In his weekly Forbes column, Ron Shevlin looks at the increase in trading volume of the major cryptocurrencies in 2020;...
A consensus over the upcoming bitcoin split was not reached and the plan was cancelled; the hope was for a new version that could handle double the number of transactions; upon hearing the news bitcoin’s value shot up to over $7,800; the current version can only handle about five transactions per second and to compete with names like PayPal and Visa that will need to change at some point in the future. Source.
The company has raised the money from investors which includes Draper Esprit Plc; Ledger sells USB keys that allow for secure storage of cryptocurrencies; funds will be used to expand the team and on research and development; they plan to sell between 3 and 6 million hardware wallets in 2018 and have sold about a million so far; total revenue in 2017 was $56 million; Ledger has offices in Paris and San Francisco. Source
Bittrex customers are unable to withdraw money from the cryptocurrency exchange and they have not heard from the company as to why this is occurring; the main issues appear to be involving verification of identities when they try to withdraw the money; the issues have been going on for close to 30 days for some customers and the company said the issue has only affected a small number of accounts. Source.
Crypto lending startup BlockFi secured more than $52mn in funding from Mike Novogratz’s Galaxy Digital Ventures. The round will be split...
Stock markets have had quite the year in 2020 and bitcoin, which is always volatile, has also had a big...
Bitcoin rose 5 percent yesterday to $10,300, which is a five-month high, after comments from Federal Reserve Chair Jerome Powell...
Prices of cryptocurrencies NEO, OMG and ETP crashed close to 90 percent on the Bitfinex exchange before reverting back to normal levels; the crash caused the closure of many accounts that made leveraged trades and lost those accounts thousands in potential profits; Bitfinex claims the exchange worked as it should in the situation, but traders disagreed and complained via social media about the crash as well as demanding refunds; the site was slow to respond and traders unable to access their accounts according to complaints; incidents like this test the overall cryptocurrency markets as many believe they are unstable and not safe. Source.
BlockFi offers loans to those who own cryptocurrencies; the company is currently in a beta launch and is lending in 35 states; ConsenSys Ventures, Kenetic Capital, PJC, SoFi, Purple Arch Ventures and Lumenary participated in the round. Source
Bloomberg published a note in the last few days saying Bitcoin could double to $20,000 before the year is over;...