Category: Crypto

Canaan Narrows Q1 Loss to $5.6 Million Amid Weakening Demand for Mining Hardware

Bitcoin mining rig manufacturer Canaan Creative reported a net loss of $5.6 million for the first quarter of 2020, down from $9.5 million a year earlier. The Chinese company cut prices of its ASIC-based machines by over 50% in an...

/ May 23, 2020

Bitcoin Use on Darknet Markets Jumps 65% in First Quarter

Bitcoin transactions on darknet markets jumped 65% in value during the first quarter, according to research by a blockchain analytics firm. The amount of bitcoin sent from darknet entities to mixers also grew rapidly as exchanges with verification requirements became...

/ May 21, 2020

Grayscale Buys 33% of All Bitcoin Mined in Last Three Months

Grayscale Investments bought up to 33% of all newly minted bitcoin over the last three months, as the asset manager continues to stockpile major cryptocurrencies. The investment fund added 60,762 BTC to its Bitcoin Trust Fund between February 7 and...

/ May 19, 2020

Germany Enters Recession as Over 100 Banks Charge Negative Interest Rates

Germany has plunged into a recession with the worst quarterly contraction since the global financial and economic crisis of 2008, according to official data. Over 100 banks in the country are now charging customers negative interest rates. Germany Enters Recession...

/ May 18, 2020

20 Blockchain Surveillance Firms Monitor Crypto Networks, But Some Apps Show Inaccuracies

During the last few years, blockchain surveillance has increased a great deal and in the early days around 2013-14, there were only a handful of firms. Now there are more than 20 blockchain analysis companies that monitor addresses, transactions, and...

/ May 16, 2020

Digifinex Live AMA Hosts Bitcoin.com Chairman – Roger Ver Talks Stimulus, Useful Cryptocurrencies, Coronavirus

On May 14, Bitcoin.com Executive Chairman Roger Ver sat down with Digifinex cofounder, Kiana Shek, for an ask-me-anything (AMA) session about the cryptocurrency ecosystem. Ver explained what he thinks about the central banks printing unlimited money, the government-induced lockdowns, and...

/ May 14, 2020

Canadian Firm Hut 8 Reports Bitcoin Mined in Q1 Declined 54% Due to Price Volatility

On Monday, Hut 8 Mining reported that first-quarter revenue rose 5% to $9 million from $8.59 million a year ago after the amount of bitcoin (BTC) extracted plunged sharply. Quarter-on-quarter, revenue fell 14%. For the three months to March 31,...

/ May 13, 2020

Bank of England Predicts Worst Economic Crash in 300 Years for UK

The Bank of England has predicted the worst economic crash since the Great Frost of 1709. Economists are less optimistic than the central bank about the rate of recovery for the UK economy. “Current conditions are unprecedented in our lifetime...

/ May 10, 2020

Award-Winning Filmmaker Torsten Hoffmann Launches Bitcoin Documentary Cryptopia

This week filmmaker Torsten Hoffmann launched the cryptocurrency-infused documentary “Cryptopia: Bitcoin, Blockchains and the Future of the Internet.” Cryptopia discusses the powerful economy and flourishing ideas that stemmed from Satoshi’s invention through the eyes of some of the industry’s well...

/ May 9, 2020

Decentralized Finance Startup Focused on Bitcoin Cash Raises $1 Million for Expansion

On May 7, the decentralized finance (defi) startup General Protocols revealed the team has raised over $1 million from investors. The creators of General Protocols have introduced innovative projects on the Bitcoin Cash network such as Anyhedge, and have also...

/ May 7, 2020

Bitcoin ATM Locations Surge to Over 7700 Worldwide Amid Global Crisis

The number of bitcoin ATM locations has been growing rapidly amid nationwide lockdowns and the coronavirus crisis. With hundreds of new machines added each month, there are now more than 7,700 bitcoin ATMs spread all over the world. A new...

/ May 6, 2020

90 Million More People Can Now Spend Crypto With TenX

TenX’s popular Visa debit card—which lets you spend cryptocurrency without having to manually top up—has launched in Germany and Austria. It supports Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), all of which can be spent anywhere that accepts Visa thanks...

/ May 4, 2020

ECB in Full-On Emergency Mode as ‘Unprecedented Decline’ Hits Eurozone

The euro area is facing an “unprecedented” economic decline, the worst since records began. European Central Bank (ECB) President Christine Lagarde paints a picture of a central bank in full-on emergency mode after the bank kept its interest rates unchanged....

/ May 2, 2020

Justin Amash Reveals Third-Party Presidential Bid: Pro-Bitcoin Libertarian Candidate Targets Trump’s Seat

U.S. President Donald Trump now has an unexpected challenger as the independent congressman from Michigan, Justin Amash, says he plans to run as a Libertarian candidate in the 2020 election. Besides John McAfee and Adam Kokesh, Amash is also a...

/ April 30, 2020

1 Cent per Kilowatt-Hour: China’s Sichuan Province Encourages Hydro-Powered Bitcoin Mining

The local government of Ya’an city, in China’s Sichuan province, has announced the region is encouraging bitcoin mining in Sichuan if operations leverage the local hydropower plants. The document released by Ya’an city officials is in stark contrast to how...

/ April 28, 2020

The Greatest Wealth Transfer: Economists Predict the Emergence of New Bitcoin Millionaires, BTC Capturing 3% of Gold Market

The global economy has been feeling the hardships from the mandated lockdowns various nation states have implemented during the last month and a half. Oil prices have dropped below zero for the first time in history, and economic powerhouses like...

/ April 27, 2020

Bitcoin Mining Equipment Maker Ebang Files $100 Million IPO for US Stock Market Listing

Bitcoin mining chip maker Ebang International Holdings Inc. is seeking to raise up to $100 million through an initial public offering (IPO) in the U.S. The Chinese company will sell Class A ordinary shares of nominal value HK$0.001 (US$0.00013) per...

/ April 25, 2020

Digital Yuan to Fuel China’s Economic Reign – McDonald’s, Starbucks, Subway Test PBoC’s Cryptocurrency

China’s economy is the second-largest in the world and economists believe the country may someday bring a new global order and end the Western hemisphere’s financial rule. In 2020, various reports show that China’s central bank will soon release a...

/ April 24, 2020

Dydx Processed $1.1 Billion Cryptocurrency Loans in 12 Months — 70% in Just 60 Days

Cryptocurrency lender Dydx advanced a total of $1.14 billion in digital asset loans over the past 12 months. But about 70% of the money was borrowed in just two months, February and March, as coronavirus-linked volatility triggered a frenzy of...

/ April 23, 2020

Anyone Can Host a Crypto Exchange – Tim Draper Backed Startup Launches New WordPress Plugin

There’s a new plugin available that gives people the ability to launch a cryptocurrency exchange on any WordPress-based website. The project called Wpcryptoexchange is a product created by the Tim Draper-backed startup Draper Goren Holm. With the plugin, anyone can...

/ April 22, 2020