Thursday, August 6Your Daily Bitcoin & Altcoin News Portal

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Bitmain Delays Antminer Shipments Amid Internal Conflicts

Bitmain Delays Antminer Shipments Amid Internal Conflicts

BITCOIN
Please share if you find this article interesting. Bitmain Delays Antminer Shipments Amid Internal Conflicts Bitmain, the world’s largest Bitcoin (BTC) mining hardware company, is postponing its product orders amid ongoing internal conflicts. As officially announced on Aug. 6, Bitmain will be delaying their June and July 2020 Antminer orders by at least two or three months due to “external interference on company operation.” According to the announcement, the orders will be postponed until September or October 2020 “at the earliest.” Bitmain drama is to blame While Bitmain is citing “external interference,” some industry experts are confident that the delay is caused by internal issues at the company. Dovey Wan, founding partner of blockchain investment firm Primitive Ventures, t
Reviving Tourism and User Privacy Via Blockchain-Based ID Systems

Reviving Tourism and User Privacy Via Blockchain-Based ID Systems

BITCOIN
Please share if you find this article interesting. Reviving Tourism and User Privacy Via Blockchain-Based ID Systems Countries all over the world are feeling the impact of COVID-19, as travel restrictions have virtually put an end to tourism for this year. To put this into perspective, recent statistics from Hawaii’s Maui News found that in June of this year, 1,929 visitors came to Maui, while the island welcomed 287,449 visitors the same time last year. According to Statista, European destinations like Spain and Italy are also likely to feel an economic impact due to the decline in visitors this summer. Unsurprisingly, a number of coronavirus contact-tracing apps have emerged to help revive the global tourism industry, which generated $8.27 trillion in revenue in 2017. Yet, whil
Bitcoin Price Nears $12K Again as Gold Correlation Hits Record

Bitcoin Price Nears $12K Again as Gold Correlation Hits Record

BITCOIN
Please share if you find this article interesting. Bitcoin Price Nears $12K Again as Gold Correlation Hits Record Bitcoin (BTC) saw fresh gains on Aug. 6 as bulls refused to rest and the price steamed toward $12,000. Cryptocurrency market daily snapshot Aug. 6. Source: Coin360 BTC price recovers $1,200 crash losses Data from Coin360 and Cointelegraph Markets showed BTC/USD tackling $11,900 on Thursday, with 24-hour gains at 2.2%. With barely any let-up, Bitcoin has recovered almost all its lost ground over the course of this week, just four days after it shed $1,200 in minutes after initially passing the $12,000 mark. With its latest move, the largest cryptocurrency thus beat out resistance earmarked by analysts as the next hurdle for bulls. “Essentially new resistance hit here
Grayscale Ethereum Trust Files To Become An SEC Reporting Company

Grayscale Ethereum Trust Files To Become An SEC Reporting Company

BITCOIN
Please share if you find this article interesting. Grayscale Ethereum Trust Files To Become An SEC Reporting Company On August 6, Grayscale Ethereum Trust filed to become an SEC reporting company. Amidst the Ethereum (ETH) bull run, Grayscale Investments voluntarily decided to make its Ethereum Trust an SEC reporting company. The company’s best known investment product is a Bitcoin Trust that holds around 400,000 Bitcoin (BTC). Additionally, its Ethereum Trust currently has 1.9 million ETH in its possession. Together, this represents $746 million in assets under management. As with other Grayscale products, Coinbase is acting as a custodian. Grayscale noted that the filing is under review. If approved, it would be the second cryptocurrency investment vehicle to attain such status
Square’s Cash App Bitcoin Revenue Surges 600% to $875 Million in Q2, Profit Up 711% | News Bitcoin News

Square’s Cash App Bitcoin Revenue Surges 600% to $875 Million in Q2, Profit Up 711% | News Bitcoin News

BITCOIN
Please share if you find this article interesting. Square's Cash App Bitcoin Revenue Surges 600% to $875 Million in Q2, Profit Up 711% | News Bitcoin News Square Inc. has reported a significant bitcoin revenue increase in the second quarter. Its Cash App generated $875 million in revenue, a 600% increase from the previous year. In addition, Square’s bitcoin gross profit jumped 711%. Square Cash App’s Bitcoin Revenue Square released its performance report for Q2 2020 on Tuesday. The company’s net revenue, including bitcoin revenue, was $1.92 billion, an increase of 64% year over year. Its gross profit, including from its bitcoin business, rose 28% year over year to $597 million. Cash App, Square’s popular payment service, achieved gross profit of $281 million, up 167% from last
Dapper Labs Raises $12M From VC Firms and NBA Players, Nets $1.2M in NFT Sales

Dapper Labs Raises $12M From VC Firms and NBA Players, Nets $1.2M in NFT Sales

BITCOIN
Please share if you find this article interesting. Dapper Labs Raises $12M From VC Firms and NBA Players, Nets $1.2M in NFT Sales Dapper Labs, the team behind CryptoKitties and NBA Top Shot, has secured $12 million in the latest investment round for its Flow blockchain. New investors include Coinbase Ventures, BlockTower Capital, and NBA players Andre Iguodala of Miami Heat, Spencer Dinwiddie and Garrett Temple of the Brooklyn Nets, JaVale McGee of the Los Angeles Lakers, and Aaron Gordon of the Orlando Magic. Dapper’s chief executive and founder, Roham Gharegozlou, stated that the funding will be used to “ensure that Flow can scale to the size of projects appealing to fan bases as big as the NBA.” Dapper Labs has now raised approximately $38 million in total. NBA Top Shot sees e
China’s State-Run Banks Reportedly Testing Wallet for Digital Yuan

China’s State-Run Banks Reportedly Testing Wallet for Digital Yuan

BITCOIN
Please share if you find this article interesting. China’s State-Run Banks Reportedly Testing Wallet for Digital Yuan A group of state-run commercial banks in China are reportedly conducting a large-scale internal testing of a digital wallet designed for China’s national digital currency, the digital yuan. According to an Aug. 5 report by Reuters, the banks are testing the wallet application to transfer money and make payments in China’s central bank digital currency, or CBDC. As reported, the development was initially revealed to China’s state-backed newspaper the 21st Century Business Herald by several employees at involved state banks in cities including Shenzhen. The new development represents another major milestone in China’s progress in adopting the digital yuan and comes
OKCoin’s Fourth Developer Grant Recipient Brings Total Grants to Over $500K

OKCoin’s Fourth Developer Grant Recipient Brings Total Grants to Over $500K

BITCOIN
Please share if you find this article interesting. OKCoin’s Fourth Developer Grant Recipient Brings Total Grants to Over $500K Crypto exchange OKCoin has continued to support Bitcoin (BTC) Core developers with a fourth grant being awarded to Bitcoin’s most active contributor since 2017, Marco Falke for an undisclosed six-figure sum.  This grant brings the total amount provided as part of the company’s Independent Developer Grant to over $500,000. OKCoin believes that funding open-source development of the Bitcoin network is critical to the growth of the entire crypto ecosystem.  CEO Hong Fang said, “Supporting Marco’s work on strengthening the testing framework in addition to his general responsibilities as a maintainer is important to continuing quality development.”  Crucial de
First Mover: Bitcoin Rises More in One Day Than Stocks Have Gained All Year

First Mover: Bitcoin Rises More in One Day Than Stocks Have Gained All Year

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. First Mover: Bitcoin Rises More in One Day Than Stocks Have Gained All Year Bitcoin prices surged 5% on Wednesday, outpacing stocks and gold amid calls for more government stimulus, as the economic toll of the coronavirus mounts. The oldest and largest cryptocurrency rose to $11,755. The price is now approaching $12,000 for the second time in a week, a level that bitcoin hasn’t sustainably traded above for more than a year.  You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you do
Chainlink Rival Band Protocol Surged 65% Overnight — 3 Reasons Why

Chainlink Rival Band Protocol Surged 65% Overnight — 3 Reasons Why

BITCOIN
Please share if you find this article interesting. Chainlink Rival Band Protocol Surged 65% Overnight — 3 Reasons Why Band Protocol (BAND), a rival blockchain network to Chainlink (LINK) — which is also at an all-time high — surged by 65%. Within 24 hours, BAND rose from $4.825 to $8, setting a new record high. Three major catalysts appear to have triggered the rally of BAND, namely the DeFi (decentralized finance) boom, Coinbase listing and new partnerships. The daily chart of BAND. Source: TradingView.com DeFi boom Since June 1, the total value locked in DeFi protocols increased from $1.04 billion to $4.47 billion. The valuations of DeFi-related project tokens has risen substantially as the capital involved in the DeFi space surged by more than four-fold. Band Protocol, like C