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New York-based Quontic Bank has become the first FDIC-insured financial institution to launch a bitcoin rewards checking program. Announced Tuesday, the program includes a bitcoin (BTC, +1.22%) rewards debit card (1.5% back), mobile app, access to ATMs, and mobile payments options like Google Pay and Apple Pay. The bank had to receive approval from the U.S. Office of the Comptroller...
"Bitcoin means trusting a SHA256 algorithm more than the U.S Treasury," quipped Blockfolio. Crypto players were quick to respond to the news that hackers breached the U.S. Treasury Department. The incident happened less than a month after Donald Trump fired Department of Homeland Security cybersecurity chief Chris Krebs. However, Reuters stated that the hackers had been monitoring NTIA staff emails...
The company reportedly hopes to achieve "measured yet meaningful exposure to a growing economic aspect of our increasingly digital world." Massachusetts-based insurance firm MassMutual just announced that it has purchased $100 million in Bitcoin for its general investment account. According to a report from The Wall Street Journal, the company purchased the coins â purportedly 5,470 Bitcoin (BTC) given the...
Londonâs Standard Chartered bank has gathered a group of crypto exchanges for a new digital asset trading platform tailored to the institutional market, according to two sources familiar with the plan. Standard Charteredâs crypto trading group comprises five of the biggest over-the-counter (OTC) traders and four exchanges, and will include an Ethereum-based settlement token, a well-placed source told CoinDesk. The...
Bitcoin miners generated an estimated $522 million in revenue in November, up 48% from October, according to on-chain data from Coin Metrics analyzed by CoinDesk. The sharp revenue increase came as bitcoin soared through November, setting a new all-time high by monthâs end after gaining over 40 percent. Monthly aggregate revenue in November hit the highest level since September 2019....
Zhao says he expects Binance to have profits of $800 million to $1 billion this year, up from about $570 million last year, as market uncertainty pushes traders into digital coins. Changpeng Zhao, who goes by CZ, started his business in 2017. By that point, the world was littered with failed exchangesâ see Mt. Gox, 2014. But Zhao had experience...
S&P Dow Jones Indices, a major financial data firm, said Thursday it will launch a customizable cryptocurrency indexing service in partnership with crypto data provider Lukka in 2021. The coming product is poised to become a hub for cryptocurrency pricing data at a time when more Wall Street investors than ever are searching. This yearâs bull run is said to...
Visa Inc. is partnering with cryptocurrency startup BlockFi to offer a credit card that rewards purchases with Bitcoin rather than airline miles or cash. Users of the Bitcoin Rewards Credit Card will receive 1.5% of their purchases back in the worldâs most-valuable digital asset, and a lump sum $250 in the crypto-asset if they spend more than $3,000 in the...
The head of the worldâs largest asset manager has provided a somewhat bullish take on the worldâs first cryptocurrency. According to a report by CNBC on Tuesday, CEO of BlackRock Larry Fink said bitcoin has âcaught the attentionâ of many people and that the cryptocurrency market was still relatively small compared to others. Speaking to the former Bank of England...
A team of anonymous developers is making what might be called a fork of a project that never launched. Readers of this post will likely see a strong earnings opportunity here, but please be careful. Basis Cash is based on the stablecoin Basis (originally known as Basecoin) that had $133 million in funding before U.S. securities regulators stepped in and...
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