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MoneyGram has yet to see any “negative impact” on its longstanding business arrangement with Ripple from the U.S. Securities and Exchange Commission (SEC)’s lawsuit against the latter company. “MoneyGram will continue to monitor the situation as it evolves,” a company spokesperson told CoinDesk in an emailed statement. “MoneyGram has continued to utilize its other traditional FX trading counterparties throughout the...
Cash App, the cash-transferal app of payments giant Square, is now allowing customers to get bitcoin back on every transaction. Previously, Cash App had only allowed clients to get U.S. currency back on transactions. In November, in the company's Q3 earnings report Square said Cash App generated $1.63 billion of bitcoin (BTC, +0.05%) revenue, up 11 times from the year-ago...
DeFi projects will form the foundation of the crypto economy in 2021 according to a report by DappRadar. DApp transaction volume has topped $270 billion so far in 2020, with 95% of this figure belonging to Ethereum’s DeFi ecosystem, according to DappRadar. That’s an astonishing 1178% increase from last year’s total of $21 billion. The blockchain data provider revealed the...
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 — purportedly 5,470 Bitcoin (BTC) given the...
London’s 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 Chartered’s 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 month’s 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 exchanges— 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 year’s bull run is said to...
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