Grayscale Bitcoin Trust Buys Over 1.5 Times Total BTC Mined Since Halving

Grayscale Investments has purchased more than 1.5 times the number of bitcoins mined since the third Bitcoin halving for its bitcoin trust. This indicates that there is a strong institutional demand for the cryptocurrency, which is expected to grow significantly post the coronavirus crisis. GBTC Buys 1.5 Times the Amount of Bitcoin Mined After Halving Grayscale Bitcoin Trust (GBTC) has been racking up the number of BTC it has purchased since the third Bitcoin halving. Between May 12 and May 18, the week following the halving, Grayscale Bitcoin Trust acquired…

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JPMorgan to Pay $2.5 Million to Settle Lawsuit for Overcharging Crypto Fees

JPMorgan Chase has reportedly agreed to pay $2.5 million to settle a crypto class-action lawsuit. Originally filed in 2018, the suit alleges that the bank overcharged customers for buying cryptocurrencies using Chase credit cards, classifying the purchases as cash advances. JPMorgan Settles a Crypto Class Action Lawsuit JPMorgan Chase allegedly overcharged its customers who bought cryptocurrencies with their Chase credit cards. The bank decided to treat the purchases as “cash advances,” which carry higher fees than normal purchases. A class-action lawsuit was filed in 2018 and was settled out of…

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The Many Facts Pointing to Adam Back Being Satoshi

During the last year, news.Bitcoin.com created a series that shows the many facts that point to certain individuals who might just be Satoshi Nakamoto and it’s been a popular run so far. Our series has covered nearly everyone, but there are still a few individuals that haven’t been covered. On May 11, 2020, the popular Youtube channel “Barely Social” published a video called “Unmasking Satoshi Nakamoto,” which claims that Blockstream CEO Adam Back could be Bitcoin’s mysterious inventor. New Video Points to Adam Back Being Bitcoin’s Inventor In mid-May, the…

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Grayscale: Central Bank Digital Currencies Will ‘Neither Replace nor Harm Scarce, Uncompromising Bitcoin’

Central bank digital currencies (CBDCs) pose no threat to Bitcoin’s value proposition, instead, they will spur its growth toward mass adoption. In a new report, Grayscale Investments said CBDCs will never replace BTC because unlike the top cryptocurrency, they can be inflationary and are open to manipulation by central banks CBDCs are merely digital versions of fiat currencies, which cannot escape government control, it said, adding that government-backed cryptocurrencies simply maintain the status quo. State control is anathema to bitcoin, an asset created to challenge the conventional financial system and…

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Cryptocurrencies Spread 4X Faster in Undeveloped Countries: Blockchain Analysis Report

During the month of April, the blockchain project Onfo initiated an experiment to see how fast crypto assets can gain popularity in four different countries. The team’s findings discovered that cryptocurrencies spread four times faster in developing nations as opposed to developed countries. Crypto Asset Network Effect Grows Stronger in Undeveloped Countries Last month, the blockchain team from the project Onfo, decided to run a social mining experiment in a number of different countries to see how crypto assets gain recognition and popularity. The researchers chose four different countries which…

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OKCoin Grants $100,000 to BTCPay Server Toward Its Open-Source Development

Today, San Francisco-based cryptocurrency exchange OKCoin announced a $100,000 donation to open-source bitcoin payment processor project BTCPay Server. The funding comes as part of the OKCoin Independent Developer Grant, which was launched last year. BTCPay Server’s product is free to use and its dependent on such contributions to continue operations. “Supporting infrastructure projects is key to our mission at OKCoin [and] we believe that the most impactful way to do this is by backing independent open-source developers; the ground troops and projects dedicated to creating and improving the core infrastructure…

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