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Square, a payment processing company owned by Twitter CEO Jack Dorsey, has obtained a New York BitLicense. The firm announced the news on Twitter on June 18, 2018. The license grants approval for the company to offer Bitcoin trading services in New York via its Cash app. ‘The Missing Piece of the Puzzle’ BitLicense is the colloquial term given to the business license issued by the New York State Department of Financial Services (NYDFS) to
Jonathan Johnson, ex-chairman of Overstock’s board of directors, touched on the benefits of cryptocurrencies and noted the tremendous potential of blockchain-based technology. Despite the currently hemorrhaging market, he still sees a lot of advantages in utilizing cryptocurrencies over traditional credit card payments. Better Than Credit Cards Currently sitting on the Board of Directors of Overstock.com – a major online retailer accepting cryptocurrencies as a payment method — Jonathan Johnson shared his overtly positive sentiment
Star Trek stalwart William Shatner has become the latest celebrity to champion Bitcoin by endorsing a solar-powered mining project in Illinois. ‘You Have To Blank Your Mind’ In an interview with Chicago Tribune on June 13, the 87-year-old veteran actor told of his support as spokesman for Solar Alliance — a Canadian startup planning to conduct Bitcoin mining in an abandoned factory using solar energy. Shatner excitedly told the daily newspaper: The concept is so, I
The price of Bitcoin may be heading down to $3200, new research has warned — as the first and foremost cryptocurrency fails to find support at its April lows of $6450. The Bigger Picture In a detailed transaction analysis released June 13, Fundstrat Global Advisors concluded that — due to the lack of support — BTC/USD could hit February’s $6900 low before rebounding and subsequently falling further to somewhere between $5000 and $5500. The findings
Days after Tether (USDT) gained a higher market cap than Monero and Dash, new research has reignited suspicions that the altcoin “manipulated” Bitcoin prices. Cryptocurrency Highs Fuelled By Tether The product of two researchers at the University of Texas, the paper — titled Is Bitcoin Really Un-Tethered? — claims to have identified potential evidence of direct price manipulation since November 2017. Bitcoin’s all-time highs around $20,000 one month later — and those of major altcoins — were
P2P content sharing giant BitTorrent has a new owner — TRON platform founder Justin Sun — multiple reports began claiming on June 11. A Merger Of Two Rainberries Following original rumors late last month, it now appears Sun has completed an acquisition of BitTorrent, with staff even receiving official notifications of the takeover, Variety states. Sun had begun negotiating for BitTorrent as early as September last year — with the intent to purchase coming in
90 percent of Bitcoin Cash holdings are held as investments and never change hands, new research from Chainalysis revealed on June 8. ‘Far Fewer Transactional Users Than Bitcoin’ The findings — which the firm released along with wider insights into Bitcoin’s money supply in 2017-18 — contrast sharply with Bitcoin itself, which has a 50/50 split between investments and transactions. “It appears that there are far fewer transactional users of bitcoin cash than in bitcoin,” Chainalysis
South Korea’s National Tax Service (NTS) has requested $30 billion won ($28 million) in taxes from major cryptocurrency exchange Bithumb in a move which has gained positive feedback from the community. Bithumb ‘Will Not Object’ To Tax Bill Local media reported on June 8 that Bithumb, which posted revenues of 427 billion won ($397 million) in 2017, will pay the bill following an audit from South Korea’s Internal Revenue Service (IRS). As a result of the
Many young professionals in Africa are embracing the promise of cryptocurrency via exchanges like Paxful and are extolling the “gospel of Bitcoin” to their peers. The cryptocurrency craze continues to sweep the world. While large corporations and other institutional investors seek to make millions off the buying and selling of virtual currencies, it is the small, individual investor who is seeing their life altered for the better through cryptocurrency. One group that is truly feeling
The economy of Africa has been severely buffeted by many factors over the years. However, P2P finance platforms like Paxful recognize the opportunity cryptocurrency offers Africa. The history of the African continent over the last few centuries hasn’t been exactly ebullient. Colonialism, massive food shortages, the spread of a number of virulent diseases, armed conflict, and unstable economies have all been elements that have shaped the ongoing development of Africa. Yet a new economic and
Former Alcoa aluminum smelting facility has signed a deal with crypto-mining company Coinmint, to install one of the world’s largest cryptocurrency mining centers in Upstate New York. From Melting to Minting A former Upstate New York aluminum smelting facility is getting new and unexpected tenants. Aluminum refining and smelting company Alcoa has signed a 10-year lease, including options to renew, with cryptocurrency mining company Coinmint. It is no secret that Bitcoin prices have been less
Jump Trading, a Chicago-based firm, has developed a digital bitcoin OTC trading platform, which it expects will revolutionize the bitcoin trading arena for institutional investors. Electronic Bitcoin OTC Trading Jump Trading’s new platform is a significant upgrade on the usual OTC bitcoin trading paradigm. Usually, firms conduct such transactions with their counter-parties over the phone or via secure messaging services. This method is an auditing nightmare what with having to scrape telephone and messaging records. The
Huobi Group — whose Huobi cryptocurrency exchange is in the global top three by volume — has announced the launch of the Huobi Chain Project (HCP), along with a $100 million USD funding plan to build a next-generation, autonomous, decentralized exchange platform. Huobi CEO: ‘We Firmly Believe in a Decentralized Future’ Huobi Group announced today the launch of the Huobi Chain Project, along with $100 million USD in funding to build “a next-generation self-regulating and decentralized
US cryptocurrency exchange Bitfinex has recovered after a two-phase outage saw hackers launch a DDoS attack on its website. ‘Back To Normal Operations’ Updates on the exchange’s dedicated incident log confirmed the attack lasted approximately two hours, beginning around 13:00 UTC. In a fresh update, published at 16:40 UTC, officials announced the attack was over and the exchange was “back to normal operations.” Analyzing the events, Bitfinex acknowledged hackers had exploited earlier downtime due to
The first Bitcoin wallet featuring full Lightning Network support went live on Google Play May 31 in a further milestone for the technology. Lightning Payments Meet Android The release, called simply Lightning Wallet, incorporates a fully operational Lightning node, providing for both on-chain Bitcoin and off-chain Lightning Network transactions. Users will be able to take advantage of the increasingly well-populated network, benefits including near-instant sending and receiving of Bitcoin via dedicated channels for fees of
Seattle-based cryptocurrency exchange Bittrex has confirmed that it has reached an agreement allowing customers to buy Bitcoin with US dollars. ‘It’s Been A Long Path’ Earlier today, Bittrex CEO Bill Shihara announced that the exchange had reached an agreement with New York-based Signature Bank, which – along with other financial institutions – will hold customers’ USD funds. Initially available only to corporate clients in Washington, California, New York, and Montana, the first USD trading pairs will
A UK-based company has succeeded in obtaining a registered trademark for the word “Bitcoin” for three different asset classes. The trademark holder has allegedly served an Etsy seller with a cease and desist order for using the BTC logo on his themed T-shirts. Bitcoin™– It’s Official A.B.C. IPHoldings South West, LLC, a UK-based company and subsidiary of Monopolip LTD, has managed to secure a successful trademark registration for the term “Bitcoin” in three different asset
The overall percentage of Bitcoin transactions using Segregated Witness (SegWit) technology has climbed to all-time highs this week, approaching 40%. May Sees SegWit Spike Data from monitoring resource transactionfee.info reproduced on Twitter by investor and entrepreneur Alistair Milne shows steep growth in SegWit’s share beginning earlier in May. The rise was likely fuelled by wallet and cold storage provider Xapo implementing the technology, Milne commented. The company’s president Ted Roger confirmed the implementation separately May
Travel and accommodation website CheapAir.com has appeared to choose self-hosted payment processor BTCPay for its Bitcoin payments, shunning industry stalwart BitPay. CheapAir ‘Doing Testing’ With BTCPay According to comments on social media, BTCPay, which offers open-source merchant software, could officially become the new processor for Cheapair after it dropped Coinbase earlier this month. “We had a nice run with Coinbase but they are sun-setting their merchant platform next week,” the company wrote confirming the planned
Bitcoin might be anathema to the majority of Wall Street banks, however, for small lenders in the U.S., the crypto market is a veritable money maker. Despite the uncertainty and lack of regulation in the industry, Main Street banks are jumping on the Bitcoin bandwagon and raking in huge revenues. Main Street Banks Catching the Bitcoin Bug The big banks on Wall Street have largely shunned the cryptocurrency market with only a few making tentative
The cryptocurrency market is cooling, but institutional investments into the space have been heating up and have generated over a billion dollars worth of funding in under half a year. Market Slowing But Investments Speeding Up? You would think that with the slowdown in the cryptocurrency market would come a correlated slowdown in institutional investments. However, investments in the space from venture capital firms have only gained momentum since last year’s bull run. Cryptocurrencies and
A UK Turkish-owned mosque will become the country’s first to accept cryptocurrency donations during Ramadan, putting it at odds with Ankara on the subject. ‘Uncharted Waters’ Shacklewell Lane Mosque in Hackney, East London, also known as Masjid Ramadan, announced the measures as part of the Islamic traditions of Zakat and Sadaqah – giving to those in need. The only such mosque to formally accept Bitcoin in the country, and one of just several worldwide, Shacklewell
The crypto-community celebrates the 8th anniversary of the first commercial transaction in which Bitcoin was used as a real-world currency to pay for an item. Two Pizzas for 10,000 Bitcoins On 17 May 2010, computer programmer Laszlo Hanyecz posted on the Internet a request to buy a pizza paying with bitcoins. A few days later, Hanyecz was successful. He bought two pizzas for 10,000 bitcoins from Jeremy Sturdivant, whose username was “jercos.” On May 22,
