bitcoin

26

Aug

Asset managers and companies accumulate 1.2M Bitcoin worth $57 billion

While asset managers have accumulated 4% of Bitcoin’s supply, private and public companies have also amassed 1% each. Around 6% of Bitcoin’s circulating supply has been accumulated by asset managers and companies, signaling ever increasing mainstream and institutional adoption of crypto assets. According to Buy Bitcoin Worldwide, 816,379 BTC worth $40.1 billion is currently held by 14[…]

blockchain

25

Aug

Pakistani blockchain marketplace completes record $30M raise

With total funding of $37.8 million to date, Bazaar Technologies is among Pakistan’s most capitalized startups. Pakistani blockchain-powered business-to-business (B2B) marketplace, Bazaar Technologies, has secured $30 million in the country’s largest Series A round to date. Bazaar announced the closure of its latest raise on Aug. 24, revealing that th Silicon Valley-based Defy Partners and Singapore’s Wavemaker Partners had[…]

philippines

25

Aug

Philippine regulator tells Axie Infinity players they must pay tax on income from game

The Philippine government is yet to determine whether Axie’s in-game NFTs should be classified as securities or currency. Amid the enormous success of crypto-powered game Axie Infinity in the Philippines, the local Department of Finance has made clear that it wants a cut of profits generated by playing Axie and other play-to-earn games. An August 23 report from Inquirer cites Philippine[…]

coinbase

25

Aug

Coinbase users angry with customer support after funds disappear from accounts

Coinbase customers are venting again in frustration with the lack of customer support from the $65 billion company. Coinbase is under fire for terrible customer service following reports of users accounts being hacked and drained of funds.  According to an Aug. 24 investigation by CNBC, thousands of customers across the country have lodged complaints against the company. The outlet[…]

BTC Chart

25

Aug

Bitcoin hashrate triples since June 28 in recovery from China syndrome

Bitcoin hashrate has now recovered to early June levels indicating that miners are coming back online after China’s crackdown. The hashrate for the Bitcoin network has made a remarkable recovery since it crashed following China’s crypto mining clampdown earlier this year. The Bitcoin hashrate has now topped 150 Exahashes, or one quintillion hashes, per second according to data from[…]

usd/btc

24

Aug

Publishing platform Substack now accepts Bitcoin payments

Substack has more than 500,000 paid subscribers, but Bitcoin payments will first be available to “a select group of crypto-focused publications.” An integration with payment processor OpenNode will allow content platform Substack to accept Bitcoin (BTC) payments on-chain and use the Lightning Network. In a Monday announcement, OpenNode said it had partnered with Substack “to make it easy for writers[…]

usdc

24

Aug

USDC to consolidate reserves into cash and US treasuries

Coinbase president and COO, Emilie Choi, has announced that the reserves backing the stablecoin USD Coin (USDC) will be consolidated into cash and U.S. government treasuries. An Aug. 22 blog post from CENTRE Consortium, the entity that was collaboratively established by top U.S. crypto exchange Coinbase and blockchain financial services company Circle that issues USDC, stated that USD Coin’s[…]

binance

24

Aug

Binance denies allegations of market manipulation

The exchange hinted of legal action against “FUD-peddlers and individuals with malicious intent” threatening its business interests. Major cryptocurrency exchange Binance is pushing back against allegations of market manipulation and working against the interest of its users. In a Monday Twitter thread, Binance seemingly laid the blame for any claims of manipulating the crypto market on publications spreading fear,[…]

Venezuela

24

Aug

El Salvador president announces infrastructure already being built ahead of country’s Bitcoin adoption

According to Nayib Bukele, there will be 200 ATMs and 50 branches capable of converting Bitcoin into U.S. dollars starting on Sept. 7. Nayib Bukele, the president of El Salvador and the principal figure behind the country’s adoption of Bitcoin (BTC), said residents will have the opportunity to convert their crypto to fiat immediately after Bitcoin is recognized[…]

blockchain

23

Aug

Concerns around data privacy are rising, and blockchain is the solution

A decentralized future, with Web 3.0 and blockchain at its core, will provide the best practices in users’ privacy and data protection. Today’s consumers are willing to trade their data for personalization but have fast-growing concerns about data privacy. In a survey from a digital security and credential issuance company Entrust, only 21% of the respondents trust established global[…]

ukcrypto

23

Aug

PayPal launches crypto services for UK customers

PayPal customers with verified identities will soon have access to crypto trading. However, crypto transactions for PayPal business accounts aren’t yet supported. Beginning this week, residents of the United Kingdom will be able to buy, hold and sell cryptocurrencies through PayPal for the first time — marking a significant milestone for a company that began offering digital[…]

image

22

Aug

Crypto mining needs to be redefined before simply casting it away

To ensure a sustainable future for blockchain and crypto, we need to reimagine the mining process and restructure PoW systems. Blockchain mining networks are often victims of their success. The two contemporary realities that demarcate the mining landscape and cause blockchains to fall short of what they promise are 1) the ongoing technological arms race driven by[…]