Square Inc., a crypto-friendly mobile payments company, is planning to invest $5 million in a solar-powered Bitcoin (BTC) mining facility for Blockstream Mining, offering further insight into Jack Dorsey’s continued support for blockchain infrastructure. Chris Cook, Blockstream’s chief information officer, announced the collaborative partnership on Saturday, where he outlined plans to build the open-sourced mining facility at one of Blockstream’s United States operations. "Together, we plan to provide public transparency by sharing the project economics and knowledge we’ve gained from building a Bitcoin mine powered by renewable energy,” he said, adding: “Ultimately, we hope to demonstrate how bitcoin mining in …
Bitcoin (BTC) is down almost 30% in the last seven days, and this dip has triggered an almost commensurate plunge in the percentage of wallets in profit. Data from crypto data provider Glassnode shows that Bitcoin’s price drawdown has led to almost a quarter of unique on-chain entities being at a loss. This situation also bears some parallels to previous extreme downside price action periods that interrupted bullish advances. During the Black Thursday crash of March 2020, unique on-chain entities at a loss also approached the 25% mark as Bitcoin fell almost 50%. Further back, the 2019 rally from the …
Singaporean carpooling app Ryde announced the launch of its own cryptocurrency wallet which will facilitate Bitcoin (BTC) payments for its service. In an announcement shared with Cointelegraph on June 17, Ryde claims to be the first and only ride-hailing application to incorporate Bitcoin payments into its ecosystem. The firm’s customers will be able to use Bitcoin to pay their rides starting on June 22. Other cryptocurrencies will follow Ryde’s wallet, RydePay, will allow its users to convert Bitcoin into Ryde coins to top up their balance and pay for their rides. The conversion happens at market rates, with no fees …
A crypto payment infrastructure provider has revealed a new partnership worth millions of euros. Eligma says Bitcoin.com and Switzerland’s Pangea Blockchain Fund have contributed 4 million euros (about $4.4 million) to the continued global expansion of Elipay — infrastructure enabling merchants in brick-and-mortar stores to accept instant payments in a plethora of cryptocurrencies. The company says this makes it one of the few startups from the 2018 public crowdsale period to continuously demonstrate the utility of its token and products. The new round of investment will see Roger Ver, the founder of Bitcoin.com, become an Eligma board member, and a …
U.S. law enforcement consider so-called “SIM swapping” one of its “highest priorities” in a bid to fight cryptocurrency fraud, security news and investigation blog KrebsonSecurity reported Nov. 7. Speaking to the publication, Samy Tarazi, a police sergeant in Santa Barbara and a supervisor of the REACT Task Force — a group dedicated to fighting cybercrime — said the number of instances of the crime had increased dramatically. “For the amounts being stolen and the number of people being successful at taking it, the numbers are probably historic,” he said. SIM swapping refers to the act of remotely hijacking the SIM …