Bitwage and Gemini Partner to Launch Bitcoin-Based Retirement Plan for Employees

Cryptocurrency payroll service Bitwage has announced the launch of a Bitcoin 401 (k) plan, allowing companies to give their employees a BTC-based retirement plan. In a press statement, Bitwage, which claims to have tested the product on its own employees for 10 months, said workers now have the ability to invest their pre-tax and post-tax dollars in BTC, through their employer. A 401(k) is a retirement plan that allows employees of a company to save and invest for retirement on a tax deferred basis. Under the plan, companies can match…

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Bull Run Imminent? Hodl Waves Chart Shows 60% of Bitcoin Hasn’t Moved in a Year

According to the creator of the analytical bitcoin data web portal, Look Into Bitcoin, a chart often referred to as ‘Hodl Waves’ shows a bull run could be imminent. The web portal’s analyst Phillip Swift recently tweeted that 60% of all the bitcoin in circulation hasn’t moved in twelve months. The last time this trend took place was in 2016, months before the start of the 2017 crypto bull run. 60% of Bitcoin’s Supply Hasn’t Moved in Over a Year Last March, news.Bitcoin.com reported on a research report authored by…

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Bitcoin Risks Turning Bearish Due to Declining Market Health, Says Glassnode

Bitcoin (BTC) risks sliding back into bearish territory should onchain activity and overall market health continue to decline, warns analytics firm Glassnode. The latest market update from Glassnode shows that the GNI index, which measures the overall state of the Bitcoin network, dropped 18% or 13 points week-on-week, to a value of 60 points. Simultaneously, the price of BTC was falling below the psychological $9,000 level, to around $8,700. The index considers metrics such as network health, sentiment, and liquidity to determine the strength of bitcoin’s fundamentals. According to the…

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$9M and Over 4,500 Fusions – Bitcoin Cash Supporters Anticipate the Cashfusion Audit

Since November 28, 2019, the Cashfusion protocol has helped facilitate 4,583 fusions to-date with roughly 40,564 bitcoin cash ($9.1M). Cashfusion is an extension of the Cashshuffle platform and the protocol has been deemed “far more practical than other coinjoin protocols.” Bitcoin Cash proponents are now waiting for the completion of the codebase audit, as the protocol will undergo a security audit from the well known firm Kudelski Security. Cashfusion Protocol Facilitates Over 4,500 Fusions Cashfusion is a popular privacy-enhancing platform that is used for obfuscating bitcoin cash (BCH) transactions. The…

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IMF Predicts Banks Will Struggle at Least 5 More Years After Global Economy Recovers

The International Monetary Fund (IMF) has predicted that banks will struggle to generate profits at least five years after the global economy recovers from the coronavirus-led economic crisis. The IMF explained that banks were struggling even before the covid-19 pandemic so their troubles “will extend to at least 2025, well beyond the immediate effects of the current situation.” Banks to Face at Least 5 More Years of Hardship The IMF expects that banks will continue to struggle to generate earnings after the global economy recovers from the economic crisis. In…

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Swiss Government Rejects $103 Million Bailout for Crypto Companies Battered by Coronavirus

Switzerland’s government has rejected a 100 million franc ($103 million) bailout for local cryptocurrency companies battered by the coronavirus economy, local media reported. Zug finance director Heinz Taennler requested the special funding facilitation in April. He planned to issue out loans to startups, which could be converted into shares. The central government had already unveiled a $158.6 million credit facility for all fintech startups, but Taennler felt that won’t be enough for the cryptocurrency sector’s ambitious financing needs. Zug is the heartbeat of Switzerland’s famed crypto industry, commonly known as…

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Despite Trust Model Debates, Ethereum Is Bitcoin’s Largest Sidechain by Total Value Locked

The Ethereum network now has more bitcoin held in reserves than the Lightning Network, according to onchain statistics. At the time of publication, Wrapped Bitcoin (WBTC) has close to 4,000 BTC ($34.7M) held in reserves, while the Lightning Network has only 925 BTC ($8.3M). Wrapped Bitcoin Project’s Total Value Locked Climbs to 3.9k Bitcoin Just recently a number of people on Twitter congratulated the Ethereum network for becoming Bitcoin’s (BTC) largest second layer or unofficial side-chain. This is because the Total Value Locked (TVL) for BTC-pegged ETH tokens has surpassed…

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BitAmp – The Next New Open Source Wallet

With the recent rise of Bitcoin prices and the Bitcoin halvening, new entrants into the cryptocurrency field may wonder where they can self-custody their Bitcoin in the most secure way. BitAmp’s Emphasis on Privacy and Security The developers behind new entrant Bitamp’s Bitcoin wallet have created an easy-to-use client-side open-source Bitcoin wallet to fill this need. The Bitamp wallet allows users to send and receive Bitcoin from anywhere, on any device. The interface also allows users to create new Bitcoin wallets in an instant by writing down a 12 word…

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RBI Confirms No Ban on Cryptocurrency Exchanges, Businesses or Traders in India

India’s central bank, the Reserve Bank of India (RBI), has confirmed that there is no longer any banking ban on crypto exchanges, companies, or traders. This follows the supreme court decision to quash the RBI circular prohibiting banks from providing services to any customers dealing in cryptocurrencies. The ban lasted for almost two years. RBI Finally Confirms No Banking Ban The Reserve Bank of India has confirmed in response to a Right to Information (RTI) request that there is currently no banking ban on the crypto industry. The RTI query…

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Goldman Sachs Hosting Bitcoin Call as Institutional Interest in Cryptocurrency Surges

As interest in cryptocurrency grows among institutional investors, global investment banks, like Goldman Sachs and JPMorgan Chase, are reexamining their views about bitcoin. Goldman Sachs is hosting a call for its clients to learn about the implications of current policies for bitcoin, gold, and inflation. Goldman Sachs’ Bitcoin Call for Clients New York City-headquartered investment bank Goldman Sachs is hosting a call for clients on May 27 entitled “US Economic Outlook & Implications of Current Policies for Inflation, Gold and Bitcoin.” Goldman Sachs’ Investment Strategy Group, part of the firm’s…

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