| November 8, 2019 | View in browser |
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Go Pro. This week, our pro newsletter dove into why bitcoin miners are forced to heavily rely on block rewards, how the 2017 bull run might be tied to a single whale, and the current status of the lawsuit between Craig Wright and Ira Kleiman.
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This week in a nutshell
- The China National Development and Reform Commission (CNDRC) has changed its stance on banning digital currency mining activities in the updated version of China’s Catalog for Guiding Industry Restructuring. Initially, the CNDRC proposed that bitcoin and other virtual currency mining industries be eliminated.
- According to research conducted by TheBlocks Larry Cermak, cryptocurrency exchanges are experiencing a 37% drop in website traffic since June.
- Coinbase is now offering staking rewards for Tezos (XTZ). Coinbase users now earn interest for every XTZ they hold on the platform with an annual return of around 5%.
- Square’s Cash App—which use to bake trading fees into their spread—now charges a standalone fee of 1.76% on Bitcoin purchases and sales.
- According to BlockBeats, Zuoxing Yang, a former Bitmain employee and founder of the mining hardware manufacturer MicroBT, has been taken away by police to assist in an investigation. BlockBeats believes the investigation may be related to a dispute over the intellectual property rights of Bitmain.
- Micree Zhan, the former co-founder, executive director, and legal representative of Bitmain says that he was “removed from his roles without consent and that he will take back control of the company through legal channels.”
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