Grayscale Investments Scooped Up Over 17,000 BTC in the Last Seven Days

Grayscale Investments Scooped Up Over 17,000 BTC in the Last Seven Days

During the last seven days, Grayscale Investments purchased 17,100 BTC or $182 million worth of bitcoin using today’s exchange rates. The company’s bitcoin position is now close to 450,000 BTC worth roughly $4.7 billion. The Grayscale Bitcoin Trust (GBTC) is a very popular investment vehicle and in 2020 the trust has obtained a massive amount of BTC. Today, GBTC has $4.7 billion assets under management (AUM), according to data provided by bybt.com. Grayscale’s bitcoin position…

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Novogratz: Dangerous Time to Be in Stocks, Bitcoin Has More Upside Than Gold

Novogratz: Dangerous Time to Be in Stocks, Bitcoin Has More Upside Than Gold

Galaxy Digital CEO Michael Novogratz explains why it is a dangerous time to be in the stock market right now, leading up to the U.S. presidential election. While bearish on the dollar, Novogratz is bullish on bitcoin and gold but thinks that bitcoin has more upside than gold. Dangerous Time to Be in Stock Market, Buy Bitcoin Billionaire investor and Galaxy Digital CEO Michael Novogratz explained his view on the best investments as the November…

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$2.4 Trillion Stimulus Package Proposed in US With Second Direct Payments to Americans

$2.4 Trillion Stimulus Package Proposed in US With Second Direct Payments to Americans

A new stimulus package costing about $2.4 trillion is being prepared in the U.S. that includes a second round of stimulus checks for Americans. Since the first coronavirus stimulus package was signed into law, talks of further relief aid have stalled. This new proposal aims to restart the stimulus package discussion. Nancy Pelosi Plans to Introduce a $2.4 Trillion Stimulus Package House Democrats are reportedly putting together a new coronavirus stimulus plan, which would cost…

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Kucoin Hacker Leverages Uniswap to Dump Vast Number of ERC20 Tokens

Kucoin Hacker Leverages Uniswap to Dump Vast Number of ERC20 Tokens

Since the recent Kucoin hack, the crypto community has been waiting for the hacker to move funds. During the early morning hours (ET) on Sunday, a number of people noticed the Kucoin hacker started to move a large amount of ether and ERC20s to connect with the decentralized exchange (dex) Uniswap. The cryptocurrency exchange Kucoin was hacked on September 25, 2020, and early estimates said the trading platform lost around $150 million. On Sunday, the…

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Crypto-Fueled Market Openbazaar to Close Shop Unless OB1 Raises Community Funding

Crypto-Fueled Market Openbazaar to Close Shop Unless OB1 Raises Community Funding

On September 25, the creators of the decentralized marketplace, Openbazaar, announced that unless the project can gather community funding, the supporting services like seed nodes and the API wallet will shut down. The firm behind the project, OB1 is also removing the Haven app from the iOS App Store and Google Play on October 1. The open-source decentralized marketplace project Openbazaar started from an idea first conceived at the Bitcoin Hackathon in Toronto in April…

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Cryptojacking: A Rising Threat to All Internet Users

Cryptojacking: A Rising Threat to All Internet Users

The cryptocurrency revolution steadily marches on. While it has yet to completely reshape the financial and other systems of everyday life, crypto acquisition and usage grow yearly. There is so much to love about cryptocurrency. From its decentralized and democratic nature to the higher levels of security it can provide through the blockchain, crypto is changing the world around us. Unfortunately, as with so many other digital world areas, hackers have found a way to…

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Tether’s Stablecoin Dominance Drops Below 80% as Audit Controversy Lingers On

Tether’s Stablecoin Dominance Drops Below 80% as Audit Controversy Lingers On

The total volume of stablecoins in circulation is closing in on the $20 billion mark, while the market-leading coin, USDT’s share of the total circulating supply continues to shrink, data from Coinmetrics shows. According to the data, USDT now accounts for an estimated at 80% of total supply, and the majority of the coins are now issued on the Ethereum and Tron networks. Out of the total supply, the USDT-ETH accounted for approximately 53% while…

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Chinese Mining Rig Manufacturer Microbt Announces Offshore ASIC Factory

Chinese Mining Rig Manufacturer Microbt Announces Offshore ASIC Factory

On Friday, China-based bitcoin mining rig manufacturer Microbt announced plans to create an offshore facility that produces the company’s Whatsminer devices and parts for North America. The firm revealed the expansion news when it announced a recent partnership with the New York-based Foundry Digital LLC. Microbt’s Whatsminer mining rigs have become popular during the last few years and the company has been able to obtain a large portion of mining device sales. On September 25,…

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