Business

Coinbase performed excellently in the second quarter of the year, and it is gaining more investment from corporate entities Leading chip manufacturer Intel has reportedly acquired shares in Coinbase, one of the top cryptocurrency exchanges in the world. The acquisition follows a strong performance from the crypto exchange in the second quarter of 2021. According to a report by Barron’s, Intel disclosed on Friday that it currently holds 3,014 shares of Coinbase (COIN) as of the end of June. The report added that the shares were acquired in the second quarter of the year since Intel didn’t disclose COIN as part of its holdings in the first quarter. However, there is the possibility that Intel acquired the shares much earlier. Barron’s wrote, “It is possible that Intel invested in...

Bitcoin (BTC) is facing a stiff challenge from the bears near the $48,000 mark. As Cointelegraph reported earlier, the buy and sell levels show that sellers on Binance have held their ground at $48,000. PlanB, the creator of the stock-to-flow Bitcoin price model, said if Bitcoin manages to close August above $47,000, the year-end “worst-case scenario” target price of $135,000 may come into play. Despite the slight downturn, the institutional adoption of Bitcoin continues to increase. Filings with the United States Securities and Exchange Commission show that four wealth management firms have bought shares in Grayscale’s Bitcoin Investment Trust. Crypto market data daily view. Source: Coin360 A survey of about 42,000 people in 27 countries by product comparison website Finder, s...

The United States Treasury Department is reportedly seeking to clarify the definition of brokers in the bipartisan infrastructure bill passed by the Senate last week, offering cautious reassurance that the new legislation won’t impact innovation and growth in the blockchain industry.  As reported by Bloomberg, the Treasury Department is preparing guidance on what types of crypto companies will be required to comply with new IRS reporting requirements. The report indicated that the definition of “broker” could be narrowed from what many fear would include protocol developers and wallet providers that currently operate in the cryptocurrency industry. A Treasury official reportedly told Bloomberg that developers, miners and wallet providers won’t be subjected to the new reporting require...

As the blockchain industry expands and becomes more of a fixture in everyday life, the idea of ‘one chain to rule them all’ and the general ideology of blockchain maximalism is beginning to fall to the wayside and the focus on interoperability and cross-chain collaboration is coming to the forefront. One project that is specifically designed to help advance the ecosystem as a whole and develop the future of the open internet is Gitcoin (GTC), a community of builders, creators and protocols. Data from Cointelegraph Markets Pro and TradingView shows that the price of GTC has swelled 103% from a low of $4.78 on July 20 to a high at $9.71 on Aug. 11 as new participants aligned with the project and its goal of advancing the Web3 infrastructure. GTC/USDT 4-hour chart. Source: TradingView T...

Crypto criminals are getting more adaptive and smarter than ever before. But how can industry service providers keep up with them? If I say that the crypto industry is highly targeted by cybercriminals and, in particular, organized criminals, I’m sure that no one who has spent a few months within the space would be surprised. And for a valid reason. Due to the new technology and the nascent nature of the sector, criminals and fraudsters have long identified the excellent opportunity that crypto offers to profit via illicit methods. Indeed, any “new” approach to the financial sector is welcomed by the criminal fraternity as an opportunity to launder funds and find new victims. While the situation has improved significantly since the early days of digital assets, political and financial indu...

Bitcoin (BTC) rewards company GoSats has launched a new cashback rewards card for customers in India, potentially setting the stage for wider mainstream adoption of digital assets in the world’s second-most populous country.  The new product is being introduced in partnership with the National Payments Corporation of India, also known as NPCI, which is a not-for-profit organisation dedicated to promoting digital payments and settlement systems across the country. The organization was founded in December 2008 and is under the direct ownership of the Reserve Bank of India. The GoSats rewards card, which is accessible through mobile app and browser extension, allows users to earn cashback paid in BTC while shopping at major brands such as Amazon, Starbucks and Flipkart. The NPCI partners...

The blockchain industry market size was estimated by some to reach more than $21 billion by 2025. The market capitalization of the cryptocurrency market as a whole already reaches over $1.9 trillion. An ecosystem that was once defined by its tight-knit community and exclusivity now reaches governments, businesses, institutional investors and individuals who are all becoming more positive about the evolving space. With this new popularity, a crossroads has emerged. We have reached the stage of adoption where the amount of users utilizing decentralized technology has exceeded the functionality of the technology itself. This has resulted in regularly congested networks and a demand for solutions. Many of the roadblocks we are experiencing could easily be solved with scaling solutions such as ...