A ‘Significant Increase’: UK Regulator Says 2.6 Million Residents Have Bought Cryptocurrencies

The UK’s top financial regulator has conducted a survey and found a “significant increase” in the number of crypto owners and awareness of cryptocurrencies. The regulator estimates that 2.6 million people in the country have bought cryptocurrencies, most of which were from non-UK cryptocurrency exchanges. UK Regulator’s Crypto Survey The Financial Conduct Authority (FCA), which regulates the financial services industry in the U.K., published a report entitled “Cryptoasset consumer research 2020” on Tuesday. This quantitative research follows the FCA report on cryptocurrency published in March last year but involves a…

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Alt-Right Activist Stefan Molyneux Banned from Youtube, Raises $100K in Crypto Donations

The founder of Freedomain, philosopher and alt-right activist, Stefan Molyneux, received more than $100,000 in cryptocurrency donations after he was banned from Youtube on June 29, 2020. Stefan Molyneux is well known for his Youtube videos, podcasts, and books. His early Youtube videos describing the benefits of bitcoin have been lauded. While getting over $100k in bitcoin, dash, bitcoin cash, and ethereum donations this week, the alt-right activist has also joined the Lbry platform. On June 29, Molyneux was banned from Youtube. Molyneux joins a number of popular alt-right activists,…

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Tether’s Market Valuation Grows 144% in 2020, USDT Market Cap Worth $10 Billion

The most popular stablecoin, Tether, has propelled its way into the third-largest position by cryptocurrency market capitalization. At the time of publication, a number of market valuation aggregators show that Tether’s market cap is between $9.1 to $10.1 billion. Tether (USDT) is a well known stablecoin token issued by the company Tether Limited. The company claims each token is backed by a single U.S. dollar, but during the last few years, the firm admitted the backing included loans as well. USDT has always been controversial, but even with the contention,…

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Bitcoin Investors Pocketed 42% in Gains During the Second Quarter of 2020

The second quarter of 2020 was very profitable for bitcoin investors, according to data analytics firm Skew. During the period, the top cryptocurrency climbed 42%, its fourth-best quarterly close since 2014. For the March quarter, the digital asset fell 10.6%, dragged by the massive Black Thursday crash. As a matter of fact, bitcoin declined in three successive quarters before Q2 2020. In terms of price, bitcoin (BTC) soared from around $6,420 at the beginning of April to more than $9,140 at the end of June, Skew figures show. The coin…

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Brewdog Tokyo Accepts Bitcoin Cash Payments: Local BCH Meetup Gathers to Celebrate

On July 1, 2020, the popular eatery and bar in Japan, Brewdog Tokyo, started accepting bitcoin cash payments for products and services. The establishment is the third Brewdog bar to accept bitcoin cash, as the cryptocurrency is accepted at the London and Budapest locations as well. In order to celebrate Brewdog Tokyo supporting bitcoin cash, a number of Tokyo-based BCH Meetup members gathered at the bar on Wednesday to socialize and purchase refreshments. The meetup was the first in-person BCH Meetup in Tokyo since the start of Covid-19. The Roppongi…

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Gold Industry Shaken as 83 Tons of Fake Gold Bars Used to Secure $2 Billion Loans in China

The gold industry has been shaken after it was discovered that 83 tons of fake gold bars have been used as collateral for loans worth 20 billion yuan from 14 financial institutions to a major gold jewelry manufacturer in Wuhan, China. This amount of gold “would be equivalent to 22% of China’s annual gold production and 4.2% of the state gold reserve as of 2019.” Using 83 Tons of Fake Gold to Get Loans One of China’s largest gold jewelry manufacturers, Kingold Jewelry Inc., has been using fake gold to…

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Bitcoin Miner Hut 8 to Add 275 PH/s of Mining Capacity With $8.3M Capital Raise

Hut 8 Mining Corp. has raised $8.3 million from the sale of 6% of its shares to investors. The Canadian bitcoin miner originally intended to raise $7.5 million from the sale, but it was oversubscribed. Totonto Stock Exchange-listed Hut 8 issued about 5.8 million “units” at a price of $1.45 each. Each unit is comprised of one common share. From this, investors have the option to buy another share for $1.80 between now and December 2021. The Alberta-based miner said funds from the offering will be used to upgrade its…

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Bitcoin’s 5% Drop in Value Puts Pressure on BTC Mining Operations and Older ASIC Rigs

During the last seven days, the price of bitcoin has dropped 4.8% from a high of $9,700 on June 24, to a low of $8,965 on June 27. Since then the price has increased and the price per bitcoin is back above the $9k zone but much lower than before. The lower price has affected the profits of miners hashing away to find blocks on the network. Ever since they lost 50% of the block reward on May 11, gathering profits have been tough on miners with bitcoin prices at…

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Bamboozled: Gavin Andresen Says He Could Have Been Fooled by Craig Wright, BSV Supporters Speak Out

This week a number of Kleiman v. Wright lawsuit depositions have recently published and are now available for public viewing. One specific deposition with the former Bitcoin Core lead maintainer, Gavin Andresen, casts doubt on the claim that Wright is Satoshi Nakamoto. Moreover, the Bitcoinsv supporter Daniel Krawisz has been speaking out about Wright and mentions there is “plagiarism in several of Craig Wright’s works.” For well over five years now, Craig Steven Wright, has publicly claimed that he invented Bitcoin and that he is Satoshi Nakamoto. This claim has…

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Record Breaking Unmoved Bitcoin Data Sparks Expectation of Imminent Bull Run

The amount of bitcoin that has not moved in over a year is at an all-time high. The last peak was in 2016, before the bitcoin bull run that saw the price spike to $20K. Several forecasting models have predicted that the price of bitcoin will reach $20K this year and the next bull run could start as soon as next month. Data Resembles Previous Bitcoin’s Bull Run The amount of bitcoin that has not moved in over a year is at 61.59% of the entire supply on Monday, an…

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