Skip to main content

Blockchain Bites: Buterin’s Stake, Google’s Bitcoin Searches, Square’s Bustling BTC Business

 



Cash App generated over $1 billion in bitcoin revenues for Square in Q3. Vitalik Buterin sent 3,200 ETH to Ethereum 2.0’s deposit contract. Google search data shows little “FOMO” amid the current market bull run.

Top shelf

Monster quarter
Cash App, the mobile payment service of Square (helmed by Twitter CEO Jack Dorsey), generated $1.63 billion in bitcoin revenue and $32 million in bitcoin (BTC, -0.91%) gross profit for Square during the third quarter of 2020, according to the company’s Q3 investor letter. This is 11 times more in bitcoin revenue than Q2’s $875 million, when Square profited $17 million from selling bitcoin. Still, Square’s bitcoin business has relatively tame profits for a money services business, with profit margins shy of 2%. In an earnings call, Dorsey said, “We believe [bitcoin] will be the native currency of the internet, and help people thrive around the world and the economy.”

Buterin’s stake
Ethereum founder Vitalik Buterin has sent 3,200 ether, worth around $1.4 million, to Ethereum 2.0’s newly launched deposit contract. Ethereum 2.0 is making progress on its transition to proof-of-stake, which will progress to the next phase of readiness once 524,288 ether are staked in the contract. The deposit contract now holds 38,693 ether, worth some $17 million. Industry publication TrustedNodes reports that Buterin’s “VB2” address sent 100 transactions in total.

Source: coindesk.com




Comments

Contact us

Name

Email *

Message *

Popular posts from this blog

Cryptocurrencies Adding to the Safety and Security in the UK Gambling Industry

These are exciting times for the UK gambling industry. The impact of internet technology is now being felt with online gambling now controlling the industry.  The adoption of cutting-edge technology is reasonable for the boom in the industry. From live casinos, mobile apps to artificial intelligence, incredible trends continue shaping the gambling industry. However, it is the rise of cryptocurrency casinos that seeks to redefine UK gambling.  Many operators now include crypto coins such as bitcoin, Ethereum and Litecoin as part of their banking methods. Others offer exclusive bitcoin payments and promotions based on digital tokens. This revolutionary trend has a huge impact due to enhanced safety and security on these platforms. Players looking for peace of mind when playing online now opt to use cryptocurrencies. This post looks at how cryptos guarantee the safety and security of players at online casinos. How Cryptocurrency Gambling Works There’s a lot of talk ab...

Coinbase to Require Recipient Information for Crypto Transfers From Users in Canada, Singapore and Japan

  Customers in those countries who send crypto outside their Coinbase accounts must provide recipients’ names, addresses and in some cases, additional information, as of early April. Cryptocurrency exchange Coinbase Global (COIN) will soon require its customers in Canada, Japan and Singapore who send cryptocurrency to another financial institution or exchange to provide the name, address and in the case of Japan, the destination wallet of the recipient. Coinbase has been sending notices to its customers in those countries that the changes will take effect in early April in order to comply with local travel rules in those places. Coinbase didn't immediately respond to requests for additional comment on the moves, but confirmed that they were taking place. The move  does not seem to be going over well  with Coinbase customers in those countries, who value the anonymity of transactions using cryptocurrency. According to a  FAQ provided by Coinbase , for Canadian users, ...

Farm GRASS earn MONEY

  Use your Unused Internet Bandwidth to make $$$ In today’s interconnected world, the concept of passive income has taken on new dimensions, offering innovative ways for individuals to monetize underutilized assets.  One such groundbreaking avenue involves earning money by selling your unused internet connection.  By participating in decentralized networks like Grass, individuals have the opportunity to turn their dormant bandwidth into a valuable asset, contributing to a fairer and more equitable digital landscape while generating income. Grass is a decentralized network sharing application designed to offer an alternative to existing centralized networks.  It allows users to sell their unused bandwidth directly, without the need for exploitative middlemen.  The platform operates by enabling users to download a web extension that runs in the background, assisting others in accessing public web data in exchange for payment using the protocol’s native token. How ...