Paypal Bought 70% of All Newly Mined Bitcoin Last Month as Demand Rockets
Paypal bought up to 70% of all the newly mined bitcoin since the payments giant started offering cryptocurrency services four weeks ago. Now that's according to estimates by hedge fund manager Pantera Capital, as revealed in its latest monthly blockchain ... read more.
$20 Billion in Crypto Under Custody: Coinbase Sees 'Explosion of Capital' From Institutional Investors
Coinbase has revealed that it has had "an explosion of incoming capital." Its assets under custody currently stand at $20 billion, $14 billion of which were accumulated since April. Coinbase highlights a string of bullish events that have "really unleashed" ... read more.
Poker Site Buys $100 Million of Bitcoin Every Month to Pay Players in BTC
A major online poker website has been buying millions of dollars of bitcoin every day to meet demand from players wanting to cash out in bitcoin. This amounts to $100 million in bitcoin a month as about 95% of players ... read more.
Analysts: Institutional Investor Interest Fueling BTC Rally, Liquidity Crunch Narrative Debunked
Crypto analysts are pushing back against the narrative that the current BTC rally is being fuelled by a liquidity crunch afflicting bitcoin mining pools in China. The liquidity crunch, which is caused by an ongoing regulatory crackdown in that country, ... read more.
Slow and Empty Blocks With a Mysterious Message - ABC's New Chain Off to a Rocky Start
On November 15, 2020, the Bitcoin Cash blockchain experienced a network upgrade and a bifurcation of the chain as well. While the Bitcoin Cash network continued on smoothly, the ABC pro infrastructure funding plan (IFP) side of the chain had ... read more.
Crypto Retirement: US Investment Firm Launches Employer-Sponsored Bitcoin 401(k) Plan
The U.S.-based company Digital Asset Investment Management (Daim) has announced the launch of a company-sponsored 401(k) retirement plan that allocates up to 10% in bitcoin. The plan is an ERISA compliant employer-sponsored 401(k) and assets are held in institutional-grade cold ... read more.
End of Western Union Remittance Service to Cuba a Boon for Crypto
As new U.S. government measures that impose restrictions on remittances to Cuba becomes effective after November 22, Western Union, which has been operating in the island nation since 1999, will close shop. The new rule, which was published on October ... read more.
Previous Bitcoin Bull Run Patterns Suggest Current Run Could See a $160K Top, Possible $25K Bottom
While digital currency markets have increased significantly in value a number of crypto asset proponents are wondering how far the next bull run will take them. For instance, the last three bitcoin bull runs saw different price spikes and significant ... read more.
Christine Lagarde: 'The European Central Bank Cannot Go Bankrupt or Run Out of Money'
In remarks that highlight flaws of the fiat currency system, the European Central Bank (ECB) president, Christine Lagarde, says the institution cannot go bankrupt even if it incurs losses running into trillions. According to Lagarde, normal bankruptcy rules do not ... read more.
Hyperinflation and Rent Controls - 2020's Telltale Signs of Economic Distress Haunts Many Nations
If history serves us well, 2020 is likely a precursor to a long and dreadful economic depression throughout a myriad of countries worldwide. During the last year, economists and analysts have been discussing how specifically the United States economy and ... read more.
XRP Price Climbed 123% in 30 Days, Spark Token Airdrop Pushes Value Higher
During the course of the week digital currency markets have seen colossal gains and one crypto asset, in particular, XRP, has jumped significantly in value over the last seven days. The distributed ledger token XRP climbed 25% upwards on Tuesday ... read more.
Ethereum 2.0 Deposit Threshold Met: Proof-of-Stake 'Beacon' Chain Starts in 7 Days
The Ethereum network’s ETH 2.0 contract has crossed the threshold needed to initiate the upcoming upgrade. Currently, there’s more 694,368 ether worth over $422 million resting in the contract, as developers hope the proof-of-stake launch will begin on December 1. ... read more.
Hackers Paradise: Yet Another Defi Protocol Exploited for Nearly $20 Million in DAI
Decentralized finance (defi) protocol Pickle Finance was hacked for $19.7 million of the stablecoin DAI over the weekend, as the defi industry appears to be turning into a hackers paradise. Pickle's native token (PICKLE) plunged 62% on the news, falling ... read more.
John Lennon's Son Says Bitcoin Empowers People, Gives Him Optimism in Ocean of Destruction
Sean Ono Lennon, the son of the Beatles' John Lennon, says bitcoin gives him optimism amid the "ocean of destruction" this year. He believes that the cryptocurrency empowers individuals the way they have never been empowered before. Bitcoin Gives Sean ... read more.
New Research Suggests Satoshi Nakamoto Lived in London Creating Bitcoin
The hunt for the mysterious Bitcoin inventor, Satoshi Nakamoto continues to this day, as new data-driven research has been recently deployed in order to figure out the creator’s location while he/she or they worked on the network. The researchers analyzed ... read more.
Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin to Circumvent Country’s Overvalued Exchange Rate
A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians expatriates are now using bitcoin to circumvent the country’s overvalued exchange rate when sending remittances. According to Lasebikan, the Central Bank of Nigeria (CBN)’s fixed ... read more.
Asset Manager Vaneck Launches Physically-Backed Bitcoin Exchange-Traded Note
On November 25, the asset manager Vaneck announced the launch of an exchange-traded product (ETP) called the “Vaneck Vector Bitcoin ETN.” The exchange-traded note is physically-backed by bitcoin and listed on the trading exchange Deutsche Böerse Xetra. The newly listed ... read more.
Market Update: Crypto Prices Drop Fast, Bitcoin Loses $2K, Correction Considered Healthy
The price of bitcoin and a great number of digital assets plunged in value during the early morning trading sessions on November 26, 2020. Bitcoin’s price dropped from a high of $19,319 on Wednesday evening only to lose over $2,000 ... read more.