Bitcoin Twitter Handle With 1 Million Followers Renounces Bitcoin Cash

Bitcoin’s (BTC) best-known names are currently playing a guessing game after one of the industry’s most controversial Twitter accounts changed its views overnight. @Bitcoin switches from Bitcoin.com to Bitcoin.org Multiple users, including Reddit’s r/Bitcoin Subreddit moderator, BashCo, are supplying theories to explain the behaviour of the @Bitcoin account.  @Bitcoin has almost one million followers, yet its name has formed a misnomer for years. Instead of promoting Bitcoin, the account has long maligned it in favor of altcoin Bitcoin Cash (BCH) after allegedly falling into the hands of major proponent, Roger…

US Unveils FedNow, Bitcoin Cash Vs. Coinbase

In the latest episode of “Coffee and Crypto,” Cointelegraph’s head of editorial Olivia Capozzalo and head of news Molly Jane Zuckerman have discussed the biggest headlines in the crypto world — armed with steaming cappuccinos. The cappucci-news In the video, Capozzalo and Zuckerman have a packed agenda. First, they make sense of the news that the United States Federal Reserve has started developing a 24/7 system for real-time payments — sparking endless questions and comparisons to Bitcoin (BTC) and Ripple’s XRP. Zuckerman says: “I hear the words ‘real-time payment and…

Coinbase Must Face Negligence Suit Over Bitcoin Cash Launch, Judge Rules

Coinbase must face a negligence lawsuit from customers who bought bitcoin cash (BCH) following its allegedly botched listing on the exchange during the 2017 bull market, a judge has ruled. U.S. District Judge Vince Chhabaria of the Northern District of California dismissed the plaintiffs’ fraud and unfair competition claims against Coinbase, and the negligence claims brought by the ones who sold BCH. But he denied Coinbase’s motions to move the case to arbitration and to dismiss the buyers’ negligence claims, saying it is “plausible” that the company “breached its duty to maintain a functional…

Judge Rules Coinbase Did Not Commit Fraud in Bitcoin Cash Lawsuit

Cryptocurrency exchange Coinbase did not act fraudulently during its botched launch of Bitcoin Cash (BCH), a United States judge has ruled. Coinbase accused of insider trading BCH listing In a court order issued on Aug. 6, U.S. District Judge Vince Chhabria of the Northern District of California (San Francisco) threw out claims by traders that Coinbase committed fraud by halting trading after two minutes.  The move is the latest in a protracted lawsuit brought by trader Jeffery Berk over the events, which occurred in December 2017. At the time, BCH…

Buying Crypto on Credit Not Necessarily a Cash Advance

Southern District of New York Judge Katherine Polk Failla has ruled that purchasing cryptocurrency with a Chase Bank credit card does not necessarily count as a cash advance, as per Chase’s contract. According to an opinion and order document dated August 1, Judge Failla has denied Chase’s motion to dismiss a number of the plaintiff’s complaints, which center on the bank charging a user cash advance fees for buying cryptocurrency with a Chase credit card. The plaintiffs are Brady Tucker, Ryan Hilton, and Stanton Smith, who have brought a class…

Square Doubles Bitcoin Revenue, Generating $125 Million via Cash App in Q2

Payments company Square has generated $125 million in Bitcoin (BTC) revenue in the second quarter of 2019 through its mobile payments service Cash App. Square released the information in the company’s Q2 2019 shareholder letter on August 1. According to the letter, the company’s Bitcoin revenue benefited in part from the number one  cryptocurrency’s price rally over the quarter. As a result of this price growth, there was also a correspondingly increased volume of Bitcoin, they say. This resulted in a $2 million gross profit for the company. Cash App…

Bitcoin-Friendly Square Cash App Stock Price up 56% in 2019

Cash App, the payments app of San Francisco-based company Square, announced a Bitcoin (BTC) giveaway in a tweet published on July 26 as its stock price continues to grow, according to MarketWatch. Giving away Bitcoin In its tweets, the official Cash App Twitter account announced that it will give away $50,000 in Bitcoin. In subsequent tweets, Cashapp also pointed out that the number of tweets grew first to 12,300, and then to 40,300.   As Cointelegraph reported at the end of June, Square already enabled Bitcoin deposits to all of…

Australian Draft Bill Excludes Digital Currency From New Cash Payment Limit

Australia’s government has delivered supportive statements on cryptocurrency as it looks to exclude the sector from new restrictions on cash payments. In an explanatory memorandum issued late last week, the country’s Treasury said it wished to ban cash payments for goods and services which exceeded 10,000 AUD ($6,900). However, a number of exclusions would apply, including transactions involving what it describes as digital currencies. The reason, lawmakers state, is in order to prevent the disappearance of such currencies from the local economy, which in turn would lead to a block…

Cash, Card or Crypto? — Platform Helps Stores Accept Digital Payments

A mobile crypto payment platform says its technology is transforming the retail business — and giving merchants an unprecedented opportunity to accept digital currencies as a method of payment. Eligma says Elipay, its flagship product, removes the hurdles that have been stopping brick-and-mortar stores from embracing cryptocurrencies. All too often, independent retailers have been dissuaded from accepting the likes of Bitcoin because it would take too much technical know-how. Volatility has been another concern, with small shops fearful that sudden price fluctuations could erase their razor-thin profit margins. However, the…

Ethereum (ETH) in Free Fall, Down 34% Following Bitcoin Cash Idea

Ethereum (ETH) slides 34 percent as bears step up Bitcoin Cash may be used to temporarily solve Ethereum’s scalability problems Vitalik has an audacious plan of integrating Ethereum with Bitcoin Cash before ETH 2.0 full activation. However, there is resistance from some quarters with a majority against his idea. In the meantime, bears are in full throttle as ETH slumps 34 percent from last week’s close. Ethereum Price Analysis Fundamentals Regardless of how Ethereum supporters try to scrutinize the platform’s performance, everything will boil down to scalability. Striking a perfect…