Jack Dorseys payments company Square Inc. revealed in its Q3 earnings report that mobile payments app Cash App saw a 23% drop in quarterly profits generated by Bitcoin. But Bitcoin profits and revenue are both up year on year. Square attributes the drop off in quarter-on-quarter Bitcoin revenue and gross profit to the relative stability of the price of Bitcoin,…
First off, I recently read Aleksander Svetski’s article “Bitcoiners Are the Remnant, The Masses Don’t Matter.” It hit a chord at my deepest core and what he was elegantly articulating in that piece inspired me to write this. Bitcoiners, here is my ode to all of you: “Bitcoin fixes this!” The phrase has become like a mantra in the Bitcoin…
U.S. Senator Ted Cruz has introduced a resolution that would position Congress to lead in the area of cryptocurrency by having congressional cafeterias, vending machines, and gift shops accept crypto payments. “Congress is typically slow to adopt new technology,” he said. Senator Pushes for Crypto Adoption in Congress U.S. Senator Ted Cruz has introduced a resolution titled “Adopting Cryptocurrency in…
Mythical Games announced the conclusion of a $150 million fundraising round. The company conducted the raise at a $1.25 billion valuation on Thursday, which was led by global venture capital firm Andreessen Horowitz. Mythical said it plans to use this new infusion of capital to help integrate NFTs into games. Andreessen General Partner Arianna Simpson said in a statement: Co-Founders…
Publicly traded cryptocurrency exchange Coinbase has been aggressively listing crypto assets of late. But that has extended beyond little-noticed coins and tokens such as Jasmy Coin and ARPA Chain to a more surprising asset: Crypto.com Coin (CRO). Coinbase announced yesterday that trading of Ethereum-based CRO would begin immediately. The listing has been a boon for CRO, which reached an all-time…
As reported by Reuters Thursday morning, Tierra Viva (“Alive Earth”), a Colombian exporter of long-horned beetles based in Tunja, has been developing its own cryptocurrency to avoid high commission costs on international sales. According to the outlet, the Hercules, Neptunus, and elephant beetle species exported by Tierra Viva have a retail price of $300 a pair in Tokyo. The beetle…
Joseph OConnor, known in some corners of the internet as PlugWalkJoe, was indicted on an array of charges relating to a May 2019 cryptocurrency exchange hack. During the attack, he is alleged to have absconded with digital assets valued at approximately $784,000. In the criminal scheme, authorities believe O’Connor utilized SIM swap attacks (an artifice of fraud where 2FA phone…
High transaction fees have been a persistent thorn in the side of investors and blockchain projects since at least 2014 when Ethereum Network co-creator Vitalik Buterin stated in reference to Bitcoin, The Internet of Money should not cost $0.05 per transaction. It’s kind of absurd. Fast forward to November 2021 and the simple act of approving a token so that…
Payments company Square today announced today in its Q3 earnings statement that its Bitcoin revenue was $1.81 billion, an 11% increase from last year, from trading on its Cash App. The company said that its profits from its Bitcoin investment were therefore $42 millionapproximately 2% of Bitcoin revenue. While $1.81 billion in revenue from Bitcoin trading may seem impressive, it…
Star Financial Bank (Star Bank) says it has become the first bank in the U.S. state of Indiana to offer bitcoin services to customers. The services will be offered through the New York Digital Investment Group and Alkami platform. Customers will have the ability to buy and sell bitcoin via the Star Mobile Banking App. ‘First Bank in the State…
