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Did You Own Bitcoin Before The 2018 Crash? This Bitter Group of Crypto Plaintiffs Think You May Be Entitled to $1.4 Trillion in Damages

October 8, 2019
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A group of plaintiffs whose Bitcoins suffered the great crypto crash of 2018, have a rough idea of how much damage was caused ($1.4 trillion) and who exactly was damaged, everyone. The alleged culprit is Tether, a little understood company that’s supposed to issue fully-backed digital US dollars to make trading in the crypto marketplace […]

Interest in State-Backed Digital Currencies Rising

October 4, 2019
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This week, two House Representatives presented Federal Reserve Chairman Jerome Powell with a letter calling for the Fed to seriously consider the creation of a digital currency. Beginning their letter with, “As you are aware, the nature of money is changing,” French Hill (R-AR) and Bill Foster (D-IL) run through a brief history of money […]

Coinbase Begins Paying Interest Rewards On Crypto Holdings

October 2, 2019
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Bitcoin’s price might not be all that right now, but Coinbase, a US-based digital currency wallet, wants to pay its customers a reward for holding on to its stablecoin. Unlike Tether, a popular stablecoin that was purportedly fully backed by US dollars but then revealed it wasn’t, Coinbase’s stablecoin is fully backed by dollars on […]

UnTethered: How The Entire Crypto Bull Run of 2017 May Have Been a Mirage (And Why Its Resurgence May Be Too)

June 24, 2019
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This story appeared in deBanked’s May/June 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE In 2017, college bros gathered at a bar in downtown Manhattan. As a journalist from deBanked approaches, a 5’10” young 20-something with long shaggy brown hair is vaping outside on the sidewalk while staring intently at his phone. I […]

Excited About Bitcoin’s Sudden Price Surge? Not So Fast

May 23, 2019
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bitcoin devil

Philip Potter was a young banker that was moving up in the world. At 25-years-old, the Yale graduate made over six figures, worked for Morgan Stanley, and looked the part. He wore a $3,500 Rolex Watch, an $800 custom-made suit, and $200 shoes, all while carrying an $800 cellular telephone. It was 1997, a year […]

Signature Bank Partners with trueDigital

December 4, 2018
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Today, Signature Bank unveiled a proprietary digital payments platform for its commercial clients, according to a statement released by the bank. The platform, called Signet, is designed to allow Signature Bank’s commercial clients to make real-time payments in U.S. dollars, every hour of the year. “The ability to transmit funds between approved, fully vetted commercial […]

Bitcoin Continues to Drop Following Report That Goldman Scrapped Plan for Crypto Trading Desk

September 6, 2018
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bitcoin blues

Bitcoin fell about five percent yesterday to below $7,000 after Business Insider published a story saying that Goldman Sachs is dropping its plan to open a trading desk dedicated to cryptocurrencies. The Business Insider story made this claim anonymously, citing people familiar with matter.   Update: Goldman Sachs CFO Martin Chavez discounted the Business Insider report […]

Square Funded $339M to SMBs in Q1

May 2, 2018
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Outside the Square Headquarters in San Francisco

Above: Outside the Square headquarters in San Francisco, CA Square’s small business funding arm, Square Capital, made over 50,000 business loans for a total of $339 million in Q1, according to the company’s latest earnings report. That figure is a 35% increase year-over-year and puts them on pace to break last year’s $1.177B total. OnDeck, […]

Twitter Bans Crypto Ads As Its CEO Praises Bitcoin

March 28, 2018
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cryptocurrency ban

Following in the footsteps of Facebook and Google, Twitter banned cryptocurrency ads on its platform as of Tuesday. Facebook initiated this policy on January 30 and Google did the same on March 14. “Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally,” a Twitter spokesperson told […]

Facebook Bans Crypto Ads. Is it The Right Move?

January 31, 2018
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Facebook announced yesterday that it had banned all ads promoting Bitcoin or anything related to cryptocurrencies. The new item on the Prohibited Content list for Facebook ads reads: “Ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency.” […]

What’s Lending Got to do With Cryptocurrency?

January 10, 2018
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crypto trading

Facebook and Snapchat might be the last things that employees are being distracted by these days. Instead it’s Coinbase and Blockfolio, two cryptocurrency apps, that are quickly stealing the attention of young finance professionals. And the interest in Bitcoin, Ethereum and alt coins is causing some in the industry to wonder if the phenomenon can […]

How I Failed to Become a Bitcoin Millionaire

December 18, 2017
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bitcoin blues

This story appeared in deBanked’s Nov/Dec 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE This past Fall, an industry colleague congratulated me on my newfound wealth. “What newfound wealth?” I reply. “What are you talking about?” “Aren’t you a bitcoin millionaire now?” he says, smiling brightly, with a look in my direction that […]

Get $10 Worth of Bitcoin FREE

November 28, 2017
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Ok, so this is a shameless affiliate marketing offer. If you buy $100 worth of Bitcoin from Coinbase using this link, you’ll not only get an extra $10 worth of Bitcoin free, but I’ll get $10 worth of free Bitcoins as well. While it’s awesome that a single Bitcoin is worth $10,000 these days, I […]

After Fork, Coinbase Has Change of Heart on Bitcoin Cash

August 6, 2017
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Zcash bitcoin

Now that Bitcoin Cash has forked off of Bitcoin, Coinbase is no longer taking a hard line stance against the alt currency. In a new email they sent to account holders, they cite security of the network, customer demand, trading volumes, and regulatory considerations as the reasons they have decided to support Bitcoin Cash by […]

A Bitcoin Hard Fork is Coming and Creating New Money With It

July 30, 2017
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On August 1st, Bitcoin will fork into two different currencies. That’s because a significant group of developers and miners believe that the Bitcoin protocol needs an upgrade in order to scale. Not everyone agrees so the chain is splitting in two. Since a split chain will share the same history, anyone who owns Bitcoin on […]

Bitcoin: The Sky’s the Limit?

May 26, 2017
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Investors, merchants and miners all watched as bitcoin’s price ran up knocking on the door of the $2,800 level. The digital currency has climbed nearly 50 percent in the past week and by triple digits in 2017, evoking emotions ranging from euphoria to fear that a bubble is among us. And while the price has […]

Bitcoin-based P2P Lending Platform BitLendingClub Shuts Down

December 2, 2016
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Zcash bitcoin

BitLendingClub (not to be confused with Lending Club) has shut down their bitcoin-based p2p lending platform, citing regulatory pressure. A message posted on their website says, “over the last year or so, the regulatory pressures has been increasing to the point that it is no longer feasible to maintain the operation of the platform. We […]

“Bitcoin Lending As a Concept Has Problems”

March 4, 2016
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deBanked spoke to researcher Brett Scott on bitcoin lending and its challenges

Is Zcash Bitcoin 2.0?

February 9, 2016
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Zcash bitcoin

It’s like Bitcoin but with more anonymity. It’s also known as Zcash Touted as an alternative to BitCoin, Zcash is another decentralized and open source cryptocurrency and its major sell is encrypted anonymity and privacy. The currency was first proposed in an academic paper in 2014 by researchers from Johns Hopkins University, Massachusetts Institute of […]

The Bitcoin Mining IPO Didn’t Go So Well

February 3, 2016
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Bitcoin Mining

Much ado about nothing? Despite the long drawn endeavor, the world’s first bitcoin mining IPO was lackluster. Australia’s The Bitcoin Group, a bitcoin mining company raised $4.2 million (5.9 million Australian dollars) falling short of the targeted $14 million (20 million Australian dollars) The Melbourne-based company was founded in September 2014 with plans to pursue […]