Business

Fast-food chain Burger King has partnered with Robinhood to give away free cryptocurrency to its customers — offering a compelling sign that appetites for digital assets are growing.  From Nov. 1 through Nov. 21, Burger King customers in the United States who spend $5 or more will be given free crypto, primarily in the form of Dogecoin (DOGE), the company announced Monday. A few lucky customers will have the opportunity to win a whole Bitcoin (BTC) or Ether (ETH). Users must register with Robinhood Crypto to receive the reward. To receive the reward, users must make their purchase on the BK app, website or in-store using a code at participating locations. The crypto rewards will be drawn from a total prize pool of 2 million DOGE, 20 BTC and 200 ETH. Customers can only claim one prize ...

Digital Currency Group (DCG), one of the largest companies in the cryptocurrency industry, has completed a major secondary investment round led by Japanese financial giant SoftBank. DCG has sold $700 million worth of shares to companies like Google’s parent company, Alphabet, to bring its valuation to more than $10 billion, the company officially announced Monday. “Proud to welcome SoftBank, CapitalG, Ribbit, GIC, Tribe and Emory to an already fantastic list of DCG shareholders. And even more proud of over 1,000 employees of DCG and our wholly-owned subsidiaries that made this happen,” DCG CEO and founder Barry Silbert said. In a Wall Street Journal interview, Silbert emphasized that the investment wasn’t about raising capital for DCG but rather an “opportunity for some for some early inve...

Bitcoin’s (BTC) biggest investors have been lately upping their reserves in sync with the ongoing price recovery, one Glassnode metric suggests. Dubbed as “Whale Supply Shock,” the on-chain indicator represents the ratio between the amount of Bitcoin held by “whales” and “fishes.” Whales represent addresses that hold between 10,000 BTC and 100,000 BTC, while fishes are those that hold anything between 0.001 BTC and 1,000 BTC. A rising Whale Supply Shock reading indicates a higher degree of accumulation by whales versus fishes. Conversely, a declining Whale Supply Shock shows fishes are accumulating Bitcoin at a faster pace than whales. BTC Whales Supply Shock versus price. Source: Glassnode That said, the Whale Supply Shock tends to provide “...

Major cryptocurrency exchange Binance announced the suspension of all transaction withdrawals on its platform on Monday morning due to a “large backlog” of data. CEO, Changpeng Zhao, assured all users that funds were safe, before the functionality was restored.  The platform shared this announcement on their official Twitter page via a thread, stating: We’re on it. Funds are SAFU. https://t.co/LbJbZsVhl0 — CZ Binance (@cz_binance) November 1, 2021 Following the initial stoppage, Binance informed users that withdrawal activity had been resumed, but reversed that action a mere 20 minutes later. The firm apologized to their global customer base for the inconvenience and shared that all further updates will be announced in the thread. In the tweet, which has received almost 4,5...

An average American taxpayer received three rounds of stimulus checks from the United States government as a means to reignite the economy by increasing consumers’ spending potential. For some, this meant an opportunity to invest in Bitcoin (BTC). A Cointelegraph report from Aug. 26 shows that 11% of the respondents between the ages of 18 to 34 reinvested a part of their stimulus checks into cryptocurrencies. Adult Americans that reinvested the first round of stimulus payments from April 2020 into Bitcoin have realized a net profit of roughly 442%, turning a $1,200 investment into $5,304 as of Oct. 31, 2021. The second stimulus check of $600 was distributed between December 2020 and January 2021, just two months before Bitcoin achieved an all-time high of $65,320 for the first time. If rei...

Two Bitcoin mining giants are duking it out for cheap electricity in the tiny town in Texas. Both Bitdeer, a mining firm that spun out from Chinese giant Bitmain, and Riot Blockchain, one of leading publicly traded Bitcoin mining firms in the United States, are operating data centers hosted at a former aluminium smelting facility in the Texan town of Rockdale. The town’s aluminium smelting plant was previously the world’s largest, until the company that ran it, Alcoa, began winding up operations in 2008. According to Lee Bratcher, president of the Texas Blockchain Council, the facility’s energy capacity was wasted from Alcoa’s departure until the miners set up shop. Despite Rockdale comprising a tiny rural town of just 5,600 people, it exhibits all the benefits sought after by industrial-s...

After launching via a Discord channel on Oct. 28, AnubisDAO went on to raise roughly 13,256.4 ETH using Alchemistcoin’s liquidity bootstrapping protocol (LBP) Copper. However, the funds were unexpectedly sent to a different address roughly 20 hours into the LBP. CNBC spoke to one investor who claims to have lost almost $470,000 to AnubisDAO. The investor, Brian Nguyen, conceded to subscribing to a “buy first, do research later mentality,” describing the loss as “pretty painful.” Nguyen noted that he was attracted to AnubisDAO because of its canine-themed branding amid the meteoric gains recently reaped by some dog-token investors after seeing Anubis promoted on Twitter by prominent pseudonymous DeFi advocate “0xSisyphus.” Anubis is the Greek name for the Egyptian god of death and the under...

Bitcoin (BTC) sees a volatile start to a new week and a new month after its first ever monthly close above $60,000 — what’s next? After a highly anticipated end to “Uptober,” bulls are looking to November to provide the next phase of what they hope — and sometimes promise — will be a BTC price surge like no other. The timing varies, and so do the predictions. In store for BTC/USD this month could be a monthly close of nearly $100,000 — but also a dip to near $50,000. With everything to play for and solid buyer support in the upper $50,000s holding, Cointelegraph takes a look at what could help shape Bitcoin price action in the coming week. October 2021 becomes best month since 2020 Regardless of what comes next, market participants are in a celebratory mood this week as Bitcoin sees the hi...