NYDIG has acquired Lightning Network payments app Bottlepay to integrate the Bitcoin second-layer to its platform. “We believe that the next chapter of Bitcoin will be about Bitcoin – big B – the network,” NYDIG said. The financial terms of the deal were not disclosed. Bitcoin-focused financial services firm NYDIG announced the acquisition of payments app Bottlepay, which leverages the…
Its been less than six months since China’s May 2021 crackdown on bitcoin mining, resulting in the greatest shakeup in the network’s history. According to Cambridge University’s Center for Alternative Finance (CFAF), since May, the US has pulled into first place for bitcoin mining with 35% of the global hashrate, while China has gone from 45% to zero. Image Source Although Kazakhstan…
The algorithmic stablecoin DAI is now backed by more Ethereum than the centralized stablecoin, USD Coin (USDC). The milestone comes after months during which USDC made up more than 50% of the decentralized cryptocurrencys backing. At press time, the amount of Ethereum backing DAI has risen to 41.4%, and the amount of USDC has fallen to 34.5%, according to data…
In mid-October, Bitcoin.com News reported on how decentralized finance (defi) or algorithmic stablecoins have seen significant demand in 2021. One particular stablecoin called OHM is quite different from the traditional reserve currency defi protocols today, as OHM is a free-floating currency backed only by what’s held in the Olympus DAO treasury. OHM may not be backed by a U.S. dollar…
Major cryptocurrency exchange Binance announced the suspension of all transaction withdrawals on its platform on Monday morning due to a large backlog of data. CEO, Changpeng Zhao, assured all users that funds were safe, before the functionality was restored. The platform shared this announcement on their official Twitter page via a thread, stating: We’re on it. Funds are SAFU. https://t.co/LbJbZsVhl0…
Shiba Inu coin, a dog-themed cryptocurrency, has soared over the past 24 hours. The reasons are myriad, with a recent advertisement in New York City likely contributing. We will reach the moon soon, reads the gigantic digital billboard. Next to the crypto industrys mantra is a cartoon Shiba Inu dog in a dress shirt and tie, mimicking the Wall Streeters…
Bitcoin’s (BTC) biggest investors have been lately upping their reserves in sync with the ongoing price recovery, one Glassnode metric suggests. Dubbed as “Whale Supply Shock,” the on-chain indicator represents the ratio between the amount of Bitcoin held by “whales” and “fishes.” Whales represent addresses that hold between 10,000 BTC and 100,000 BTC, while fishes are those that hold anything…
“What happens if the government makes bitcoin illegal?” is a question you will frequently hear. The underlying assumption — the same one that Prohibitionists made in the early part of the last century — is that usage will decrease, or even stop altogether, if you make something illegal. But this is not necessarily so. On September 24, Chinese regulators issued…
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Digital Currency Group (DCG), one of the largest companies in the cryptocurrency industry, has completed a major secondary investment round led by Japanese financial giant SoftBank. DCG has sold $700 million worth of shares to companies like Googles parent company, Alphabet, to bring its valuation to more than $10 billion, the company officially announced Monday. Proud to welcome SoftBank, CapitalG,…
