News archive

Bitcoin Miners Double Revenue: Fees Spiked Over 200% in 10 Days Sin…

Bitcoin (BTC) miners earned 44% more in transaction fees in the nine days since the halving than they did for the whole of April. If this continues miners will have more than doubled their income from transaction fees going forward.

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Venezuelans Can Now Use Bitcoin to Pay for Goods at 20,000 PoS Term…

Venezuelans will now be able to use bitcoin to pay for goods and services at more than 20,000 point-of-sale (PoS) terminals throughout the struggling South American country.

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Bitcoin Mining Difficulty Drops by 6% In First Adjustment After Hal…

The Bitcoin network just fine-tuned a key parameter to coax back miners who quit after last week's halving hammered their profits.

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Bitcoin Loophole: Wanna Make $13K in 24 Hours? This Crypto Trading…

A bitcoin investment scheme claiming to help people make over $13,000 within 24 hours has recently gained more attention. Bitcoin Loophole claims to be an algorithmic crypto trading app that enables its members to make daily profits and become millionaires within 61 days. However, it is a scam associated with a different kind of investment.

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45 Older-Generation Bitcoin Miners Are Unprofitable After the Rewar…

On May 11, the Bitcoin network experienced its third block reward halving, which had chopped the 12.5 BTC reward to 6.25 coins following the event. It’s been close to a week later, and data stemming from mining rig profitability websites show that more than 45 older generation devices are not profitable right now at today’s bitcoin exchange rates.

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Crypto.com Rolls Out Visa Card to 31 European Nations

Crypto.com said Friday it has begun shipping its crypto-to-fiat card, the MCO Visa, across the European Union.

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Australian Woman Charged With Unlawfully Exchanging Over $3M in Crypto

An Australian woman has been charged by New South Wales State Police for unlawfully exchanging millions of dollars-worth of cryptocurrency including bitcoin.

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Bitcoin Network Sees a Massive Mining Pool Shift Following the Halving

Following the third bitcoin halving on May 11, 2020, there’s been a big shift in mining pool distribution, as far as hashrate is concerned. At the time of publication, there’s around 100-115 exahash per second (EH/s) in search of bitcoin blocks and spectators have seen two relatively unknown mining pools join the top mining pool contenders.

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Many Ether Whales Might Be Leaving for Bitcoin: Data

While ether’s (ETH) price has risen by nearly 50% this year, the number of addresses holding large amounts of the currency, popularly known as whales, has declined significantly. 

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First Mover: Dull Bitcoin Halving Salvaged by Satoshi Tribute in Bl…

Bitcoin's halving, the subject of amped-up buzz, hype and speculation since late 2019, proved anticlimactic on Monday as prices slid for a third straight day and the blockchain network slowed to a crawl.

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Hut 8 Mining Revenue Continues Decline in Q1

Hut 8 Mining, one of Canada’s largest mining operations, reported less-than-stellar first-quarter 2020 earnings Monday, the same day as the bitcoin halving.

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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 and all forecasters are struggling to make out where the economy stands now,” one economist described.

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65% of Global Bitcoin Hashrate Concentrated in China

A new bitcoin mining map by the University of Cambridge shows that China accounts for 65% of the world’s hash power. About half of the country’s hash rate is produced in just one place, the autonomous Xinjiang region, which makes up 35.76% of the global total.

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Cointext CTO Reveals a New Protocol That Aims to Bolster a Censorsh…

On May 7, the Cointext CTO and cofounder of Countermarkets, Vin Armani revealed a new project he’s been working on called “Signal, Watch, and Pay Protocol” (SWaP). Armani’s published specification and reference code of SWaP indicates that the platform allows “onchain, peer-to-peer negotiation and execution of ‘collaborative transactions.’”

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One of Bitcoin’s Earliest Miners Is Dedicating $66M in Crypto to a…

Bixin, one of the earliest bitcoin miner operators and wallet startups, is dedicating 6600 bitcoin, worth $66 million, to a new fund of funds.

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Schlesi Testnet Is Latest Step in Long Road Toward Eth 2.0

Another Eth 2.0 testnet, Schlesi, is live in what amounts to one more step in the trek toward the Proof-of-Stake (PoS) Eth 2.0, the next iteration of the Ethereum blockchain.

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Libra Association Names HSBC Chief Legal Officer as First CEO

The Libra Association has named HSBC Chief Legal Officer Stuart Levey as its first chief executive.

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US Real Estate Market Shudders: Experts Predict 40% Lower Sales, Ma…

According to the National Association of Realtors, pending contracts for property sales dropped by 20.8% in March. Further, the 30-year fixed mortgage interest rate dropped to 3.43%, but a great majority of people are still not interested in buying or renting homes at the moment.

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Data Shows the US Economy Was Collapsing 5 Months Before the Corona…

During the last two months, the global economy has shuddered and a great number of people still attribute the financial meltdown to the Covid-19 outbreak. However, during the last two weeks, the blame has shifted, as many citizens are now blaming the government lockdowns, overly-predictive models, and industry shutdowns.

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While the Global Economy Shudders, Andreessen Horowitz 'Excited' to…

The private venture capital firm Andreessen Horowitz (a16z) has announced the company is investing $515 million into the cryptocurrency industry. The firm says its “excited” to bolster crypto networks and businesses. Further, the company hopes to strengthen ideas like next-generation payments, a modern store of value, decentralized finance, content monetization, and Web 3.0 concepts.

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Bitcoin Lender Genesis Global Issues $2 Billion in Loans During Rec…

Genesis Global Trading has reported a 100% jump in new loan originations in the first quarter. The cryptocurrency lender and trading platform added a record $2 billion in new loans in the three months leading to March 2020, up $1 billion from the previous quarter. BTC accounted for 44.8% of the loans and bitcoin cash (BCH) 5.8%.

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Japan Implements Significant Changes to Cryptocurrency Regulation T…

Major changes are happening in the cryptocurrency space in Japan as new cryptocurrency regulation enters into force today. Among notable changes are the regulation of crypto custody service providers and crypto derivatives businesses. Japan has 23 regulated crypto exchanges; unregulated platforms have modified their terms of service affecting Japanese residents.

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Blockchain Bites: What the Bitcoin Halving Means for Miners and Prices

Predictions and price models proliferate ahead of Bitcoin's programmatic halving, expected in less than two weeks.

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US Transportation Dept. Says Blockchain Could Bring More Trust to C…

Safety and data protection are major concerns when it comes to the growing use of commercial drones, but blockchain could provide a working solution, according to a recent report by the U.S. Department of Transportation (DoT).

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Chinese City Known for Bitcoin Mining Seeks Blockchain Firms to Bur…

A Chinese city in the world's bitcoin mining hub is publicly encouraging the blockchain industry to help consume excessive hydroelectricity ahead of the summer rainy season.

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Ether Futures Activity Grows Ahead of July Protocol Upgrade

BitMEX announced an ether quarterly futures product Friday, which it described as “the only one of its kind available in the market.” Settled in bitcoin, the contract trades the ether-dollar pair, and expiry is in June. This coincides with the scheduled ETH 2.0 launch in July, which Ethereum researchers are confident will happen, as CoinDesk previously reported.

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New Crypto Bridge Will Make Tether Transactions Cheaper, CTO Says

Tether's CTO hopes a new EOS-Bitcoin interoperability bridge could one day make tether cheaper and faster because users will be able to make transactions on less-congested blockchains.

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SEC, Kik Continue Court Clash Over $100M Kin Token Sale

The SEC and Kik both filed oppositions to the other party’s motions for summary judgement late Friday, reiterating their arguments in the case and their respective takes on whether statements collected during the court battle to date are complete and accurate. 

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Why Global Deflation May Not Be Bad News for Bitcoin

Contrary to expectations, bitcoin could see a positive performance during a possible bout of global deflation if it acts not just as an investment asset, but as a medium of exchange and a perceived safe haven like gold. 

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Ripple Sues Youtube For Allowing Scams That Promised Returns Up to…

Ripple is suing Youtube, accusing the video platform of not doing enough to eliminate crypto-related “giveaway” scams. The payment network wants to force Youtube to protect its users from such scams. Some scammers promise returns up to 5 million XRP or about $930,000 at current prices, but participants in the “giveaway” never received the money, according to court papers.

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