Bitcoin (BTC) Hash Rate Sets Fresh High After Price Crash to $8,000 13
Booming Mining Ecosystem When nearly half of Bitcoin’s hash rate — a metric used to describe the level of computational power backing the network and processing BTC transactions — seemingly disappeared overnight earlier this week, investors were quick to express their concerns on online forums. Cornell University professor Emin Gün...
Crypto Crisis: PayPal Might Pull Out of Libra After Meeting Debacle 15
Since it was unveiled in June of 2019, the Libra Association has been fielding criticism from the world’s governments and central banks. Key monetary authorities and political pundits from the United States to China have made comments about the Facebook-backed project, often criticizing the risks the stablecoin crypto asset poses...
Apple CEO Not Excited About Crypto, Thinks Money Should Be Governmental 16
Apple Not Going Crypto Since Facebook unveiled Libra in June this year, everyone has wanted to know what Silicon Valley thinks of crypto. On Friday, we got somewhat of an answer, from Apple anyway. In an interview with French publication Les Echos, Apple’s chief executive, Tim Cook, quipped that cryptocurrencies...
Facebook's Crypto Suffers Blow As PayPal Reneges On Libra Association 17
Libra, the cryptocurrency project of Facebook, has just suffered a heavy blow according to a number of sources. Speaking to the Wall Street Journal on Friday afternoon, a spokesperson for the fintech giant, PayPal, said that the company has decided to “forgo further particpiation” in the project. Despite this, they...
Think Libra Will Launch In 2020? There's a Crypto Market For That 18
It isn’t a secret that when Facebook unveiled its crypto project, Libra, in June, a proverbial fire was lit under the rear ends of the world’s central banks, financial institutions, and governments. While expected to be backed 1:1 by the world’s leading fiat currencies, this blockchain network will be an...
Breaking: SEC Halts Telegram Crypto Ambitions, Calls It "Unregistered" 19
Well here’s yet another breaking story. In a U.S. Securities and Exchange Commission (SEC) press release published on Friday afternoon, it was revealed that the agency has “filed an emergency action and obtained temporary restraining order” against two entities behind the Telegram ICO for the Telegram Open Network (TON). The...
G7: While Crypto is Useful, Libra Could Threaten Financial System 20
Libra & Crypto Questioned by G7 Libra’s woes have only continued into the weekend. On Sunday evening, the BBC reported that the crypto project was called out by the Group of Seven (seven of the world’s largest economies with some exceptions). The G7 draft report that the outlet managed to...
Stephen Curry's Fund Won't Invest in "Not Practical Yet" Blockchain 21
Blockchain Not Functional?  While Bitcoin hasn’t been widely adopted, the “technology that backs it”, blockchain, has gained mainstream attention. JP Morgan, Walmart, and IBM are among the corporate giants that have begun to use this technology in their operations, citing its potential to reduce costs, increase information/transaction processing speeds, amongst...
SEC to Access Semi-Bitcoin ETF After Bitwise Disapproval 22
According to a report from CoinDesk, the U.S. Securities and Exchange Commission (SEC) has opened a commenting process on a Bitcoin exchange-traded fund (ETF) proposal filed by Wilshire Phoenix and NYSE Arca, which restarts the SEC’s regulatory clock. It was reported that from the filing’s publication, the SEC has 45...
Banks Excited About Libra, Crypto's Exec Says 23
Libra May Sign on Banks…  On Monday, the Libra Association — the somewhat decentralized body governing the Libra blockchain and crypto asset — finally ratified its charter. In a press release published on Monday night, the Libra Association confirmed the 21 member companies — seven less than the initial 28 mentioned...
Despite Bitcoin Crash, Q3 2019 Was Binance's Second Best Quarter 24
Binance Sees Great Q3 Despite the Bitcoin price’s harrowing third quarter — BTC fell from $14,000 in June to $8,000 by the end of September — cryptocurrency exchange giant Binance’s operations have been chugging along just fine. In fact, the company revealed on Thursday morning that it had burned 2,061,888...
Want to Spend Bitcoin on Amazon? There's An App For That 27
Crypto investors have long been asking when Amazon, the massive American e-commerce giant, will integrate Bitcoin (BTC). These expectations make sense. If the platform accepted Bitcoin payments, users would effectively be able to stake their entire lives on cryptocurrency. So far, Amazon has been mum on the topic. The firm...