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Bitcoin News Summary – June 1, 2020

The post Bitcoin News Summary – June 1, 2020 appeared first on 99 Bitcoins.

Barry Silbert’s Grayscale Bitcoin Trust has been accumulating more than the daily Bitcoin supply since …

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Barry Silbert’s Grayscale Bitcoin Trust has been accumulating more than the daily Bitcoin supply since the halving. More than 12000 BTC have been mined since the halving, whereas Grayscale has purchased almost 19000 BTC since that event.

Prominent Bitcoiner, Tyler Winkelvoss, took to Twitter to call out investment bank, Goldman Sachs. A day before, Goldman published a list giving 5 reasons why Bitcoin is “not an asset class” or “suitable investment.”  Tyler drew attention to the $6 billion Dollar money-laundering scandal which tainted Goldman earlier in the decade and said the bank’s statements mean they’re afraid of clients leaving for Bitcoin.

US and Canadian users of Samsung Blockchain Wallet can now trade crypto via Gemini exchange within the app. Both companies announced further crypto developments this week. Samsung introduced a new security chip for its devices which will better secure mobile banking and cryptocurrency usage in its new mobile devices. While Gemini has partnered up with Bitwage to introduce the world’s first Bitcoin 401k plan that enables companies to provide their employees with the ability to invest in Bitcoin. 

Argentina is taking steps to protect the falling value of its rapidly-inflating peso. The country’s Financial Information Unit is imposing stricter rules on crypto trading, which calls for closer monitoring of all crypto traders by banks. It’s unlikely that the new rules will prove effective at stopping the rising volume of P2P crypto trading in Argentina.

Before we conclude, this week’s “Bitcoin quick question” is what is Bitcoin arbitrage?

Bitcoin arbitrage is the purchase and sale of a Bitcoin in order to profit from a difference in the Bitcoin price between markets.

Bitcoin is traded across many exchanges and its price is determined on each exchange separately. Factors such as trading volumes, liquidity, and exchange risk impact the difference in Bitcoin’s price between exchanges.

For example, Bitcoin’s now traded at a lower price on Bitstamp, while simultaneously being traded for $40 higher price on Livecoin, which has less trading volumes, lower liquidity, and higher exchange risk. Using the same example, an arbitrage trader would buy a Bitcoin on Bitstamp in order to sell it on Livecoin and profit from the $40 difference (excluding the fees). 

Arbitrage trading requires speed, flexibility, information availability, and large capital.  Therefore, it is usually conducted by algorithmic traders.  If you want to learn more about Bitcoin arbitrage, visit the link in the description.

Have a question you want us to answer? Just leave it in the comment section below. And if you want to support our videos, consider using the Brave browser for faster, ad free browsing that can also earn you rewards. Just visit the link in the description below.

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

Source: https://99bitcoins.com/bitcoin-news-summary-june-1-2020/

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Harmony’s ONE Token Targets $1 After Breaking All-Time High

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Source: https://cryptobriefing.com/harmonys-one-token-targets-1-after-breaking-all-time-high/?utm_source=main_feed&utm_medium=rss

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NEAR Announces $800M in Development Grants

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

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Source: https://cryptobriefing.com/near-announces-800m-in-development-grants/?utm_source=main_feed&utm_medium=rss

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Matt Damon partners with Crypto.com around clean water project

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Digital currency exchange Crypto.com has donated $1 million to water.org, a clean-water initiative co-founded by Matt Damon and Gary White in 2009.

The direct donation will go towards supporting Water.org’s mission of ending the global water crisis by providing safe water and sanitation to people in need, the companies announced Monday. The partnership is also aimed at exposing water.org to Crypto.com’s more than 10 million users, who are also being encouraged to donate to the project.

Matt Damon cited the ongoing financial transformation brought on by cryptocurrency as one of the chief motivations for partnering with Crypto.com. “As our financial solutions and platforms evolve, we can use them for good,” he said. “Crypto.com and Water.org are both working toward positive transformation, and our innovative, financial solutions will help change lives and the world.”

Crypto.com has quickly emerged as one of the fastest-growing digital currency platforms in the world. The company rose to prominence by offering its customers a crypto-focused Visa card that pays out rewards for staking CRO, the platform’s native cryptocurrency. As Cointelegraph recently reported, the exchange has expanded its insurance program to cover up to $750 million, reflecting heightened consumer protection standards in the industry.

The cryptocurrency industry has ushered in a new era of charitable gifting as its newly rich participants look to give back to their communities. Charity: water, which has a similar mandate as Water.org, raised $1.3 million in June through a Bitcoin (BTC)-focused trust. Crypto donations platform The Giving Block has also facilitated charitable contributions for dozens of organizations by providing them with the tools and resources to begin accepting crypto contribtuions.

Related: Charitable sustainable NFTs for the United Nations’ 17 SDGs

Many nonprofits have opened their coffers to crypto donations in the wake of the Taliban’s takeover of Afghanistan in August. Crypto donations are also being used to support suicide prevention, ethical journalism and even a universal basic income project.


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Source: https://cointelegraph.com/news/matt-damon-partners-with-crypto-com-around-clean-water-project

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