Author: Marie Huillet

Comcast’s Venture Capital Arm Is Bullish On Bitcoin and Blockchain

The managing director of Comcast’s venture capital arm is bullish on Bitcoin and future real world applications of blockchain. Gil Beyda, managing director of the venture capital (VC) arm of Comcast, appeared on CNBC today, April 26, with a bullish outlook for Bitcoin and real world applications of blockchain technology. Comcast Ventures has already invested in blockchain startups, and four of the firm’s partners are focused on blockchain investments. Beyda emphasized that cryptocurrencies could have a significant impact on underdeveloped economies, with unbanked populations bypassing the traditional financial sector and moving directly to a crypto-based economy. He added that...

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Germany’s Largest Bank Posts Q1 Profits Lower Than Major Crypto Exchange Binance’s Q2, Q3

Deutsche Bank released its first-quarter net profits of $146 mln, down 79% from last year, and lower than crypto exchange giant Binance’s last two quarters. Deutsche Bank has released its first-quarter net profits of €120 mln ($146 mln), down 79 percent from last year, CNBC reported today, April 26. The net profits make the  Frankfurt-based,148-year old institution less profitable than the world’ top crypto exchange, Binance. Less than a year old, and currently the world’s largest cryptocurrency exchange by trade volume Binance has to date posted quarterly profits higher than that of Deutsche Bank. On March 3, Binance’s CEO...

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17 Mln Of Total 21 Mln Bitcoins Now Mined In Milestone For Digital Scarcity

17 mln Bitcoin have now been mined, leaving only 19% to go before the supply cap of 21 mln is reached. In a round million milestone, 17 mln bitcoins (BTC) have now been mined as of today, April 26, according to data from statoshi.info. Because of Bitcoin’s supply cap of 21 mln, this means that only 4 mln Bitcoin, or about 19 percent, remain to be mined. The last time the number of Bitcoin mined hit a round million mark was in late November, 2016. Bitcoin’s code dictates that there is a 21 mln coin cap, created as a...

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“Bitcoin Is A Scam,” Claims Ousted CEO Of Paypal

“Bitcoin Is A Scam,” says ousted CEO of Paypal Bill Harris, who was dismissed from his former post just one month into the job. Bill Harris, co-founding but short-lived CEO of Paypal, has written an opinion piece on Bitcoin in which he claims the cryptocurrency is “a scam… a colossal pump-and-dump scheme, the likes of which the world has never seen,” published on Recode Tuesday, April 24. Harris’s argument targeted Bitcoin on three fronts, asserting it is useless as a means of payment, is extremely volatile, and has “no intrinsic value.” He also placed heavy emphasis on the criminal...

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Chinese Police Seize 600 Computers Used To Mine BTC In Tianjin

Police in the Chinese city of Tianjin have seized 600 computers used to mine Bitcoin, after the local power grid operator reported abnormal electricity usage. Police in the northern Chinese city of Tianjin have seized 600 computers used to mine Bitcoin, after abnormal electricity usage attracted the attention of the local power grid operator, CNBC reports April 25. CNBC cites local media outlet Xinhua, which reported details from a local police officer saying that it was “largest power theft case in recent years,” and that “eight high-power fans” had also been seized. Xinhua has not reported when the equipment was...

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Venture Capital Firm Sequoia Sues Binance Founder Over Funding Deal

VC firm Sequoia is suing Binance’s founder Zhao Changpeng for allegedly breaching an exclusivity agreement during negotiations for an investment deal last year. Venture capital firm Sequoia is suing Zhao Changpeng, the CEO and founder of Binance, currently the world’s largest cryptocurrency exchange by trade volume, for allegedly breaching an exclusivity agreement during negotiations for an investment deal which broke down last year, Bloomberg reported April 25. Sequoia has now appealed to Hong Kong’s High Court to secure a temporary injunction to bar Zhao from negotiating with other investors, causing the dispute to go public and revealing insights into...

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China’s Official Gov’t Auditor Considers Blockchain To Streamline Data Infrastructure

China’s National Audit Office is considering a Blockchain solution to address the predicament of its cumbersome data storage infrastructure. The National Audit Office of the People’s Republic of China is considering a Blockchain solution to address the problem of what it describes as the “endless cycle of data storage and management” for its current infrastructure, according to an announcement published on its website Apr 24. The National Audit Office is tasked with auditing all government-related financial transactions, and manages a centralized data center which stores the relevant data for every subordinate auditing bureau in the country, at provincial and municipal...

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Bill Allowing Residents To Pay Taxes In Crypto Passes Arizona House Committee

A bill that would allow state residents to pay their taxes with cryptocurrencies has passed a key committee in the Arizona House of Representatives. The Rules Committee of the Arizona House of Representatives has passed SB 1091, a bill that would allow state residents to pay their taxes with cryptocurrencies, public records indicate April 23. Arizona law requires bills to pass three readings. The House Ways and Means Committee gave its approval to SB 1901 last month after the bill passed the Arizona State Senate on Feb. 8. It now will proceed to the House floor for a vote....

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Snoop Dogg To Promote Ripple At Invite-Only Event In NYC

Snoop Dogg will perform at Ripple’s “invite-only” event in New York city on May 15. Ripple is hosting a VIP gathering, dubbed “XRP Community Night,” in NYC on May 15, with a performance by Snoop Dog, the company announced Tuesday, April 24. The event is “invite-only,” but two Twitter contests will run in which participants can vie for ten tickets: “Twitter Trivia” and “Make the Meme,” on April 26 and May 2 respectively. Ripple says the “special night” is to thank those who are helping the company to develop the XRP Ledger and xRapid platform, as well as all...

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BTC Is Better Than Gold “On Every Front”, Says Hedge Fund Manager

Hedge Fund Manager John Pfeffer says BTC is better than gold “on every front,” and could rise to “no less than $90k and potentially as high as $700k.” Speaking at the 23rd annual Sohn Investment Conference, John Pfeffer, hedge fund manager at Pfeffer Capital, said that Bitcoin is the first viable candidate to replace gold, and is better than the precious metal “on every front,” MarketWatch reported yesterday, April 23. Appearing on CNBC’s Fast Money this morning, April 24, Pfeffer confirmed his prediction that Bitcoin would rise to “no less than $90,000 and potentially as high as $700,000.” Pfeffer...

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