Bitcoin mining company Riot Blockchain has decided to expand its mining capacity by purchasing 42,000 S19 Antimners from Bitmain, a Hong Kong crypto-mining products manufacturer. The purchase was worth at least $138.5 million and it’s part of the company’s plans to increase its Bitcoin mining hashrate, aiming at 7.7 EH/s by mid-2021 (an increase in...Read More
Shortly after the oldest US-based bank entered the cryptocurrency space, so has done the second-oldest – State Street Corporation. The banking giant with $3 trillion in assets under management will allow the London-based Puremarkets to use its Currenex platform for digital asset trading. Launched by Puremarkets Ltd., Pure Digital is advertised as an “interbank marketplace...Read More
Jason William Siesser, a Missouri man, tried to buy a hazardous chemical weapon on the dark web paying for it with bitcoin. He told the potential seller that he intended to use it soon, thus killing up to 300 people. Another Purchase on the Dark Web via Bitcoin A recent example of using the primary...Read More
Data from on-chain analytics provider Glassnode has reported that Bitcoin’s average hash rate hit a new all-time high this week, crossing a daily average of 178 exahashes per second for the first time in history. Bitinfocharts confirms the record high, reporting current hashrates at 176 EH/s. It topped 150 EH/s twice in February and has...Read More
A week prior to its direct listing on NASDAQ, Coinbase has posted preliminary Q1 data indicating a massive increase in its userbase and revenue. The trading volume has increased by nearly 300%, the revenue is about $1.8 billion, and more than 11% of all crypto assets are stored on the platform. Coinbase’s Record-Breaking Q1 The...Read More
After releasing physically-backed exchange-traded products tracking the performance of Bitcoin (BTC) and Ethereum (ETH) earlier this year, CoinShares has expanded its portfolio with the addition of a Litecoin ETP. Litecoin ETP Arrives from CoinShares According to an announcement from April 6th, CoinShares has released another exchange-traded product tracking the performance of a cryptocurrency asset called...Read More
Bitcoin continues to dig its way into the National Basketball Association (NBA) as the Sacramento Kings have doubled down on their support. The team’s Chairman and CEO, Vivek Ranadivé, informed earlier in a Clubhouse appearance that everyone in the organization could start receiving their salaries in BTC soon. Bitcoin Dribbles into the Kings’ Salaries Based...Read More
Ripple’s CEO Brad Galinghouse has clarified his stance on bitcoin, clarifying that he has not argued for a ban against it. Nevertheless, he outlined that one transaction with BTC requires about 75 gallons of oil and noted that the entire crypto space should aim at turning bitcoin mining into a clean energy business. Garlinghouse on...Read More
Popular business intelligence and software company MicroStrategy has continued to show no signs of slowing down on its bitcoin buying spree, adding more of the asset to its portfolio at every opportunity. The company’s CEO, Michael Saylor, recently took to Twitter to announce MicroStrategy’s latest bitcoin purchase, an addition of 253 BTC, to the company’s...Read More
Bakkt, the Bitcoin futures platform launched and operated by the Intercontinental Exchange (ICE), has released its long-anticipated application. Dubbed Bakkt App, it would enable customers to interact with BTC and other crypto assets directly through the platform. Additionally, the company has partnered with several notable firms, including Best Buy and Starbucks. Bakkt App Arrives Launched...Read More
Large banking organizations and institutional investors could reinvigorate their demand for bitcoin soon, commented researchers from JP Morgan Chase & Co. They reasoned that BTC volatility levels have been decreasing in recent weeks, which could be the primary benefit for institutions. BTC’s Volatility Plays a Role for Institutions Analysts representing the giant US multinational investment...Read More
When it comes down to developing a central bank digital currency (CBDC), perhaps no country is more advanced than China. Upon carrying out several tests in recent months, the People’s Bank of China said that the interest in the innovative initiative is surging, but bitcoin could also have a vital role in that. BTC Behind...Read More
This week was undoubtedly bullish for the entire cryptocurrency market, which came inches away from $2 trillion. This happened as Bitcoin looks to reclaim $60K, Ethereum surged above $2,000, and BNB saw a brand new all-time high. In retrospect, it was up only for the entire market during the last seven days. Bitcoin started trading...Read More
Shark Tank and Dallas Mavericks billionaire co-owner Mark Cuban recently disclosed that a significant portion of his crypto holdings are stashed in bitcoin because he believes the cryptocurrency is a better store of value asset than gold. Speaking in a recent episode of the Delphi Podcast as published on CNBC, Cuban noted that of his...Read More
Shortly after announcing plans to enable its institutional customers access to the first-ever cryptocurrency, Morgan Stanley has doubled down by filing documents with the SEC to allow 12 of its funds to gain BTC exposure through the Grayscale’s Bitcoin Trust or cash-settled futures. CryptoPotato reported back in February that a unit of Morgan Stanley Investment...Read More
A recent filing with the US Securities and Exchange Commission indicated that the world’s largest asset manager has indeed “started to dabble” with the primary cryptocurrency by purchasing a portion of CME’s March 2021 BTC futures that expired on March 26th. The Wall Street behemoth has expressed a pro-cryptocurrency approach for the past several months...Read More
Mary Rich, the investment bank’s incoming global head of digital assets for the private wealth management division, told CNBC in an exclusive interview that they will launch the service in Q2 2021. ″We are working closely with teams across the firm to explore ways to offer thoughtful and appropriate access to the ecosystem for private...Read More
Customers of Chipotle Mexican Grill (or simply Chipotle) will be able to participate in a special promo that can get them a free burrito or up to $25,000 in bitcoin. All they have to do is guess a six-digit code that resembles a lost treasure worth hundreds of millions of dollars in BTC. Bitcoin or...Read More
A global open-source hybrid blockchain protocol, eXchange inFinite (XinFin), has partnered with the enterprise software firm R3. As a result, the latter’s DLT-based platform Corda will use the XDC token as the primary settlement coin. The Bridge Between R3’s Corda and Blockchain Networks In a press release shared with CryptoPotato, both parties announced the collaboration,...Read More
The latest report by on-chain analysis provider Glassnode has unraveled more details on Bitcoin spending habits that could suggest that market sentiment is still bullish. Glassnode observed that held coins are beginning to mature, and continued outflows from exchanges demonstrate accumulation is not slowing down. #Bitcoin held above $50k last week as early signs of...Read More
PayPal will reportedly announce later today that it has started allowing consumers from the US to use cryptocurrency to pay at the millions of merchants that the payment processor supports. PayPal, the world’s leading online payment processor, will announce later today that it has started allowing US customers to use their crypto within its network, Reuters reports....Read More
Latvia’s flag air carrier, airBaltic, has reaffirmed its pro-cryptocurrency approach by enabling customers to make bookings with other digital assets, including Ether (ETH), Dogecoin (DOGE0 and Bitcoin Cash (BCH). Those tokens have joined the list of four USD-pegged stablecoins and the first-ever cryptocurrency – Bitcoin. DOGE and ETH to Be Used for Air Travel AS...Read More
A few months after launching Bitcoin custodial services in the US, the nation’s oldest bank, BNY Mellon, has doubled-down on its interest and involvement with the first-ever cryptocurrency. It has published a report attempting to determine bitcoin’s value by comparing BTC with gold and referring to the popular stock-to-flow model. BNY Mellow Evaluates BTC It...Read More
Visa is to become the first large payments network to use a stablecoin as a settlement currency. By partnering with the popular cryptocurrency exchange Crypto.com, the San Francisco-headquartered giant will offer a crypto settlement system for fiat transactions based on the Ethereum blockchain. According to the announcement from earlier today, Visa has joined forces with...Read More
Two suspects have been accused of stealing almost $500,000 from unsuspecting victims in fraudulent bitcoin transactions in Hong Kong. Fake It Till You Steal It According to a report by the South China Morning Post on Tuesday (Mar. 23, 2021), the victims, aged 33 and 31, were deceived by two con artists in a fake...Read More
KiwiSaver Growth Strategy recently invested 5% of its money into Bitcoin, according to his Chief Investment Officer, James Grigor. While several investors from KiwiSaver were not happy with the decision, Grigor believes Bitcoin has become a commodity, similar to gold, and has many features similar to it such as working as a store of value...Read More
Leading crypto fintech startup Circle Internet Financial has announced the launch of a payment solution for the non-fungible tokens (NFTs) market. It will enable investors and content creators to make payments using credit cards and cryptocurrencies. Promoting NFT Adoption The company stated in an announcement today that it hopes the initiative would get more investors...Read More
This week was tough across the board as both cryptocurrencies and legacy markets took a beating. Bitcoin was rejected at $60K and dropped all the way down to $50K, but, fortunately, it found support and is now attempting a recovery. The cryptocurrency started the week trading at around $59K and took a shot at the...Read More
Institutions taking profits and rising interest rates have pushed bitcoin down in the past week, said the Director of Research at Forbes Crypto – Steven Ehrlich. Simultaneously, he outlined Ethereum’s growing adoption among institutions and the role it plays behind DeFi and NFT as the main reasons why ETH has outperformed BTC last year and...Read More
Over 80% of participants in a recent poll answered that they believe bitcoin will be within a six-digit price territory by the end of the year. While only 16% said that BTC would be beneath $100,000, this only attests to the difference several months can make on the general sentiment in the crypto community. Bitcoin...Read More
