Bitcoin mining firm Core Scientific is going public via SPAC in a $4.3 billion deal

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• The US has been sweeping up shares of the bitcoin hashrate as miners exit China Bitcoin mining uses vast amounts of electricity Olga Maltseva/Getty Images The US's share of the total bitcoin hashrate increased from 4.6% to 16.8% from September 2019 to April 2021. During the same time period, China's share of the hashrate declined from 75.5% to 46%, before mining restrictions were even imposed. Data show the ongoing migration of bitcoin mining out of China. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. New data from the Cambridge Centre…
• Bitcoin DeFi is on the rise as Jack Dorsey's Square muscles into territory long held by ethereum Jack Dorsey in 2017. Rolf Vennenbernd/picture alliance via Getty Images Square CEO Jack Dorsey earlier this week announced his payments company was building a new DeFi business on bitcoin. Bitcoin DeFi is rising, albeit slowly, and could see significant gains from Square's entry into the space. So far, DeFi services have largely been built on ethereum. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Square CEO Jack Dorsey earlier this week announced his payments company…
• Dogecoin trading volumes shot up 1,250% in the 2nd quarter to almost $1 billion a day as big exchanges cashed in Dogecoin is a cryptocurrency based on the Doge meme. Yuriko Nakao/Getty Images Dogecoin trading volumes shot up 1,250% to close to $1 billion in the second quarter, data shows. Overall global trading volumes rose 32% to $18.82 billion a day on average amid volatile markets. High volatility benefits exchanges but there are signs that the crypto crash is weighing on volumes. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Dogecoin trading volumes soared 1,250% in…
• Ark Invest's Cathie Wood defends bitcoin as an inflation hedge in crypto panel with Elon Musk Cathie Wood Cindy Ord/ Getty Images Cathie Wood defended bitcoin's role as an inflation hedge during a panel with Jack Dorsey and Elon Musk. The Ark Invest founder and CEO said bitcoin will serve as an inflation hedge in emerging market countries. She said citizens in emerging markets with "significant inflation" will migrate to bitcoin and other means to preserve their purchasing power. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Ark Invest founder and…
• Cryptocurrencies are taking the developing world by storm, with more users now in Nigeria than in the US - 2 experts lay out how bitcoin is changing emerging-market finance Globe Robert Alexander Insider spoke to James Butterfill from CoinShares and Marius Reitz from Luno in Africa about bitcoin in the developing world. El Salvador recently made bitcoin legal tender and other governments may follow suit. Cryptocurrencies can bring finance to the "unbanked" and help counter volatile domestic currencies, the two experts said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Cryptocurrencies have made it into the mainstream this year, with crypto-backed bank cards, investment…
• 'I might pump but I don't dump': Elon Musk outlined his broad approach crypto investing in a panel also featuring Cathie Wood and Jack Dorsey Elon Musk REUTERS/Mike Blake Elon Musk on Wednesday said he is a supporter of bitcoin and wants to see the cryptocurrency succeed. "If the price of bitcoin goes down, I lose money. I might pump but I don't dump," Musk said during "The B Word" event. Musk spoke on the panel alongside Twitter chief Jack Dorsey and Ark Invest CEO Cathie Wood. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Elon Musk on Wednesday detailed…
• QuickBooks introduces a new point-of-sale solution Intuit's QuickBooks launched a new portable pont-of-sale solution to accept in-store transactions. QuickBooks Card Reader lets small businesses accept contactless payments and chip cards. Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Payments & Commerce industry. Learn more about becoming a client. The news: Intuit's QuickBooks launched new portable point-of-sale (POS) hardware, QuickBooks Card Reader, that lets small businesses accept contactless payments and chip cards. The hardware integrates with QuickBooks Payments to enable automatic transaction reconciliation and…
• Bitcoin slides below $30,000 as fears mount over surging COVID-19 cases - and now trades 55% below its record high STR/NurPhoto via Getty Images Bitcoin dropped below $30,000 for the first time since June 22 on Tuesday. As global markets were shaken by the spread of the Delta variant, other digital assets tumbled too. Cryptocurrencies have been trading lower since China banned the use of digital assets as currency. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Bitcoin slid below $30,000 on Tuesday for the first time in about a month as rising fears of…
• Bitcoin edges lower for its worst weekly performance in over a month as as cryptocurrencies struggle to recover from heavy sell-off Representations of virtual currency bitcoin are placed on US dollar banknotes taken May 26, 2020. REUTERS/Dado Ruvic Bitcoin edged lower Friday to its worst weekly performance in more than a month, nearing $30,000. Other major cryptocurrencies are also trading lower. A myriad of headwinds have battered crypto, from Fed Chair Powell's comments on regulation to Binance's ongoing scrutiny. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Bitcoin slipped Friday to clock its worst weekly performance…
• Ethereum's co-founder says he's done with crypto because it's too risky - and only represents a small bit of what the world needs Anthony Di Iorio, co-founder of ethereum. Decentral Ethereum co-founder Anthony Di Iorio told Bloomberg he's quitting the crypto world. "I don't feel necessarily safe in this space," he said. The Canadian investor wants to sell his current venture Decentral for fiat money rather than crypto. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Anthony Di Iorio, a co-founder of the ethereum blockchain, is wrapping up his time in the cryptocurrency world due to personal safety…