Wednesday, April 24, 2019

BTC Interest Account / Samsung Blockchain / Coinbase Layoffs / Yelp Crypto Selection

Inside Bitcoin. $BTC (1:54 p.m. EST): $5,465.77 (-2.61%) // 90-day high: $5,642.04 // 90-day low: $3,391.02 / / More… $BCH ABC (1:54 p.m. EST): $272.01 (-9.07%) // 90-day high: $342.87// 90-day low: $108.89 // More
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$BTC (1:54 p.m. EST): $5,465.77 (-2.61%) // 90-day high: $5,642.04 // 90-day low: $3,391.02 / / More

$BCH ABC (1:54 p.m. EST): $272.01 (-9.07%) // 90-day high: $342.87// 90-day low: $108.89 // More

$ETH (1:54 p.m. EST): $163.10 (-6.47%) // 90-day high: $184.38 // 90-day low: $133.76 // More

$LTC (1:54 p.m. EST): $71.96 (-7.51%) // 90-day high: $97.50 // 90-day low: $58.33 // More

$XRP (1:55 p.m. EST): $0.29 (-7.76%) // 90-day high: $0.37 // 90-day low: $0.29 // More

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1. BlockFi is now managing $53 million in crypto deposits and has lowered the minimum balance amount required to receive interest payments. BlockFi now allows you to deposit 0.5 bitcoin into an account to receive interest payments. Prior to this participants needed a full bitcoin, now worth $5,600, in order to open a BlockFi account. This move comes following public pressure to make the service more accessible as it expands its service internationally to India. The new rules will take effect May 1. -NEWS BTC

Blockfi lowers minimum amount
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2. Samsung is developing its own blockchain network based on ethereum's protocol and may release a cryptocurrencySamsung joins the fray of large public companies like Facebook and Microsoft who are working on blockchain and cryptocurrency projects. Samsung has a unit that has been actively developing the blockchain for over a year and it will join its line of crypto products that include its Galaxy S10 phone that can store crypto private keys and support blockchain based digital signatures. -COINDESK

Samsung blockchain
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3. Coinbase has shuttered its Chicago office and laid off 30 employees in the process. The exchange opened its Chicago office about a year ago to take advantage of the city's financial expertise as is built out its matching engine aimed at high-frequency traders. High-frequency trading is no longer a priority for Coinbase, which has turned its focus to building out other products for consumers and financial firms. These layoffs come at a time when the price of bitcoin hit its yearly high of $5,600. Coinbase reported revenue of around $520 million last year, below analysts' expectations. -FORTUNE

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4. Yelp now lets you search for and sort merchants according to whether they accept cryptocurrency. Yelp introduced this feature to all 99 million unique mobile visitors, giving users more control over their search options. Should they choose, Yelp can share search volume information with local businesses about potential visitors who search for cryptocurrency accepting venues. If search volume is high in certain areas and a certain business does not accept cryptocurrency, this information shared by Yelp could entice them to adopt cryptocurrency payments. -INVEST IN BLOCKCHAIN 

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5. John McAfee said he would unveil the identity of the creator of bitcoin, Satoshi Nakamoto, only to later back off that statement. -BLOOMBERG

6. Blockstack argues in their SEC filing that their Stax utility token is a non-equity and non-debt security. -@LEX_NODE

7. South Korean hospital Gil Medical Center launched an internal blockchain for a health data management solution. -CRYPTO NINJAS

8. IBM was awarded a patent for mobile data sharing tracked on a blockchain. -COIN TELEGRAPH

9. FinalMessage launched their web-based service to help users pass their bitcoin to trusted parties in the event of unfortunate and unforeseen events. -THE BLOCK

10. Jargon Watch: Earlier this month, we asked all our newsletter writers to write about a buzzword relevant to their readers. We're planning to make this a regular monthly feature and we're calling it JargonWatch (as a tribute to the WIRED feature). Our writers rose to the occasion with some fascinating inside info. Here are the top 10 in no particular order:

If you have suggestions for future installments of JargonWatch, hit reply to this email and let us know. And look for next month's installment across Inside newsletters next Wednesday.

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Written and curated by Darren Webb. He created Currencylists and has worked in marketing roles for a multitude of cryptocurrency and blockchain projects since 2014. Based in NYC, Darren loves to read and continue to learn about cryptocurrency and emerging technology in his spare time. You can find him on Twitter @Dwebbny.

Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside); Susmita Baral (senior editor at Inside, who runs the biggest mac and cheese account on Instagram); and David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

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