The Crypto2Cash Chronicle: More Coinbase controversy, rising mining profits, massive growth by Crypto Facilities, market recovery and mining college students
Here’s what we’re reading in the Crypto2Cash Office on this Wednesday
Coinbase ex-data providers respond to data selling accusations
Chainalasys and Elliptic, two Blockchain analytics firms have both made statements against the selling of data to third parties. This was in response to Coinbase CEO, Christine Sandler who said in an interview, that the controversial new provider Neutrino was acquired after the old one sold user data. While she did not specify which provider she meant, these are the only two in question. Coinbase has since then retrieved the statement made by Sandler and said she ‘misspoke”.
(Source: Coindesk, Cointelegraph)
Bitcoin mining profits rise for first time in over a year
Bitcoin mining profits have risen for the first time since December 2018. However this was only due to average electricity prices being down, miner revenues have actually sunk to a 19-month low. The ongoing bear market continues to threaten the mining industry, with miners only being expected to run profits when running the newest equipment in large scale.
Crypto Facilities notes massive gains
Cryptocurrency futures provider Crypto Facilities has noted a 500% increase in trading, since being acquired by crypto exchange Kraken for around $100 million last month. In total, nearly $1 billion have been traded on the platform over the past month and daily users have gone up by a factor of four.
Crypto markets recover
All top 20 currencies were in the green yesterday, with Bitcoin being up around 3%. Top performer was Litecoin being up by 13% regaining it’s spot as 5th largest cryptocurrency on Coinmarketcap.
(Source: Cryptovest, Cointelegraph)
College students using free electricity to mine crypto
Tech Conglomerate Cisco has published an interesting report monitoring cryptocurrency mining across different industry verticals. Surprisingly college campuses placed second at about 22 percent. Students who don’t need to pay for the electricity in their dorm room leave their computers running during the day and ‘walk out of college with a big chunk of change”.
(Source: PCmag.com)
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