While we had holidays, blockchains were working. So there is a lot of news that we are ready to share with you. This time we sum up the results not only for the last week but also for the past month.
1. April was a success for Bitcoin, this month its price rose by 28% - it's a record for the last year.
2. Fintech company Square has published a report for the first quarter of 2019: the turnover of bitcoin transactions was $65.5 million, while the revenue accounted for $832,000. This is the all-time high result.
3. The biggest scandal for the last month was connected with Bitfinex and Tether. $850 million disappeared from accounts of the crypto exchange, so it decided to take them from the Tether reserves. And USDT, as we know, has been having problems with the backing of its own tokens with real assets.
This week Tether lawyers confirmed that the stable coin is backed by fiat money only for 74%. According to them, No bank holds in liquid cash more than a small percentage of depositors’ money. Meanwhile, Bitfinex representative said that the company intends to release its own token (probably, it will be easier to cover some holes without any “partners”).
4. This week hackers stole crypto from the mail services - Hotmail, Outlook, MSN. They got access by breaking the Microsoft Support Service and using it for phishing. Also, a hacker attack on Electrum took place this week, which captured more than 152,000 crypto wallets.
In total, cybercrime cost the industry more than $1.2 billion, and this is only after the first quarter of 2019, — CipherTrace released such data last week.
5. CoinMarketCap said it would remove crypto exchanges from its calculations if they did not provide real-time trading data. Thus, the service tries to increase the transparency of the crypto sphere. We wish CoinMarketCap success and inspiration in this challenging business.
6. And crypto continues to gain popularity in the traditional financial sector. The Nasdaq stock exchange added another cryptocurrency index to its services: XRPLX will display rate of Ripple prices to US dollars. Meanwhile, Fidelity Investments conducted a survey and found that 22% of institutional investors out of 411 respondents own digital assets. Other 40% among surveyed are open to such investments in the next five years.
WTFBit Media writes about blockchain and emerging technologies in a simple way, with humor. We also work with diverse clients helping them effectively deliver the message to their audience.