Here’s what happened this week in Bitcoin in 99 seconds.
The popular mining company Bitmain is looking to IPO, forcing it to disclose its financial position. Surprisingly, Bitmain has over 1 million Bitcoin Cash while their Bitcoin holdings are at only 71,560. Analysts say that this outsize Bitcoin Cash position represents a major liability for Bitmain.
The popular Square payment service announced the extension of Bitcoin trading over its Cash App to all American states. Square had an estimated 7 million customers at the start of this year.
Americans may now invest in Bitcoin through exchange-traded notes known as Bitcoin Tracker One. These notes are now available for USD trading on the Nasdaq exchange and offer similar functionality as the much-awaited Bitcoin ETF.
A wealthy crypto investor is suing the AT&T phone company for giving a hacker ownership of his phone number, which led to the theft of $23 million in crypto from his exchange account.
GPU-maker Nvidia saw a 5% drop in its share price as its third-quarter earnings report showed less demand for its hardware among crypto miners. This is probably due to the falling altcoin prices which rely heavily on GPU mining.
And finally, a defendant in California accused of breaching a large gaming network, has been allowed by the US Federal Court to pay his bail fees, a total of $750,000, in the form of Bitcoin or any other kind of cryptocurrency.
That’s what happened this week in Bitcoin. See you next week.
https://99bitcoins.com/bitcoin-news-summary-august-20-2018/
