Monthly Archives: November 2020

8,000 Bitcoin Scam Victims Get Refunds From US Regulator

The U.S. Federal Trade Commission is refunding about 8,000 victims who lost money from investing in two bitcoin scams. The fraudulent schemes promised that investors could turn their cryptocurrency payments of about $100 into $80,000 in monthly income. Bitcoin Pyramid Schemes’ Victims Get Refunds The Federal Trade Commission (FTC) has started sending refunds to victims of two cryptocurrency investment scams: Bitcoin Funding Team and My7network. According to an announcement by the FTC on Wednesday, the two schemes “falsely promised that participants could earn large amounts of money […]

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Amid election throes, Bitcoin goes: Bad Crypto news of the week

Check out this week’s Bad Crypto podcast It’s been a week. Whether the politics made it good or bad week depends on your view but if you’re holding Bitcoin, it was certainly good. The price is up more than 8.5 percent over the last seven days. It’s now well over $14,000 and has spent 100 days above $10,000. That has some experts predicting a new jump. Others are looking back to 2016 for positive signs. Then too a period of pre-election stability was followed by a rally. […]

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3 ways Bitcoin price and stocks may react to a Biden presidency

Major media outlets have declared Joe Biden the winner of the 2020 election, leading analysts to speculate how a Biden presidency may impact Bitcoin price in 2021. On Nov. 7 several major media outlets announced that after 4 days of rigorous vote-counting in key battleground states Joe Biden had managed to secure enough electoral votes to become the 46th President of the United States. As the excitement over an incredibly close election starts to abate, analysts will take a closer look at how a Biden presidency may […]

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Critics grumble as YieldWars uses AP election call as an oracle

YieldWars used Associated Press data to settle their prediction market, but some question the validity of using their call as an oracle Following the Associated Press’ call earlier today that President-elect Joe Biden had won victory over incumbent Donald Trump in the U.S. presidential race, the 174 year-old organization — which has been covering elections since 1848 — subsequently published their call on the Ethereum and EOS blockchains, triggering at least one prediction market outcome.  However, some have expressed skepticism about the validity of using such a […]

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Cash App’s Bitcoin Revenue Soars 1,000% to $1.63 Billion in Q3, Square Announces

Cash App, a mobile payment service of Square Inc., generated more than $1.63 billion in bitcoin revenue in Q3 2020, which is an increase of more than 1,000% over the same period last year. The company recently invested 1% of its total assets, or $50 million, into bitcoin. Cash App’s Bitcoin Revenue Soars Square Inc. released its Q3 2020 earnings report on Thursday. The NYSE-listed (NYSE: SQ) company with a market capitalization of $86 billion provides software and hardware payments products and small business services. Its CEO […]

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Crypto fund’s unlikely strategy: Taking on Bitcoin and S&P 500 returns

A crypto fund is buying up Bitcoin at a major discount in a high-risk, high-return game. What are the odds of outperforming BTC itself? Bitcoin has been one of the best-performing assets on the planet since its launch in 2009. The digital coin rose nearly 9 million percent in price between 2010 and 2019. Simply holding or averaging into Bitcoin (BTC) positions yields a certain profit benchmark. Finding an investment or trading strategy that outpaces Bitcoin’s performance can prove difficult, but a financial fund known as Off The Chain […]

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A minister’s look at what regulators expect from the industry

Regulation can add value by strengthening the reputation of a marketplace and creating the conditions to unlock innovation and enhance it. Regulation is sometimes positioned as the enemy of innovation, an antagonistic force that reduces progress in the name of bureaucracy. However, when implemented sensitively and proportionately, regulation can strengthen a private sector’s reputation by creating the conditions necessary for businesses to focus on and enhance innovation. Getting this right means working with entrepreneurs and providing them the opportunity to innovate and experiment while also enforcing standards […]

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Circle’s high-yield USDC business accounts take aim at DeFi

High yields and frequent interest payments on Circle’s business accounts may be designed to compete with DeFi protocols Originally launched as an attractive alternative to traditional fiat business accounts for Internet-based ventures, the latest features for the Circle Business Account appear to take aim at a different kind of competitor: the decentralized finance (DeFi) ecosystem.  Circle, the Goldman Sachs-backed payments company and issuer of the USDC stablecoin, announced their Circle Business Account service on March 10, 2020. The accounts featured a suite of services designed to help […]

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4 on-chain metrics suggest Bitcoin price rally may not stop at $16,000

Bitcoin price is defending the $15,000 support and on-chain data signal that the rally may continue beyond $16,000. After rejecting at $15,960 on Nov.6 Bitcoin (BTC) price has been defending the $15,000 support level with strength. Based on four on-chain data points, analysts believe the rally might continue beyond $16,000. Analysts have pinpointed lower Bitcoin exchange reserves, unmoved supply, a rise in “stronger hands,” and unrealized profits as factors for the rally to continue. The number of BTC held on exchanges drops Recently, Delphi Digital, an independent […]

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Another Mysterious String of 1,000 ‘Satoshi Era’ Bitcoins Mined in 2010 Moved Today

On November 7 at around 12:37 a.m. (EST), another string of so-called ‘sleeping bitcoins’ were moved for the first time since 2010. The peculiar movement stemmed from 20 blocks from 2010 with approximately 1,000 BTC spent ($15.5 million) in a single block. 2020 has been a wild year and in the Bitcoin world, it’s been no different. This year a great number of decade-old bitcoin addresses often referred to as ‘sleeping bitcoins’ or ‘zombie coins’ have been spent. On October 14, news.Bitcoin.com reported on an old coinbase […]

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