BitDigest May 14 · Issue #658
- Bitcoin leads an overnight jump in digital currency prices and is close to re-testing $10,000 levels
- The PBoC is urging the country’s blockchain companies to accelerate development of its national blockchain
- Chinese court contradicts recent ruling by saying bitcoin is a virtual currency (instead of a digital asset)
Weekly Stock Review
- Galaxy Digital (TSX:GLXY.V) announced it has been conditionally approved to be listed on the Toronto Stock Exchange (“TSX”)
- The Bitcoin Fund (TSX: QBTC-U.TO) saw a slight decline in price (1.9%) week-over-week but average daily volumes increased 90% ahead of the Halving
- Hive Blockchain (TSXV: HIVE.V) initiated operation of 750 new Bitmain Antminer S17+ rigs at its new Quebec facility. Daily volume declined 19% this week.
- Riot Blockchain (NASDAQ: RIOT) reported Q1’20 financial results with a year-over-year increase in total mining revenue and improvement to net income of 68% to $2.4 million and negative $4.3 respectively.
- Hut 8 (TSX: HUT) reported a 5% increase in first quarter revenue ($12.7 million) that was heavily impacted by the March bitcoin sell-off. Adjusted EBITDA improved 56% to negative $558k.
- Reality Shares NexGen Economy ETF (NASDAQ: BLCN) average trading volume increased 19% on the week.
Crypto Education for Work from Home Times
I want to highlight some information in the Headlines section below.
Last November, Andressen Horowitz announced it was opening a Crypto Startup School to help accelerate and develop blockchain and digital currency projects. The leading venture firm selected a handful of companies and began the first cohort in February. The decision was subsequently made to open the program up to anyone by publishing the course contents online and the first two videos have been released. More importantly, it’s free.
The Headlines
PBoC Committed to Meeting Blockchain Implementation Deadline
Court Says Bitcoin Cannot Be Protected by Chinese Law
New Zealand Raises Awareness of Crypto Scams
Venezuela Mines New Genesis Block
China Officially Recognizes Blockchain Professions
Standard Chartered Announces Completion of Yuan-Based Letter of Credit
a16z Releases Crypto School Videos
Reddit Introduces Community Token Rewards
Flipside Crypto and Prysm Introduce Real-Time Economic Analytics for Crypto Projects
Market Data
Bitcoin Hashrate Experiences Sudden Drop Post Halving
New Bitcoin Mining Pool Appears
Less Than 1% of FinCEN's Suspicious Activity Reports Mentioned Crypto
Blockchain Market to Reach $21 billion by 2025
Reports you may have missed
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Tornado Cash Developer Sentenced to 5 Years in Prison, LayerZero Succeeding Against Sybils
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