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Bitcoin [BTC] and other cryptocurrency reserves of mining giant Bitmain allegedly running on fumes

Bitmain, the mining giant that came close to controlling more than 50% of hash rate responsible for mining Bitcoin is now down in the dumps, as per the latest rumors circulating the depths of the cryptoverse. A Twitter user @btcking555 tweeted, “BREAKING: The insider just wechat Bitmain’s latest crypto holdings are 6k in BTC and 750k in BCH. Thats around $130 mln in total value and almost 90 prc down from a year ago !! Also Bitmain had to liquidate some 500k BCH over Q3 and Q4 to cover losses. No wonder BCH has tanked” To make matters worse, Bitmain lost half a billion dollars in Q3 of 2018. This further substantiates rumors of Bitmain’s demise, especially when compared to the first half of 2018 during which Bitmain had profits worth $1 billion. Putting two and two together, one can assume that the aforementioned tweet about the sell-off of their crypto-reserves makes sense since Bitmain is in dire need of funds. Moreover, Bitmain’s dream for an IPO under Hong Kong Stock Exchange [HKEx] has not yet materialized as the exchange said that it was reluctant to allow IPO related to cryptocurrencies, owing to its highly volatile market. @brcking555 further continued, “Also Jihan is desperate to raise any capital in order not to sell down any more BCH and is pissed about todays leaks to media about massive Q3 losses. His “smoking mirrors” announcement on 7nm chip may not even help him.” Alister Milne, the CIO of Digital Currency Fund and a Bitcoin enthusiast replied to the above tweet in agreement, “Looks like they dumped 16k BTC as well … combined, its probably why $6000 broke.” @eddyspenserwold commented on the same thread, “March 2018 Bitmain holdings: BTC 22,082 BCH 1,021,306 Now BTC 6,000 (liquidated 70%) BCH 750,000 (liquidated 25%) Observations: Bitmain still believes in Bcash. In Q3-4 2018, Bitmain sold more Bitcoin than Bcash but Bcash tanked more.” Another prominent person in the cryptocurrency ecosystem, Udi Wertheimer commented, “I mean, shitcoin twitter isn’t going to like this reply, but if they liquidated ~50% of their holdings in 6 months that’s pretty bullish for BCH from here on out” People in the community have speculated that the mining giant’s reallocation of hash power during the Bitcoin Cash hard fork combined with the brutal bear market of 2018 has contributed to Bitmain’s current state. The post Bitcoin [BTC] and other cryptocurrency reserves of mining giant Bitmain allegedly running on fumes appeared first on AMBCrypto.

Followup on Bitmain’s New Round Layoffs Targets its AI Business

Bitmain, the demonstrated Beijing-based Bitcoin mining manufacturer at the center of the media storm recently relating to its mass layoffs, shrinking operation, and difficulties related to its IPO process. Of late, some sources disclosed that the company has just completed a new round of layoffs. It was reported that the recent Layoffs involved mainly took place at Bitmain’s blockchain, artificial intelligence (AI) and chip business lines. Surprisingly, although the company used to disclosed its AI expansion in May 2018, and was attempted to transform its business model to AI, this time, the AI department has become one of the hardest hit areas in this round of layoffs. A laid-off employee that used to work in Bitmain’s Copernicus team shared his experience under an assumed name of “Wu Feng”. Wu said that the Copernicus team that mainly managed Bitcoin Cash development has over 40 members in its heyday, however, the entire development team has been laid off during the undergoing adjustment. Wu disclosed that Bitmain gave his two layoff compensation packages N+2 monthly salary or N+1+3 where “3” stand for company stakes that valued at 3 times of his monthly salary. Wu chose the N+2 package as he considered that Bitmain’s IPO could fail. Moreover, according to a former employee that close to Bitmain’s top executives, Bitmain used to have about 3,000 employees including 1,000 in the marketing, sales and administration department, and about 2,000 in the mining and AI department. However, 30-40 percent of the mining business staff and 50 percent of their AI staff were laid off and the total number of employees of Bitmain has shrunk to around 1,000. He further added that Bitmain’s AI chip business includes cloud chip and terminal chip, the relatively less important terminal chip business experienced the cruelest layoffs while the cloud chip sector is also cutting their staff numbers. Bitmain admits they have done “some adjustment” to their staff at the end of 2018 based on their business arrangements but denies the recent mass layoffs.

Bitmain Announces BM1397 Chip with 28.6 Percent Improvement in Power Consumption

In a blog post published February 18, 2019, the Chinese cryptocurrency mining juggernaut Bitmain announced the launch of their next generation 7nm ASIC chip, named BM1397. The new chip facilitates faster and more economical mining for cryptocurrencies that use the SHA256 algorithm for computation of mathematical problems. Energy Efficient BM1397| Bitmain Technologies’ new BM1397 chipRead MoreRead More. The post by Aisshwarya Tiwari appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News
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Bitmain Announces Its Next Gen Bitcoin and Bitcoin Cash Mining Chip

CoinSpeaker Bitmain Announces Its Next Gen Bitcoin and Bitcoin Cash Mining Chip The Chinese-based mining giant and ASIC hardware manufacturer, Bitmain, unveiled a new 7-nanometer Bitcoin mining processor. The new ASIC (application-specific integrated circuit), will offer new levels of energy efficiency according to the company. This new mining hardware, BM1397, features an excellent design for mining cryptos that use the SHA256 algorithm for their proof-of-work (PoW). Some of the major digital tokens that use the SHA256 algorithm include Bitcoin Cash (BCH) and Bitcoin (BTC). Bitmain announced the updates in a blog post published on February 18, 2019. The new BM1397 chip provides faster and cheaper cryptocurrency mining according to that announcement. It is manufactured using a 7nm FinFET process from Taiwan Semiconductor Manufacturing Company (TSMC), Bitmain’s primary chip supplying contractor. The new chip amalgamates new chip design methodology together with an outstanding 7nm semiconductor manufacturing process. It requires lower power to operate offering energy consumption to computing ratio of as low as 30J/TH. Bitmain added that: “This is a 28.6% improvement in power efficiency in comparison with Bitmain’s previous 7nm chip, the BM1391. To achieve this, Bitmain’s engineering team has carefully customized the chip design to optimize its architecture, circuit and economics.” Antminers The latest ASIC will feature in the new S17 and T17 Antminer mining devices that Bitmain plans to launch later. This announcement comes a few months after the company unveiled its most recent S15 and T15 Antminers in November 2018. Both of these devices are powered entirely by the BM1391 ASIC. The company also launched ASIC miners for ethereum and zcash cryptocurrencies last year. That move made ethereum’s open-source development community developers to agree to implement an ASIC-blocking algorithm in January 2019. The algorithm, programmatic proof of work (ProgPoW), restricts the mining hardware on the network. However, ProgPoW faced delays earlier this February to give way for audits to gauge the effectiveness of the method. The Bears of 2018 The company will hope that this launch of a new mining processor will, in turn, improve its fortunes. 2018 was a hard year in the entire crypto market arena. An uninformed bet on BCH saw Bitmain lose over $740 million in Q3 2018 alone. In the fourth quarter of 2018, the company slashed its staff strength considerably in some cases laying of whole departments. Initially, the company dismissed its Israeli-based R&D department before firing its Bitcoin Cash development team. The co-founders Ketuan Zhan and Jihan Wu also left with reports emerging that the company was in search of a new CEO. The IPO plans suffered due to the dismal 2018 cryptocurrency markets. At the begging of this year, we announced that Bitmain’s proposed mega mining facility in Texas was put on hold. The mining business, in which Bitmain Technologies was leading, is becoming unsustainable; the persistent bearish market is partially to blame. A Blemished IPO The company may have lost approximately $500 million in Q3 2018 amid a generally bearish cryptocurrency market. Bitmain recently published an update on its financial results to the Hong Kong Stock Exchange (HKEx). The exchange is reviewing Bitmain’s application for an IPO (initial public offering). As confirmed in our earlier post, the IPO application was originally filed in September 2018. This update revealed that Bitmain earned almost $500 million in the first nine months of 2018. The earnings originated from slightly over $3 billion of revenues according to a genuine source familiar with the situation. However, the private filing does not break down the results on a quarterly basis. Previously, Bitmain announced that it had grossed profits of around $1 billion in the first half of last year. Subtracting that amount from a $500 million profit reported for the first nine months leaves a net loss of about $500 million for Q3. The company had also published $2.8 billion of revenues for the first half of 2018. Thus, the $3 billion figure for the first 9 months works out to Q3 revenues of a mere $200 million. When contacted, the company declined to comment due to its pending IPO application. However, an unnamed representative for Bitmain denied the report saying: “The rumors are not true, and we will make announcements in due course in accordance with the requirements of relevant laws and regulations” Although Bitmain denies the allegations, the massive layoffs last year prove that the company was going through a severely bleak patch. Bitmain Announces Its Next Gen Bitcoin and Bitcoin Cash Mining Chip

Bitmain Launches New Energy-Efficient 7nm ASIC Chip for Bitcoin and Bitcoin Cash

Bitmain, the largest mining hardware manufacturer in the world, has launched a new 7nm ASIC mining chip which achieves new levels of performance, chip size, and energy efficiency for mining Bitcoin (BTC) and Bitcoin Cash (BCH). New Chips For Mining Bitcoin and Bitcoin Cash Graphic courtesy of Bitmain Chinese mining giant Bitmain has launched a new generation of ASIC mining chip in a bid to reverse the trend of mining unprofitability. The company announced the development in a press release on Feb. 18, saying that the new 7-nanometer bitcoin mining processor will offer new levels of energy efficiency. The new ASIC chip, or application-specific integrated circuit chip, is called the BM1397 and will be used to mine cryptocurrencies such as Bitcoin (BTC) and Bitcoin Cash (BCH) and other cryptocurrencies which use the SHA256 proof of work (PoW) mining algorithm. The BM1397, much like its predecessor, the BM1391, will be powered by the 7nm FinFET process, an advanced semiconductor manufacturing technology that “integrates more than a billion transistors.” The technology is optimized for “maximum efficiency,” Bitmain stated, adding that its engineering team has thoroughly customized the chip design to optimize its architecture, circuit, and production economics. Energy Efficiency Could Solve Unprofitability The new BM1397 chip requires lower power and can offer an energy consumption to computing ratio as low as 30J/TH, making it a 28.6 percent improvement in power efficiency in comparison with the BM1391. The chip will be featured in the new S17 and T17 Antminer models with the release dates still pending. The company said that the BM1397 is a testament to its work on improving chip design methodology. Despite the market downturn for miners, it seems that Bitmain has continued to develop some of the most advanced cryptocurrency mining chips. The launch of the new chip may come as a surprise considering the mining giant’s recent cutbacks. Bitmain has suffered operational issues in 2018, with the company firing a large percentage of its employees and both of its co-CEOs. The decline of Bitmain is likely a direct consequence of the crypto market crash of 2017 and 2018, with mining revenues closely linked to the price of Bitcoin and other cryptocurrencies. These falling cryptocurrency prices have forced many small and middle scale mining operations to close their doors. However, industrial-scale miners have been able to weather the downturn, with deep cutbacks. Instead of switching off rigs, the new BM1397 chip provides an energy-efficient alternative, potentially enabling profitability for miners on the fringes. The post Bitmain Launches New Energy-Efficient 7nm ASIC Chip for Bitcoin and Bitcoin Cash appeared first on CryptoSlate.

What in the World is Going on With Bitmain’s Crypto Mining Business? 2019 Update Review

There has been a lot of conversation in the crypto community in the past with regards to Bitmain and their operations. In specific, there is even more speculation about the solvency and efficacy of the ownership of Bitmain after the crypto media publication, CoinDesk, released a report that alleges Bitmain lost $500 million during Q3 2018 in which we covered below: Bitmain Q3 of 2018 Bitcoin Mining Reports Show $500 Million in Losses During Bear Market According to the report, this was information t hat was leaked by an ‘inside source’. However, Bitmain has put out a press release in lieu of the CoinDesk media report from an ‘inside source’ denying all of the claims that were made about the company’s solvency as well as their P/L: Still, this has not stopped rampant speculation about Bitmain’s solvency. This, of course, comes just weeks after Bitmain was forced to deny accusations and rumors of Jihan Wu’s alleged ‘dismissal’ from the company as its head and CEO: Bitmain Continues to Adjust Staff as CEOs Jihan Wu and Micree Zhan Allegedly Steps Down as Well What’s Going On With Bitmain? With the slew of rumors circulating around the company — it is reasonable to speculate, ‘What in the world is going on?’ It is hard to believe that it is merely a coincidence that Bitmain has been the target of so many rumors in such a short space of time. However, part of the reason for these rumors could be due to Bitmain’s general reputation in the crypto community, which is that of a ‘dirty’ company that does not “play by the rules”. Passages from David Vorick’s article titled, ‘The State of Cryptocurrency Mining’, yield some insight into how Bitmain is perceived into the cryptocurrency space and the types of ‘underhanded’ / ‘dirty’ actions that they take against their competitors. Below is an example: David Vorick also mentions warnings that he and the Siacoin received about Bitmain when they were attempting to build their ASIC miner. In specific, he notes how many warned him that if Bitmain figured out that the Siacoin team were using a Chinese manufacturer (Bitmain is based in China) to source the manufacturing and production for their ASIC chip, then Bitmain would undermine those efforts somehow. David notes that the Siacoin team proceeded to use a Chinese manufacturer anyway. However, he notes that: “ We did everything we could to keep the entity disconnected from Obelisk, and we hid the name of the manufacturer from our website or any public data, and we were very careful with who we gave the name of our manufacturer privately. We had a separate entity put in parts orders where we could.” Despite the purposeful attempts to source manufacturing in China without being noticed, David states that the following happened: “ After any reasonable timeframe to reach out to another manufacturer, after-hours on a Friday night, our manufacturer reached out to us and said with little warning or reasonable explanation that they would be unable to manufacture for us. Just as we had been warned, our attempt to manufacture in China had fallen flat on its face. This setback is estimated to have cost us somewhere north of $2 million.” To be clear, David is clear to state that, “ We have absolutely no evidence that Bitmain was involved in any way. We’ve had other companies reach out to us and confirm that they’ve experienced similar things, but they too had no concrete evidence that Bitmain was involved in any way.” But the clear implication from this passage of the article was that there is a high likelihood that Bitmain was behind these efforts. Cost Effectiveness for Bitmain Another passage in the David Vorick article that was interesting was the regaling of details about Bitmain’s efficiency in terms of chip production and payment rates for electricity. In specific, David states: “It’s really hard to know where Bitmain is at, but based on everything we’ve been seeing we estimate that Bitmain is somewhere around the $30 per kilowatt per month mark. That is, they are doing better than the median mining operation, but by no means are they in the elite tier.” This is insightful because one would expect a large mining company like Bitmain that has allegedly accrued so much money in revenue to be getting the best rates on electricity in the industry. However, according to David, this is far from the case. David also states that: More Inside Information On Bitmain’s Current Reserve Cash Twitter user, ‘@btcking555’, an individual who is known for tracking information pertaining to Bitmain, its subsidiaries and information related to its mining operations in specific posted this tweet today (February 19th, 2019): BREAKING: The insider just wechat Bitmain’s latest crypto holdings are 6k in BTC and 750k in BCH. Thats around $130 mln in total value and almost 90 prc down from a year ago !! Also Bitmain had to liquidate some 500k BCH over Q3 and Q4 to cover losses. No wonder BCH has tanked — BTCKING555 (@btcking555) February 19, 2019 Preliminary research appears to corroborate this statement as the author was able to find a wallet belonging to Bitmain that contains 3k Bitcoins in it currently ( 1KwA4fS4uVuCNjCtMivE7m5ATbv93UZg8V ). Conclusion Bitmain is a giant question mark at this point in time. The rumors, ‘leaks’, and unverified reports coming from numerous different sources appear to yield great evidence of financial troubles and inner-turmoil within the mining company — but until there is more verified evidence/information, this must be considered speculation for the time being. It is worth noting, however, that the significant decline in the crypto space throughout the majority of 2018 to this point has led to the bankruptcy and dissolution of countless crypto firms and projects in the space. So, the concept that Bitmain is currently facing financial troubles or that Bitmain suffered a major loss at some point in 2018 is extremely plausible. There are hardly any companies or projects that were able to successfully make it out of 2018 unscathed and just about every sector of the crypto markets apart from VC investment saw a significant decline in funding, interest, and volume throughout the year. However, without verified reports on some of the data and information that is being shared throughout the space, the impact of the 2018 bear market is currently unknown.
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Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto?

While Elon Musk has yet to formally delve into the Bitcoin space, he has long been a fabled member of the crypto community. Since finding his way to the headlines of the world’s media, the Tesla chief executive’s pro-innovation mindset has struck a chord with many enamored with cryptocurrencies. In fact, some say that Musk’s unsaid raison d’etre of bettering society at large, especially by amending the world’s most harrowing issues (climate change, confinement on Earth, financial inequality), lines up with the goals held by many cryptocurrency insiders. Thus, some have even argued that Musk could be Satoshi Nakamoto. Sahil Gupta, a former intern at Musk’s second multi-billion dollar enterprise SpaceX, once infamously claimed that Musk’s brief mentionings of cryptography, economics, the C++ computing language, along with the entrepreneur overarching vision scream Satoshi. The South African-Canadian entrepreneur has done his best to keep his mouth zipped regarding his candidacy for the Satoshi title, but that hasn’t stopped him from talking about cryptocurrencies. We had @elonmusk on the latest episode of @ARKInvest's podcast! He had a few things to say about Bitcoin. "Paper money is going away and cryptocurrency is a far better way to transfer value than pieces of paper." – Elon Musk — Yassine Elmandjra (@yassineARK) February 19, 2019 Bitcoin Is “Quite Brilliant” While the crypto market has remained in a depressed state, save for Monday’s jaw-dropping rally, stars have begun to descend on this industry. Weeks ago, NewsBTC reported that a mass of celebrities, including the Spice Girl’s Mel B, Johnny Depp, Madonna, and Lionel Messi, had some involvement in cryptocurrency. More recently, Jack Dorsey of both Twitter and Square took to Joe Rogan to claim that the native currency of the Internet is likely to be Bitcoin. Related Reading: Twitter CEO Loves Lightning on Bitcoin: is it the Future of Fast, Instant Payments? And just on Tuesday, Elon Musk, the most well-known Silicon Valley guru, took to the New York-based ARK Invest’s “FYI” Podcast to touch on Tesla’s plans, autonomy, other innovations, such as crypto. Per The Block, who compiled his comments regarding cryptocurrencies, Musk made his comments with explicitly bullish tones. After discussing Tesla’s most recent advancements, the hosts of the podcast, the CEO and an analyst at ARK, a disruptive innovation-centric investment group, took a brief aside. They asked Musk if he agrees with Dorsey’s recent comments on Bitcoin and cryptocurrencies at large. Interestingly, Musk responded with an answer, albeit somewhat cursory. He tacitly agreed, noting that the “Bitcoin structure was (is) quite brilliant,” adding that Ethereum and “maybe some of the others” have merit too. Musk did admit that he isn’t too enamored with Bitcoin’s Proof of Work (PoW) consensus mechanism, noting that it is energy intensive. Yet, he explained that fundamentally, crypto assets are great as they bypass currency controls, especially in nations embroiled in financial and political turmoil, like Venezuela. He added that cryptocurrencies are also a “far better way to transfer value than pieces of paper,” subsequently quipping that he’s sure of this “without a doubt.” In spite of all this, he made it clear that Tesla isn’t going to foray into the crypto space in any capacity, noting that it would be a good use of his firm’s resources to prop up an offering. Musk’s abrash comments quickly elicited responses from each and every corner of the crypto space. Matt Odell, a long-time pro-Bitcoin coder and industry personality, joked that the comments “confirmed” his bias that cryptocurrencies could oust banknotes. Changpeng “CZ” Zhao of Binance noted that eventually, “[Musk] will join the brotherhood,” adding that he is unequivocally sure that the businessman will take up a crypto mantle. CZ notably called on the Tesla founder to take up the Lightning Network Trust Chain torch last week, just days after Twitter’s Dorsey openly lauded Bitcoin in dozens of tweets. Crypto Is Better Than Banknotes? While Musk made notable acknowledgments in his brief appearance on ARK’s “FYI,” what stood out to many crypto investors was his thoughts on the dichotomy between banknotes & physical cash, and crypto assets, not centralized e-money. For a brief recap, Musk simply stated that he is unequivocally sure that crypto, whether it be Bitcoin, Ethereum, or otherwise, is a “far better” medium of exchange than pieces of paper. Shocking, right? This may be deemed hearsay by pundits of the legacy world, but the world is already adopting digital mediums of exchange. Per previous reports from this outlet, Arthur Hayes of BitMEX took to his company blog to claim that platforms like WeChat Pay and AliPay have already begun to take over China’s financial system. Who’s to say that cryptocurrencies, a decentralized counterpart to these systems that tout their own currencies, cannot have a similar impact on society at large. The fact of the matter is that these digital payments systems, whether decentralized or centralized, offer benefits that cash/plastic cannot. Case in point, payments on both Bitcoin and WeChat Pay are cheap, rapid, and relatively secure. But arguably, decentralized payment ecosystems, which are non-sovereign, private, immutable, and non-censorable, are even better than their centralized peers, which is likely what Musk was touching on. Featured Image from Shutterstock Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto? was last modified: February 20th, 2019 by Nick ChongThe post Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto? appeared first on NewsBTC.

In the Daily: Elon Musk Talks Bitcoin, Shanghai’s Fudan University, Xdat Exchange

In this edition of The Daily we cover some largely supportive remarks the famous entrepreneur Elon Musk has made about Bitcoin, the latest academic institution to launch a blockchain R&D center, and a new offering from Malta-based exchange Xdat. Also Read: Bank of Spain Report: Bitcoin Is a Solution for a System Without Censorship Elon Musk Talks Bitcoin The founder of Tesla and Spacex, Elon Musk, is once again making headlines about crypto. He recently went on the Ark Invest podcast to discuss the future of autonomous driving technologies. Most of the half-hour interview focused on the strategy behind his electric car company but the topic of cryptocurrency eventually popped up in the last four minutes. Musk commented: “I think the Bitcoin structure is quite brilliant. There seems like there is some merit to Ethereum as well, and obviously others. But I’m not sure if it’s a good use of Tesla resources to get involved in cryptos … We’re really just trying to accelerate the advances of sustainable energy. One downside of Bitcoin is … computationally it’s quite energy intensive. There has to be some kind of constraint on the creation of crypto. It’s very energy intensive to create the incremental bitcoin at this point … It bypasses currency controls. Paper money is going away, and crypto is a far better way to transfer value than pieces of paper. That’s for sure.” Shanghai’s Fudan University Launches Research Center Shanghai’s Fudan University has become the latest academic institution to launch a blockchain R&D center. Founded in 1905, Fudan is one of the most prestigious and selective schools for higher learning in China. The Shanghai Blockchain Engineering Technology Research Center is tasked with carrying out basic research in the field, developing demo applications in collaboration with the broader industry, and training talent to serve Shanghai’s economic development. Last month the University of California, Berkeley announced the formation of its own blockchain-focused startup accelerator program, the Berkeley Blockchain Xcelerator. This program is meant to help aspiring entrepreneurs create high-value ventures in the blockchain space with industry guidance from Silicon Valley. Xdat Exchange Lists 18 Trading Pairs Xdat, a new Malta-based cryptocurrency trading exchange, has announced the listing of 18 trading pairs. These comprise ETH/BTC, BCH/BTC, EOS/BTC, ETC/BTC, XRP/BTC, DASH/BTC, LTC/BTC, BTC/ETH, BCH/ETH, EOS/ETH, ETC/ETH, XRP/ETH, DASH/ETH, LTC/ETH, BTC/TUSD, ETH/TUSD, BTC/EURO, and ETH/EURO. The company has further plans to add other pairs over time. The exchange is compliant with Maltese regulations for KYC and AML procedures and caters to both retail and institutional investors. Its fiat gateway allows users to deposit funds in 12 major currencies: USD, GBP, JPY, HKD, CHF, AUD, NOK, SEK, DKK, CZK, PLN, and HUF. This selection is meant to eliminate the need for involvement of a foreign bank for the supported options and allows users to work solely with Xdat’s bank. “Xdat is on a mission to address the key problems of existing exchanges … including lack of flow of new capital, lack of trust, no approach for mass adoption, and high fragmentation,” said CEO Prashanth Swaminathan. “Our aim is to bring crypto to all. To that end, we will be working closely with our community and using their support and feedback to make our interface more user-friendly and trading as streamlined as possible.” What do you think about today’s news tidbits? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from The post In the Daily: Elon Musk Talks Bitcoin, Shanghai’s Fudan University, Xdat Exchange appeared first on Bitcoin News.
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Elon Musk Praises 'Brilliance' Of Bitcoin And Ethereum, But Clash With Tesla's Energy Stance

Main Street seems to be giving cryptocurrency a second look. Last week, Jamie Dimon and JPMorgan Chase & Co. (NYSE: JPM) announced an investment in JPM Coin, which will become the first digital token provided by a U.S. bank. This week, Tesla Inc (NASDAQ: TSLA) CEO Elon Musk lent cryptocurrency additional validation. “Paper money is going away, and crypto is a far better way to transfer value than pieces ...Full story available on

Elon Musk Calls Bitcoin "Brilliant" | Here's Why He's Optimistic

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