Jack Dorsey’s payments company Square Inc. revealed in its Q3 earnings report that mobile payments app Cash App saw a 23% drop in quarterly profits generated by Bitcoin. But Bitcoin profits and revenue are both up year on year. Square attributes the drop off in quarter-on-quarter Bitcoin revenue and gross profit to the “relative stability of the price of Bitcoin, which affected trading activity compared to prior quarters.” Cash App allows users in the United States and the UK to buy Bitcoin and transfer money and BTC peer to peer. According to AppBrain it currently ranks second in finance app …

Back in September, Twitter became the first major social media platform to adopt Bitcoin (BTC) tipping, enabling users to send BTC directly to their favorite content creators through the site’s native frontend. The company also allowed users to send their BTC over the Bitcoin Lightning Network to ensure near-instant settlement times. In response to an analyst's question regarding how cryptocurrencies play into the company's overall global strategy, Dorsey said the following during the company’s third-quarter earnings call on Oct. 26: “It [Bitcoin tipping] allows for much more speed. Both tipping subscriptions are new. These are products that we want to …

American financial service provider Square will soon begin investigating technical requirements for building an open-source Bitcoin (BTC) mining system, according to CEO Jack Dorsey. Dorsey shared a series of tweets explaining his intent to follow a collaborative approach in further decentralizing Bitcoin mining. He said: “Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide. The more decentralized this is, the more resilient the Bitcoin network becomes.” Dorsey believes that further decentralizing the Bitcoin network will be critical for securely settling the transactions “well after the last bitcoin is mined.” …

Artists have been amongst the first to take advantage of leveraging their art online through NFTs, also known as nonfungible tokens. The spectacular Beeple sale of his Everydays: the First 500 Days for $69 million made headlines across the world, quickly followed by huge sales by digital artist Pak, Warhol and even a Jack Dorsey Tweet – okay, it was his first tweet. It wasn’t just artists that crowded online; musicians could see how they might recuperate significantly better fees than are currently offered by Spotify. Kings of Leon launched their eighth album on the blockchain offering a hybrid of …

Facebook’s conglomerate of social applications, including Instagram, WhatsApp, Messenger, and its virtual reality headset Oculus, all suffered a major power outage on Monday, switching the platforms offline for a total of six hours to the effect of billions of users and businesses across the world. The incident was first reported at approximately 3:16 pm UTC on Monday when a surge of complaints emerged from users worldwide claiming that they were unable to access their favorite social networking platforms. A Cloudflare post-analysis of the crisis concluded that Facebook “had stopped announcing the routes to their DNS prefixes,” which meant that the …

Amid all the recent price volatility seen by Bitcoin (BTC) and the rest of the crypto market, news of social media behemoth Twitter reportedly getting ready to enable Bitcoin tipping for content creators went relatively unnoticed. Reports suggest that the latest Twitter iOS beta is being devised in a way that will help BTC become part of the company’s upcoming Tip Jar module. If implemented, the move could have a substantial impact on the global crypto landscape, as it might instill the confidence necessary for other companies operating within the social media space to follow suit. Merrick Theobald, vice president …

Twitter appears to be developing functionality that enables users to add Bitcoin and Ethereum addresses to their profiles. The latest update is believed to be a part of Twitter’s Tip Jar feature, which was introduced in May this year, and adds to reports, which surfaced earlier this week, that the firm would enable Bitcoin (BTC) tipping for content creators. Italian mobile developer and self-described “leaker” Alessandro Paluzzi tweeted screenshots on Thursday that showed BTC and Ether (ETH) wallet address options in the settings toolbar of the app version of Twitter. #Twitter is working to allow you to add your #Bitcoin …

Twitter is reportedly laying the groundwork to enable Bitcoin (BTC) tipping for content creators. According to MacRumors, the latest Twitter iOS beta includes lines of code that could see Bitcoin become a part of the “Tip Jar.” Indeed, as previously reported by Cointelegraph, Twitter CEO Jack Dorsey had previously hinted that Bitcoin tipping was in the works. Twitter introduced Tip Jar back in May as a way for users to reward content creators on the popular social media platform. If the reports of Bitcoin tipping are true, then BTC will be added alongside Cash App, PayPal and Venmo as acceptable …

Square CEO Jack Dorsey said that the platform’s latest Bitcoin (BTC) venture would be to develop a decentralized exchange. In a Friday tweet, Dorsey said that "TBD" — either referring to the fact the business’ name has yet to be determined or simply the name itself — would be focused on building a decentralized exchange for Bitcoin. According to project leader Mike Brock, TBD, a unit of Square, aims to “make it easy to fund a non-custodial wallet anywhere in the world through a platform to build on- and off-ramps into Bitcoin.” The business said it wants the decentralized exchange …

Jay Graber, a former software engineer for Zcash and blockchain firm Skuchain, will be leading the anticipated decentralized social media initiative first announced by Twitter in 2019. In a Twitter announcement on Monday, Graber said that they would be in charge of the Bluesky project after working closely with “a group of thinkers and builders” from the decentralized social ecosystem. They plan on hiring for the Bluesky team and “partnering closely with Twitter and other companies” as part of the next steps towards fulfilling the decentralized social media plan. I’m excited to announce that I’ll be leading @bluesky, an initiative …

Twitter CEO and self-professed Bitcoin (BTC) maximalist Jack Dorsey is not giving Ether (ETH) fans an inch. In his latest offhand remark about the market’s second-largest cryptocurrency, Dorsey downplayed the platform’s potential to single-handedly shake up the status quo in Big Tech: Disrupting “Big Tech” is exactly what’s needed and what I want. No one technology alone will do that though. — jack⚡️ (@jack) August 12, 2021 Dorsey’s comment followed an online discussion of the usefulness of a full-blown integration of nonfungible tokens (NFT) into Twitter, which Twitter user Seyitaylor argued would be more to the benefit of Ethereum than …

Morgan Creek Digital co-founder and Bitcoin (BTC) proponent Anthony Pompliano thinks Square’s value could increase to $1 trillion following the firm’s acquisition of Afterpay. Square, headed up by Twitter CEO Jack Dorsey, this week announced its acquisition of the Australian buy now pay later (BNPL) business for $29 billion on the same day it reported $2.7 billion in Q2 revenue from Bitcoin sales on its Cash App. Pompliano analyzed the move on his The Best Business Show on Aug. 4, which was posted on his personal YouTube channel under the rather clickbaity heading “Square is going to be worth $1 …