• Grayscale Bitcoin Trust buyback
    Bitcoin

    Grayscale Bitcoin Trust suspends new investments on heels of buyback

    With its stock trading as much as 15% below the value of its Bitcoins, the company already announced a $250 million share buyback this morning

    Stock buyback plans are often used on Wall Street to shore up the price of ailing stocks or bump strong ones even higher. By decreasing the number of shares available, the theory goes, the stock price will go up. It often works. Grayscale’s shares have been ailing recently, as Canada approved a pair of Bitcoin exchange traded funds—the first in North America. The first ETF, Purpose Bitcoin ETF, roared to life with more than $500 million invested in just the first few days.

  • DMG energy export license
    Bitcoin,  Technology

    U.S. grants energy export license to crypto mining firm DMG

    The license from the Department of Energy will allow the Canadian firm to mine crypto more profitably, cut into China’s mining dominance

    According to an announcement, DMG Blockchain Solutions will leverage the license to acquire the cheapest electrical energy from within the U.S. and Canada to power its mining and computing efforts.

  • Bitcoin goes mainstream
    Bitcoin,  Ethereum

    A big August for crypto

    Big news about mainstream institutional investors pouring money into bitcoin and ether has industry insiders excited about crypto’s move towards the mainstream

    The big news, needless to say, was business intelligence firm MicroStrategy’s Aug. 11 announcement that it had bought $250 million worth of bitcoins, pouring the entirety of its planned investment in alternative assets as an inflation hedge into the first cryptocurrency.

  • CBInsights funding crypto blockchain fell 30%
    Cryptocurrencies,  Technology

    Funding for crypto and blockchain projects fell 30% last year, report finds

    It isn’t all bad news, according to CBInsights. Projects haven’t dried up entirely, it’s just that each of them is receiving less financing on average

    The CBInsights’ Blockchain Report 2020 reveals that, despite the substantial decline in funding dollars, the number of deals backed by venture capital firms was relatively steady—falling just 2% year on year. To cut a long story short, projects haven’t dried up entirely… it’s just that each of them is receiving less financing on average.