Key highlights

  • The Reddit Bitcoin debate is positive
  • Square sold $ 125 million BTC in Q2
  • SEC cryptographic nodes can be outsourced
  • Walmart patents a stable coin
  • Grayscale using Coinbase Custody
  • S Korea begins the unregulated zone

The Reddit Bitcoin debate is positive

Interest in Bitcoin is definitely growing and is far from positive. And here comes another number that supports it. Comparitech technical researchers have analyzed more than 48,000 Reddit entries and 7,500 articles from various stores to find out which cryptocurrencies they are looking at on the most favorable terms. The study concluded that 85.5% of cryptocurrency-related topics were positive. The research also found that not only Bitcoin but even altcoins such as Cardano, Ether, Litecoin and Tron were 85-90% favorable.

Square sold $ 125 million BTC in Q2

The current positive attitude of Bitcoin is clearly visible in the financial results of the companies that work with it. According to the latest announcement, Payments Company Square generated $ 125 million in Bitcoin (BTC) revenue in the second quarter of 2019 through the Cash App mobile payment service. According to the earnings announcement, the company’s Bitcoin revenues benefited in part from the quarterly rise in the number one cryptocurrency. As a result of this price increase, Bitcoin also had a correspondingly increased volume, they say. This resulted in a gross profit of $ 2 million for the company.

SEC cryptographic nodes can be outsourced

More news appeared this week regarding the SEC’s decision to run leading cryptographic nodes. A recently published document revealed that the U.S. Securities and Exchange Commission (SEC) plans to hire contractors to operate all nodes of the cryptocurrency at a government agency. According to SEC documentation, the regulator wants third-party contractors to run the Bitcoin Core (BTC), Ripple (XRP), and Ethereum (ETH) nodes to monitor compliance risk.

Walmart patents a stable coin

After Facebook Balance, another U.S. corporate giant unveiled its cryptocurrency entry plan. And this time at Walmart. According to the company’s recent patent application, retail giant Walmart could work on the release of a USD-linked stablecoin. A submission published this week by the U.S. Patent and Trademark Office (USPTO) outlines a method for “producing a digital currency unit by pegging a digital currency unit to the regular currency”. It may also allow low-income households who find banking expensive to “manage their assets in an institution that is able to meet most of their daily financial and product needs,” the petition said.

Grayscale using Coinbase Custody

Coinbase’s reputation for providing secure custody of cryptocurrencies has attracted many customers in the past and continues to do so. The latest addition to the list is Grayscale Investments. According to recent reports, Grayscale Investments has tapped Coinbase Custody to become the new security provider for its digital asset portfolio. Grayscale says it has $ 2.7 billion in total assets under management, according to the latest quarterly report, more than doubling its $ 1.2 billion in the first quarter. Grayscale bitcoin, bitcoin cash, Ethereum, Ethereum Classic, Litecoin, Stellar Lumens, XRP and Zcash stores. Coinbase Custody also intends to hold the Grayscale’s horizon (ZEN) token to support the device until official approval.

South Korea begins the unregulated zone

South Korea has once again proven that it is deadly serious about cryptocurrencies and its future in the country. Therefore, it decided to exploit the country’s start-up industry by offering a partial “unregulated” zone for cryptographic companies. According to available news, Busan has been declared a “unregulated” zone by the South Korean national government for blockchain development, a move long awaited but now formalized as part of a larger liberalization effort. The Swiss Zug is said to be one of the models in the zone. The announcement also states that BNK Busan Bank, a local institution listed on the Korean Stock Exchange, oversees the blockchain management as it is financially related and may be developing stable money tied to winners.