Nigeria's Foreign Currency Crisis Boon for Bitcoin: Country Tops Wallet Downloads Ahead of the US

Nigeria's weakening naira currency, as well as the shortage of U.S. dollars, are forcing businesses to switch to bitcoin as the means of settling payments for international transactions. Nigerian businesses need the American currency to buy new supplies, as well ... read more.

Grayscale's Litecoin and Bitcoin Cash Trusts Trade for Tremendous Premiums

This week data from Arcane Research shows theres been massive demand for Grayscale's recently launched publicly traded crypto trusts. Following the trusts getting DTC eligibility last monday LTCN (litecoin) shares have been selling for a 753% premium while BCHG (bitcoin ... read more.

IRS Prioritizes Cryptocurrency, Now First Question on 1040 Tax Form

The new U.S. tax form is out and the cryptocurrency question is the first one on the main 1040 tax form used by about 150 million people to file their taxes. The Internal Revenue Service (IRS) requires all tax filers ... read more.

Stock Trader Dave Portnoy Dives Into Bitcoin, Only to Panic-Sell After Chainlink Plunges

High profile stock trader Dave Portnoy has panic sold his bitcoin one week after he got into cryptocurrency. He cited the falling price of chainlink, another of his crypto investments, as the main reason. Dave Portnoy Got in and Out ... read more.

12 Bitcoin Cash-Fueled Flipstarter Campaigns Raise $1 Million

The Flipstarter platform has gained traction in the last five months raising $1 million in bitcoin cash for 12 different campaigns. In a recent read.cash blog post, the team behind Flipstarters development said the application demonstrates how stakeholder funding of ... read more.

Iran Shuts Down 1,100 Illegal Bitcoin Miners; Whistleblowers Rewarded $2,400

Irans Power Generation, Distribution, and Transmission Company (Tavanir) has reportedly shut down 1,100 illegal bitcoin mining farms in the country, local media reported. Whistle-blowers tipped off authorities on unauthorized miners following a July announcement of rewards including 100 million rials ... read more.

Re-Mining Simulation Shows Satoshi Used a Single High-End PC to Mine 1.1M Bitcoin

Cryptocurrency advocates have been recently discussing the mysterious Bitcoin inventor Satoshi Nakamoto as RSKs chief scientist, Sergio Demian Lerner, published a paper called The Patoshi Mining Machine. Essentially, Lerner simulated Satoshis mining experience. The findings estimate that Bitcoins creator used ... read more.

New Demand for Cryptocurrencies: Trading on Bitcoin Cash KYC-Free Exchange With Blind Escrow

Governments are injecting record levels of new money into economies to contain the impact of shutdowns. Restrictions imposed on people in countries all over the world have forced many to look for alternative but safe ways of transacting. This is ... read more.

Brazilian Crypto Companies to Self-Regulate: Target a $100 Billion Market by Year-End

Brazilian crypto companies have signed a code of self-regulation that aims to legitimize and to boost adoption of crypto assets in the country. The document was signed under the auspices of Abcripto, the countrys association of cryptocurrency companies. According to ... read more.

IMF Publishes Cryptocurrency Explainer, Saying It 'Could Be the Next Step in the Evolution of Money'

The International Monetary Fund (IMF) has published a video explaining what cryptocurrency is. Besides suggesting that cryptocurrency could "completely change the way we sell, buy, save, invest, and pay our bills," the video states that it "could be the next ... read more.

Bitmex Restricts Ontario Residents as Mandated by Canadian Regulator

Cryptocurrency derivatives exchange Bitmex will be restricting access to users from Ontario, Canada, starting the beginning of next month. The company says the restrictions are mandated by the Ontario Securities Commission (OSC). Bitmex Stops Servicing Users in Ontario Bitmex, a ... read more.

Corporate Crypto Reserve Status: Software Firm Snappa Swaps 40% Cash Reserves for Bitcoin

On Monday, Canadian graphics software company, Snappa, revealed that it was holding bitcoin as a reserve asset. Snappa follows the firms Microstrategy and the Canadian restaurant chain Tahini's by deciding to convert cash reserves into the scarce crypto asset. The ... read more.

The Bitcoin Network Now Consumes 7 Nuclear Plants Worth of Power

The SHA256 hashrate that secures the Bitcoin network has grown massively during the last few years, as Bitcoin's processing power has touched all-time highs in 2020. Moreover, the gigawatts of electrical consumption powering industrial bitcoin mining today consumes as much ... read more.

Venezuela Blocks Opposition From Disbursing $18 Million To Health Workers via Bitcoin Exchange Airtm

Venezuela has blocked the main opposition from distributing $18 million worth of cash previously seized by the U.S. from the Nicolas Maduro government. The money is being dished out via peer-to-peer (P2P) crypto exchange Airtm to 62,000 healthcare workers starting ... read more.

P2P Cryptocurrency Exchanges in Africa Pivot: Nigeria and Kenya the Target Markets

Leading cryptocurrency exchanges are bullish about Africas growth prospects as evidenced by their ongoing forays into the continent. During the month of August, Kucoin crypto exchange announced the addition of Nigerias naira currency as a payment option on its peer-to-peer ... read more.

Analysts Predict US Presidential Election Outcome Could Collapse Dollar, Boost Bitcoin and Gold

Analysts have predicted a bearish outlook for the U.S. dollar as the country's 2020 presidential election approaches. One analyst says gold will correct with Donald Trump's victory followed by the collapse of the U.S. dollar. Bitcoin, on the other hand, ... read more.

Increase Your Profit Potential With Margin Trading

Spot trading is a popular way for investors to access the crypto market in a straightforward manner. Its mainly fiat-to-crypto trading, as well as crypto-to-crypto trading. Its simple, you get a crypto wallet, you buy a token with fiat currencies, ... read more.

Riot Blockchain Buys 8,000 of Bitmain's Latest Bitcoin Miners, Company Targets 1.5 EH/s by 2021

Bitmain Technologies Inc. said Monday that Nasdaq-listed Riot Blockchain is buying 8,000 of its Antminer S19 Pro bitcoin miners in a deal worth $17.7 million. In a blog post, the Chinese crypto mining hardware maker stated that the machines will ... read more.

Aave Protocol Outpaces Maker With $1.4B Locked, Defi Project Granted UK Electronic Money License

The decentralized finance (defi) open-source protocol built on Ethereum, Aave, has surpassed the Maker Dao project in terms of total-value-locked (TVL) this week. The lending and borrowing platform Aave has $1.43 billion locked on Tuesday climbing 7.7% in the last ... read more.

Developers Plan to Compete in Bitcoin Cash-Fueled Hackathon 'BCH Devcon III'

On September 4-6, Bitcoin Cash engineers will be holding the third annual developers' conference dubbed "BCH Devcon III." More than 30+ bitcoin cash ($8,300) will be available in prizes for winning teams who participate in the 72-hour hackathon. Software developers ... read more.

Hyperinflation and Currency Collapse Fears After Zambian President Fires Central Bank Governor

Zambian President Edgar Lungu fired the country's central bank governor Denny Kalyalya last week sparking fears that government wants to end the institutions independence. Kaylalya was immediately replaced by Christopher Mvunga who reportedly has close ties to the President. The ... read more.

Official Notice Says Cheap Electricity to End for Inner Mongolian Bitcoin Miners

Regional reports say that officials from Inner Mongolia delineated 21 bitcoin mines, as the region plans to stop subsidized electrical rates for certain data firms. Unless the bitcoin mining facilities pack up and migrate, mining farms may see an electrical ... read more.

IRS Sends Fresh Round of Tax Warning Letters to Cryptocurrency Owners

The U.S. Internal Revenue Service (IRS) has begun sending new warning letters to cryptocurrency owners. This followed the tax agency prioritizing cryptocurrency on its tax forms. "The IRS is getting very serious about cryptocurrency tax compliance," a tax expert told ... read more.

Report: Russia Remains a 'Key Market for Crypto,' Commands the 3rd Largest Bitcoin Hashrate in the World

The fervor for cryptocurrency assets in Russia has grown wild over the last few years. This week Xangle Research published a comprehensive report about digital currencies and the Russian environment in 2020. The study's findings show that Russia is one ... read more.

Crypto Exchange FTX Buys Blockfolio for $150 Million in Effort To Expand Retail Presence

Cryptocurrency derivatives exchange FTX has acquired the popular portfolio tracking app Blockfolio for $150 million in a bid to gain a foothold in the crypto retail market. The deal - consummated after nine months of negotiation - was settled using ... read more.

Korean Police Seize Crypto Exchange Coinbit Over Allegations of $84 Million in Wash Trades

Police in South Korea on Wednesday raided and seized the offices of Coinbit, the countrys third largest crypto exchange, over allegations it faked 99% of its trading volume. According to a report from Seoul News, local police took control of ... read more.

Dash Nigeria Takes Digital Currency Education Campaign to Regulators and Key Institutions

With sophisticated fraud schemes seemingly overwhelming the African crypto market, there is a growing need for players in the space to help fight this scourge. Some are responding through increased educational campaigns, which they hope will not only turn the ... read more.

Capturing Petahash: Marathon Obtains 3,300 Bitcoin Mining Rigs, Acquires Fastblock for $22 Million

The Nasdaq-listed cryptocurrency mining company, Marathon Patent Group, has announced it will be purchasing Fastblock Mining in an all stock transaction. The firms letter of intent revealed Marathon will acquire Fastblock for around $22 million. The company will obtain 3,304 ... read more.

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