Square Buys 3,318 BTC, Nets $3.51 Billion

Today, Square (NASDAQ: SQ) reported its 2021 first quarter earnings. The company remained committed to holding bitcoin as an “instrument of global economic empowerment,” seeing tremendous gains from its $220 million in bitcoin purchases. “In February 2021, we invested $170 million in bitcoin as we believe cryptocurrencies are an instrument of economic empowerment, which aligns with the company’s purpose” per the earnings report. With this $170 million purchase, the company bought an additional 3,318 bitcoin at an average price of Read more …

Goldman Sachs Launches Bitcoin Derivatives Trading as ‘Institutional Demand Continues to Grow Significantly’ – Bitcoin News

Investment bank Goldman Sachs has reportedly begun offering a bitcoin investment product to clients. The firm has opened up trading with non-deliverable forwards, a bitcoin derivatives product. To hedge against the cryptocurrency’s volatility, Goldman Sachs will trade bitcoin futures on CME Group. Goldman Sachs Begins Offering Bitcoin Product to Clients Investment bank Goldman Sachs “has opened up trading with non-deliverable forwards, a derivative tied to bitcoin’s price that pays out in cash,” Bloomberg reported Thursday. The firm is protecting itself Read more …

IDEX’s ‘hybrid liquidity pool’ aims to tackle some of DeFi’s biggest problems

IDEX, a San Francisco-based decentralized exchange, has unveiled new protocol upgrades designed to solve two of the biggest issues with DeFi — slippage and front-running.  The exchange claims that its Hybrid Liquidity protocol solves these challenges by combining an order book and trading engine with the liquidity pools of an automated market maker, or AMM. “The novel exchange design protects users from the most glaring pitfalls of AMMs, including failed trades and front-running, by instantly executing trades against the best combination of Read more …

Pocketcoin (PKOIN) Decentralized Social Token Trading Competition Rewards Just Doubled on Bilaxy – Press release Bitcoin News

press release PRESS RELEASE. (Puerto Rico, USA – May 6, 2021) To celebrate its numerous recent successes, one of the world’s foremost decentralized social networks, Pocketnet.app, has launched a trading contest on its newest exchange, Bilaxy.com. Competition ends on May 13th, the rewards for active PKOIN traders on Bilaxy just doubled to total 20k PKOIN! PKOIN already gained over 960% since its recent start of trading on the Bilaxy exchange. What Is Pocketnet? Decentralized, Blockchain-Based Social Network Pocketnet – think Read more …

ConsenSys exec joins CoinFund to assist early-stage blockchain firms

Vanessa Grellet, a five-year veteran of Ethereum software company ConsenSys, will be joining crypto investment group CoinFund as its new head of portfolio growth. In an announcement from CoinFund today, the investment group said Grellet would be responsible for guiding its portfolio of more than 50 companies and projects. The new head of portfolio growth will be aiming to “bridge the gap between the worlds of traditional companies and decentralized networks” by forming alliances between blockchain projects and protocols. “My Read more …

Kraken Launches ADA Staking, $2 Next Price Target?

Cardano’s (ADA) price has awakened. With a 14.4% rally in the daily chart, after consolidation around the $1.30 to $1.40, ADA has reached a new all-time high and seems poised to keep smashing future resistance. ADA with bullish momentum in the daily chart. Source: ADAUSDT Tradingview Yesterday, Exchange platform Kraken launched staking for ADA with up to 4% and 6% rewards for those users that help secure Cardano’s network. To earn the rewards, users need to deposit funds in their Read more …

EOS price rallies 100% following a proposal to increase staking rewards

As the blockchain sector continues to evolve, occasional protocol updates are needed to ensure projects stay up to date with the latest developments and provide users wit the best user experience possible.  Since May 5, EOS price has rallied more than 100% following a recent protocol upgrade that increases the project’s inflation rate. EOS/USDT 4-hour chart. Source: TradingView Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $6.18 on May 5, the price of EOS Read more …

Nuvei eyeing $250M acquisition of crypto startup Simplex

Canadian payments giant Nuvei is reportedly in talks to acquire Simplex, an Israeli cryptocurrency startup, for up to $250 million – sending a strong signal that the electronic payments processing industry was pivoting towards digital currencies.  The deal between Nuvei and Simplex is expected to be finalized “in the next few days,” according to BlockBeats, a Beijing-based blockchain publication. The deal could be worth between $200 million and $250 million. Neither Nuvei nor Simplex have confirmed the sale at the Read more …

An Inconvenient Truth Of Bitcoin

A better society depends upon personal responsibility more than anything else. Without personal responsibility, we cannot expect anything other than what we’ve already got. Bitcoin is not a political manifesto. And it’s certainly not a self-help book. It’s a computer protocol designed to perform a specific function. But Bitcoin does offer commentary on our current situation, because it did not emerge within a vacuum. It emerged as a result of the global mess we currently find ourselves in. If all Read more …

Reports suggest Goldman Sachs is now offering Bitcoin derivatives

Investment banking giant Goldman Sachs has reportedly opened up futures trading on Bitcoin to Wall Street executives. According to Bloomberg Law, last month the investment firm began offering trading with non-deliverable forwards, a derivative tied to the price of Bitcoin (BTC) — roughly $56,000 at the time of publication — for which investors can get paid in fiat. Goldman Sachs reportedly lessens its risk to the crypto asset’s infamous volatility by buying and selling Bitcoin futures in block trades on Read more …

Crypto Analytics Firm Coin Metrics Raises $15 Million, Goldman Sachs Leads Funding Round – Finance Bitcoin News

On May 5, the cryptocurrency data and analytics provider Coin Metrics announced the firm has raised $15 million in Series B financing round. The funding was led by Goldman Sachs and a number of other venture firms, as digital currency data has become a hot commodity in recent times. Digital Currency Data and Analytics Firm Coin Metrics Raises $15 Million The Boston-based Coin Metrics has revealed the company has raised $15 million in a Series B financing round that was Read more …

BakerySwap, Syscoin and Utrust rally as altcoin season kicks into high gear

Bitcoin’s (BTC) institutional adoption shows no signs of slowing down. This week Latin America’s largest e-commerce company, Mercado Libre, disclosed that it had purchased $7.8 million worth of Bitcoin as part of its treasury strategy.  Mercado Libre was not only in this decision, as Metromile Inc., a Nasdaq-listed digital insurer also said it plans to buy $10 million worth of Bitcoin in the second quarter of this year. Additionally, Metromile will soon start accepting premiums and paying out insurance claims in Bitcoin. Read more …