• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Crypto Tidbits: ‘Spedn’ Bitcoin At Whole Foods, Cryptocurrency Cynic Flips Bullish, And Bakkt Looms

Nick Chong by Nick Chong
2 years ago
in Cryptocurrency news
Reading Time: 6min read
crypto

crypto

Advertisement
Listen to Article

Another week, another round of Crypto Tidbits. Over the past week, Bitcoin (BTC) has traded in a crazy range, moving between $6,000 and $8,350 in a fashion that seems very reminiscent of 2017. This came as a slew of positive news graced the cryptocurrency and blockchain market.

Throughout the past seven days, a startup was revealed to be bringing crypto asset adoption mainstream, Facebook moved one step closer to launching its own blockchain-friendly network, and the financialization of the industry continues to occur.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!
Related Reading: Crypto Tidbits: Binance Bitcoin Hack, Buffett Hates Cryptocurrency, Ethereum Futures Inbound

Crypto Tidbits

  • Facebook Crypto On The Horizon, Company Opens Blockchain Firm In Switzerland: Quietly discovered by Reuters on Friday, technology giant Facebook has recently established a new company in Switzerland. The new firm is purportedly centered around blockchain and payments, likely pertaining to the company’s rumored “Libra” project. This has only been corroborated by the fact that the new company is registered as “Libra Networks”, and was registered weeks ago to “provide financial and technology services and develop related hardware and software”. Just last week, we reported that Libra was revealed to be a cryptocurrency payments ecosystem meant to curb fees, and that Facebook was staffing up (22 roles open on its career portal) for that division. And after that news broke, Facebook was revealed to have begun to roll back its ban against crypto- and blockchain-related advertisement content.
  • Bitstamp Selloff Results In Bitcoin Plunge To $6,100: On Friday, Bitcoin slipped from $7,800 to $6,100 on Bitstamp. Evidence is mounting that a single actor, or group of entities, catalyzed this move with mere clicks of their mouses. As recently noted by Adamant Capital’s Tuur Demeester, the rapid collapse was led by serious sell orders on Bitstamp. Some have suggested that this was in a bid to manipulate the value of the BitMEX’s perpetual swap for Bitcoin, specifically in an attempt to liquidate the millions of dollars of shorts racking up over recent days and weeks. As Three Arrows Capital’s Su Zhu suggests, someone tried to exploit BitMEX’s mark price by placing a large sell order on Bitstamp, which the former exchange draws data from to determine its index. Order book history seemingly corroborates this theory, as an entity placed a massive 2,000 BTC sell order at $6,500 on Bitstamp, seemingly in a bid to depress the price for a short period of time.
  • Coinbase May Soon Acquire Xapo’s Bitcoin Custodian: In an impeccable sign of the times, sources tell The Block that Coinbase may soon acquire Xapo, one of the first and most startups in the cryptocurrency space. The San Francisco-based cryptocurrency giant is “in advanced talks” to purchase Xapo, a Zurich-headquartered custodian that purportedly owns at least 5% of all BTC in circulation. Sources, who are “people familiar with the matter”, tell the outlet that Coinbase has an offer of $50 million and added contingent “earn-outs” on the table, but that Xapo has yet to shake on the proposed deal. They add that Coinbase and Fidelity’s resident crypto division, Digital Assets, have been duking it out over this deal, which is massive in and of itself. So far, as hinted at, Coinbase has the lead and was quicker on the draw, as the budding startup looks to bolster its embryonic custody business in a renewed drive to appeal to institutional players.
  • Coinbase Sees Massive Custody Interest: In a similar string of news, Brian Armstrong, the technologist-turned-chief executive of Coinbase, revealed that his firm’s custodian crossed $1 billion worth of assets under management (AUM) this week, which was sourced from 70 institutions. Armstrong adds that this sum continues to grow by $150 million, signaling immense interest from the non-retail audience. And in a Q&A session held on Wednesday night, the entrepreneur noted that Coinbase Pro’s volume is now 60% institutional.
  • Cryptocurrency Cynic Flips Bullish, Acknowledges BTC’s Value: During a recent Bloomberg podcast, which Forbes cited, Mark Mobius, the 80-something-year-old founder of Mobius Capital Partners, divulged some things that some would have never expected him to say. Mobius, who once dubbed Bitcoin a “real fraud” in a Jamie Dimon-esque fashion, stated that BTC is likely to be “alive and well”, uh, well into the future. The investor, deemed “legendary” and “veteran”, by his peers, then added that he knows there is a need, even a desire for global individuals to have a way to transact and transfer value “easily and confidentially”.
  • U.S. SEC Delays Bitwise Bitcoin ETF: According to a report from CoinDesk, the verdict on the Bitcoin (BTC) exchange-traded fund (ETF) application from California-based crypto upstart Bitwise Asset Management has been delayed once again. In a document published Tuesday morning, the U.S. Securities and Exchange Commission (SEC), who presides over such products, revealed that it won’t be issuing a final verdict (approve or deny) just yet. Interestingly, the regulatory entity has yet to comment on the proposal from VanEck and SolidX, which many investors believe has a higher chance of succeeding. The deadline for that proposal is coming up.
  • Samsung’s Budget Smartphone May Soon Integrate Blockchain: In a comment given to Business Korea, a local English outlet, a managing director of Samsung’s Wireless Business Division, Chae Won-Cheol, explained that his team will “lower barriers to new experiences by expanding the number of Galaxy models that support blockchain functions”. Won-Cheol adds that Samsung will “expand [its] service target countries” after launching blockchain-related features in Korea, the United States, and Canada, the seeming testbeds for this roster of products. This comes after the Galaxy S10 — Samsung’s latest flagship smartphone — was revealed to have a native digital asset offering in the form of a cryptocurrency wallet.
  • HTC Looks To Bring Blockchain Mainstream: Announced Saturday at New York’s Magical Crypto Conference, hosted by Litecoin’s Charlie Lee, Samson Mow of Blockstream, Whale Panda, and Riccardo Spagni, the HTC EXODUS 1s is expected to be a more “value-oriented” version of its predecessor. The Taiwan tech giant estimates it will cost around $200 to $300, about one-third the price of popular handhelds today. The EXODUS 1s, slated to be released by Q3 of 2019, will purportedly be the first consumer-facing smartphone to have full node capabilities, giving its users the opportunity to download the full Bitcoin blockchain to their phone, disvaluing third-party nodes that can be manipulated and improving privacy.
  • Bakkt Looks To Launch Bitcoin Futures By July: Revealed Monday, Bakkt, the Intercontinental Exchange’s independent crypto initiative, will be launching its physically-backed futures contract in July. According to a Medium update from its chief executive, Kelly Loeffler, the product will take two forms: 1) a daily settlement future; 2) monthly futures. This confirms rumors that the platform was looking to launch a vehicle for a same-day market. Bakkt expects the soft launch of this product by July, explaining that it intends to iron out any kinks in the coming weeks.
  • Startup To Allow Consumers To “SPEDN” Bitcoin At Whole Foods, Gamestop, More: Announced Monday in a Medium post, Flexa, a little-known startup looking to make “cryptocurrency spendable everywhere”, will be making Bitcoin, Bitcoin Cash, Ethereum, and Gemini’s in-house stablecoin available to spend in 30,476 retail outlets. Chains accepted the aforementioned digital assets include Crate & Barrel, GameStop, Lowe’s, Nordstrom, and arguably most importantly, the Amazon-owned Whole Foods. It has been reported that the aforementioned chains have agreed to participate in the Flexa ecosystem, implying partnerships. To accomplish this, Flexa has launched an app it calls “SPEDN” (a play on Bitcoin community not so inside joke “HODL”). This app, currently only available for Apple devices, allows users to deposit cryptocurrency into Gemini-run wallets, then use their phones in physical stores as a way to purchase goods as normal.
Featured Image from Shutterstock
Tags: bitcoincryptoindustrymarket
TweetShare74
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Finlaw Associates to Submit Draft Cryptocurrency Regulation to Indian Govt as Community Demands for Clarity, Mr. Mishra Explains

Finlaw Associates to Submit Draft Cryptocurrency Regulation to Indian Govt as Community Demands for Clarity, Mr. Mishra Explains

10 hours ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin En Route to $30,000 After Price Falls ~12% in a Day; Here’s Why

1 day ago
Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

1 day ago
btcu

The Brilliant Minds Behind the BTC Ultimatum Project, and Their New CEO, Eric Ma

2 days ago
Can Blockchain Help Enterprises Navigate GDPR Headaches?

Can Blockchain Help Enterprises Navigate GDPR Headaches?

2 days ago
altcoins bitcoin crypto alt season altcoin xrp ethereum ripple litecoin

Centralized Wealth: The Downside To Institutional Bitcoin Buying

3 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

LABS Group Announced Strategic Partnership with Centifuge to Provide DeFi Collateralized Property Backed Lending

January 22, 2021

Jump-starting Crypto Adoption: Aurix IEO Scheduled for January 21st on ExMarkets!

January 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.