Bitcoin Ownership Steadily Shifts From Whales to Small Investors, Data Shows

The amount of bitcoin held by small investors has more than doubled in the past five years as so-called whale holdings declined by an almost similar margin during the same period. According to new data from Glassnode, the percentage of supply owned by entities holding 10 BTC or less has grown from 5.1% to 13.8% since June 2015. At the same time, whale-sized bitcoin wallets holding between 100 to 100,000 BTC have dropped to 49.8% from 62.9% five years ago. The figures suggest mass adoption is on the rise and…

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Grayscale Investments’ Ethereum Trust Filed With the SEC to Obtain Reporting Status

The digital currency asset manager Grayscale told investors on Thursday that the firm has publicly filed a Registration Statement on Form 10 with the Securities and Exchange Commission (SEC) for the company’s Ethereum Trust. The recent filing is voluntary and if the SEC approves the registration, the Ethereum Trust will be the second crypto asset investment vehicle to obtain the status of a reporting company by the SEC. Established in 2013 by Digital Currency Group, Grayscale Investments has been around for quite some time now. The firm manages a number…

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Bitmain Delays Delivery of Bitcoin Miners by Three Months, as Co-Founders Battle for Company Control

Bitmain has delayed shipments of its Antminer bitcoin mining machines by three months, as the tussle between co-founders, Jihan Wu and Micree Zhan Ketuan, for control of the company intensifies. According to a post on Bitmain’s official Wechat account, the Beijing-based bitcoin miner maker said customers whose orders were due for delivery in June and July will have to wait until September and October. The equipment is typically ordered three months prior to delivery. That means the postponed shipments may have been ordered around March, making this a costly six-month…

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Testimony From Craig Wright’s Ex-Wife Throws a Twist in the Billion Dollar Bitcoin Lawsuit

On June 30, a jury trial was scheduled for the notorious Kleiman v. Wright lawsuit on October 13. Now a recent filing from the plaintiffs notes that when Craig Wright’s ex-wife Lynn Wright recently testified, she revealed a number of interesting findings. Lawyers representing the Kleiman estate say her testimony brings the “infamous “Tulip Trust” into question and that it wasn’t a “‘blind trust’ as previously alleged.” In mid-July, news.Bitcoin.com reported on the deposition of Craig Wright’s current wife Ramona Watts and her understanding of how bitcoin private keys work.…

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Bluehelix Global Expansion – Strategically Cooperates with Japanese Licensed Exchange Xtheta

“Japanese licensed exchange Xtheta officially announced that it has a strategic partnership with Bluehelix, the leading blockchain financial infrastructure technology service provider, which to provide Xtheta with the underlying blockchain financial technology services to accelerate Xtheta’s global market advancement.” — Not long ago, an industry news story raised concerns in the Japanese digital currency community. Back in April 2017, Japan‘s Financial Services Agency (FSA) enacted an amendment to the Asset Settlement Act to provide strong regulation of digital asset exchanges, which sets out the operating standards for exchanges, introduces the…

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

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,…

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Bitcoin P2P Trading Soars in India as New Exchange Launches

Bitcoin P2P trading volume in India has been growing rapidly, hitting record highs over the past weeks. Meanwhile, a new P2P trading platform has launched in India as the crypto industry awaits the government’s decision on a cryptocurrency law. P2P Trading Volume Soars in India Peer-to-peer (P2P) bitcoin trading in India has been hitting all-time highs over the past weeks. The growth accelerated after the country’s supreme court quashed the circular by the central bank, the Reserve Bank of India (RBI), in March that banned banks from providing services to…

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Peer-to-Peer Bitcoin Trading Tops $95 Million as Sub-Saharan Africa Records Set All Time High

Weekly peer-to-peer bitcoin trading volumes topped $95 million globally with several countries recording new all-time highs for the year. The record trading volumes coincided with the most bullish week for cryptocurrencies with bitcoin (BTC) briefly trading above $12,000. As data from Usefultulips shows, peer to peer bitcoin trading volumes for the week topped an equivalent of $95 million. The figure surpasses $92.4 million, the highest weekly volume value in 2019. The data combines trading volumes at two peer-to-peer trading platforms, Localbitcoins and Paxful. According to the same data, the month…

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S2F Price Model Suggests Bitcoin Price Hits $100K – Author Claims Model Is Perfectly on Track

The author of the controversial bitcoin stock-to-flow (S2F) price model said that at current prices the S2F model is “perfectly on track.” S2F shows the price could hit around $30,000 by the year’s end and by August 2021 prices could be $100,000 per bitcoin. The crypto asset bitcoin (BTC) is up over 24% over the last 30 days and up more than 16% during the last 90 days. BTC touched a 2020 high of just above $12,000 per coin before tumbling 10.9% last Sunday. With the price giving traders optimism…

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Bitfinex Offers $400 Million in Rewards to Get Back 120,000 Stolen Bitcoins

Cryptocurrency exchange Bitfinex is offering rewards of up to $400 million to the hackers who stole almost 120,000 bitcoins from its platform in 2016 as well as anyone putting it in touch with the hackers. Up to $400 Million Reward for the Recovery of Stolen Bitcoins Bitfinex announced on Tuesday that it is offering up to $400 million in rewards for the recovery of almost 120,000 bitcoins that were stolen from its platform in August 2016. Not only is the exchange offering a reward to any persons connecting it with…

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