TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto update from your favorite reporter, Linzerd. Square’s bitcoin sales grew 92% from 2018 to 2019. Coinbase Wallet introduces support for dogecoin. Binance seems to have enabled margin trading on some pairs. No bail for executive of a shadow bank who served top crypto exchanges. Blockstream execs not condemning Tether due to conflicts of interest. Bitcoin Cash (BCH) transactions grew 400% since January, and a final BCH Development Meeting to be held before the scheduled upgrade.
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Square Bitcoin Sales Grew 92% in Just One Year
Square customers bought $65.5 million of Bitcoin last quarter on Cash App.
That’s 4 straight quarters of *accelerating* revenue growth for Square's Bitcoin business, and 92% growth YoY.
TO THE MOON 🚀 pic.twitter.com/i6mg7BekAf
— Kevin Rooke (@kerooke) May 1, 2019
Square, a payment provider and cryptocurrency exchange platform, experienced sustained growth in their bitcoin sales, increasing for four quarters in a row, according to Kevin Rook, a cryptocurrency researcher. This constitutes a major success for Square, founded by Jack Dorsey of Twitter, solidifying a growth of over 90% from 2018 to 2019, propelled just by retail investors without any institutional source of money on the platform.
Coinbase Wallet Introduces Support for Dogecoin
Coinbase announced through a blog post that their Coinbase Wallet now supports Dogecoin, the meme coin that has reached an interesting place on the crypto market. Coinbase Wallet is user-custodied, meaning the private keys are always kept by the user. This new feature will be rolled out next week with support for iOS and Android users, also including testnet functions for developers and power users.
Binance API Shows Margin Trading Enabled for 9 Pairs
Crowd intelligence is amazing.https://t.co/CsnqdcWp9F
— CZ Binance (@cz_binance) May 2, 2019
A change in the programming API of the Binance exchange has led some to believe margin trading is now open for certain market pairs on the platform. A new variable called “isMarginTradingAllowed,” thought to be a flag indicating if a pair can be the object of margin trade, has been found as a boolean for pairs BTC/USDT, BNB/BTC, BNB/USDT, ETH/BTC, ETH/USDT, TRX/BTC, TRX/USDT, XRP/BTC, XRP/USDT. Changpeng Zhao linked to the Reddit post announcing this first, stating that “Crowd intelligence is amazing.”
No Bail for Ex-Football Investor Accused of Running a Crypto Exchange Bank Scheme
This man played such an enormous role in keeping so many crypto exchanges up and running. It is just mind boggling. Who would have thunk? https://t.co/7dKmE5hUMm
— Amy Castor (@ahcastor) May 2, 2019
Reginald Fowler, who was once a football investor, will be held without bail for the crimes of running an unauthorized bank to serve top cryptocurrency exchanges, due to his deep connections and access to the resources to leave the country. Fowler is being accused of running a bank fraud business using Crypto Capital, a payment processor, to serve top crypto exchanges QuadrigaCX, Bitfinex, Kraken, Binance, and BitMEX. The company received more than $700 million just last year. Fowler has also been accused of running a counterfeit operation and presenting fake bonds as collateral to some banks.
Blockstream Executives Siding With Tether Due to Conflict of Interest
Why are we not talking about Adam Back and Samson Mow, two of the most visible employees of Blockstream publicly siding with Bitfinex given that Bitfinex is an early investor in Blockstream? The conflicts of interest in this space are something else…
— Larry Cermak (@lawmaster) May 2, 2019
Larry Cermak, head analyst of The Block, hinted at the reason why visible Blockstream personalities like Adam Back and Samson mow failed to condemn the Bitfinex/Tether issue. Cermak reveals Bitfinex is an early investor in Blockstream, and that the BTC dev company failed to highlight this fact enough, creating what he calls a classic conflict of interest. Back and Mow have chosen to show approval or at least not to attack Tether and Bitfinex for the “seized funds” and massive coverup that is alleged to have happened.
Bitcoin Cash Transactions Up 400%
Bitcoin Cash transactions per day are up ~ 400% since 2019 began pic.twitter.com/IPoubkimJl
— LongHash (@longhashdata) May 2, 2019
The number of transactions being made daily on the Bitcoin Cash blockchain increased 400% since the year began, according to analysis site LongHash. The number of transactions has gone from less than 10K in January 2019 to more than 40K in April, with numbers provided by Coinmetrics, a cryptocurrency market analytics firm.
Bitcoin Cash 9th Development Meeting
#BitcoinCash 2019 Developers meeting no. 9 to take place Monday, May 6th at 23:00 UTC.
Information available at https://t.co/xmyPxbvXxC … …
— Bitcoin Cash (@BitcoinCash) May 3, 2019
Perhaps the final BCH developer meeting prior to the May 15th, 2019 scheduled upgrade, will be held May 6, with the objective of ironing out any kinks and to discuss information that will help to better implement this update. Also, discussion for the new update, planned to be held next November, will happen during this meeting. If you are a developer and want to share your POV, the information to assist is available at The Future of Bitcoin Cash.
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