A live stream from a People’s Court in Beijing revealed that Bitmain recorded a loss of about $60 million in 2019, according to the firm’s lawyer. The court hearing was about a labor dispute between former Bitmain employee – Mao Zhengqing and three others – with Beijing Bitmain Technology. In the lawsuit, the former employeesContinue reading “Company lawyer says Bitmain suffered $60 million loss in 2019”

According to a new report, Coinbase has approached investment banking company, Goldman Sachs, to manage its IPO. Just yesterday Coinbase had said that it  had “confidentially submitted” a draft registration statement with the United States Securities and Exchange Commission. The crypto company expected the draft of the “Form S-1” to become effective after the SECContinue reading “Coinbase chooses Goldman Sachs to handle upcoming IPO”

In a recent interview, Mizuho Securities analyst, Dan Dolev said that nearly 20% of PayPal users have started trading Bitcoin using the payment giant’s latest services. The Japanese investment banking firm surveyed about 400 PayPal users and found that 50% of them reported increased engagement with PayPal’s new bitcoin services. According to this survey, bitcoinContinue reading “Mizuho Securities’ latest survey proves bitcoin is ‘a vehicle to boost engagement’ on PayPal”

United States Department of the Treasury’s Financial Crimes Enforcement Network (FINCEN) has posted two new job roles and expected to employ strategic policy officers for crypto. According to the posting, the job entails “sensitive and complex tasks” and:  Assignments related to virtual currency, cryptocurrency, and emerging technology-related including the issuance of advisories and other guidanceContinue reading “US Treasury wants crypto policy experts to fight crypto-related crimes”

Mark Cuban, American television personality and entrepreneur, still remains unimpressed by the current Bitcoin rally. In a recent interview, the billionaire entrepreneur believed that a banana had more utility than the cryptocurrency. He said: BTC is what it is, something that enough people have agreed upon is an investable asset. A banana has more utility,Continue reading “Mark Cuban not impressed with Bitcoin, prefers bananas!”

During this summer, reports surfaced stating that Coinbase had initiated plans for a stock market listing. Meaning, Coinbase could possibly be going public with its own IPO. However, for this to occur, the listing would need US Securities and Exchange Commission’s (SEC) approval. Reuters had reported that Coinbase could pursue the listing early next year,Continue reading “Coinbase ready to go public? Exchange files preliminary docs with US SEC”

NiceHash announced completion of its repayment program after almost three years. The firm repaid 4,640 Bitcoins to its users who were targeted in the 2017 hack. The firm had expected to complete reimbursement sooner; however, poor crypto markets made it difficult for the company to do so. The repayment now coincided with the current BitcoinContinue reading “4,640 bitcoins are again in our users’ accounts, says NiceHash CEO on hack reimbursement”

Bitcoin has been in the news lately as prices breached the $23,000-mark, a major psychological level. Coinbase CEO Brian Armstrong shared a message today about “crypto market rallies.”  While the CEO lauded the current rally and how news organizations covered the Bitcoin price surge, he believed that crypto was “a game-changing innovation.” Armstrong urged customersContinue reading “Coinbase CEO tells users to watch out during Bitcoin rally”

Trading app Robinhood has agreed to pay $65 million to settle charges from United States Securities Exchange Commission (SEC). The Federal agency accused the firm of “misleading customers” about its “revenue sources” between 2015 and 2018. The charge stated:  Material misrepresentations and omissions by Robinhood relating to its revenue sources, specifically its receipt of paymentsContinue reading “Robinhood agrees to settle US SEC charges for $65 million”

It looks like there’s no stopping Bitcoin, at least not today, after the world’s largest cryptocurrency breached the $21,000-mark within hours of breaching the $20,000-mark. At the time of writing, BTC was trading at a price of $21,274, having gained by 9.18% in the last 12 hours. The aforementioned developments came on the back ofContinue reading “Bitcoin surges past $21,000, hours after $20k-breach”

Coinbase, CEO and Co-Founder, Brian Armstrong announced in a blog today that the company will soon be adding longtime Silicon Valley executive Kelly Kramer to its board of directors. The CEO said that Kramer will primarily hold a role as Chairperson of the Coinbase’s Audit and Compliance Committee. Kelly Kramer joins the Coinbase Board ofContinue reading “Coinbase appoints former CFO of Cisco to its board”

Some users of two major crypto exchanges – Binance and Coinbase – reportedly experienced technical issues and were unable to log in to their accounts on the exchanges. Confirming the same, CEO of Binance ‘CZ’ took to Twitter to acknowledge the issues that surfaced in the past few hours:  https://twitter.com/cz_binance/status/1339220339520237569?s=20 However, Binance reassured its customersContinue reading “When Bitcoin breached $20,000, Binance and Coinbase experienced technical issues”