Home Technology - Blockchain Bitcoin News Summary – August 20, 2018

Bitcoin News Summary – August 20, 2018

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Here’s what happened this week in in 99 seconds.

The popular mining company Bitmain is looking to IPO, forcing it to disclose its financial position. Surprisingly, Bitmain has over 1 million Bitcoin Cash while their Bitcoin holdings are at only 71,560. Analysts say that this outsize Bitcoin Cash position represents a liability for Bitmain.

The popular Square payment service announced the extension of Bitcoin trading over its Cash to all American states. Square had an estimated 7 million customers at the start of this year.

Americans may now invest in Bitcoin through exchange-traded notes known as Bitcoin Tracker One. These notes are now available for USD trading on the Nasdaq exchange and offer similar functionality as the much-awaited Bitcoin ETF.

A wealthy crypto investor is suing the AT&T phone company for giving a hacker ownership of his phone number, which led to the theft of $23 million in crypto from his exchange account.

GPU-maker Nvidia saw a 5% drop in its share price as its third-quarter earnings report showed less demand for its hardware among crypto miners. This is probably due to the falling altcoin prices which rely heavily on GPU mining.

And finally, a defendant in California accused of breaching a large gaming network, has been allowed by the US Federal Court to pay his bail fees, a total of $750,000, in the form of Bitcoin or any other kind of cryptocurrency.

That’s what happened this week in Bitcoin. See you next week.





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