fund and cryptocurrencies, and that’s why P2P or peer to peer services like Bitpatt are trusted by both...