Tag: Cash

Upgrade to Bring Bitcoin Cash Smart Contracts, Ted Cruz on BTC, Global De-Dollarization Efforts — Week in Review – The Weekly Bitcoin News

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Software developer Jason Dreyzehner says smart contracts “comparable to Ethereum,” but remarkably more efficient will be made possible by the May 15 upgrade coming to the Bitcoin Cash network. In other news, the world’s largest regional organization, the Shanghai Cooperation Organization (SCO) plans to switch to settlements in national currencies, moving away from the U.S. dollar. This and more, just below, in the latest Bitcoin.com News Week in Review. Bitcoin Cash Smart Contracts ‘Comparable to Those on Ethereum’ Possible via May Upgrade, ‘1000x Efficiency Advantage’: Dev Jason Dreyzehner Pro-freedom technologies…

Attacker behind AnubisDAO rug pull transfers another $5.9m to Tornado Cash

An address linked to the 2021 AnubisDAO rug pull has reportedly moved another 3,000 ethereum (ETH) valued at about $5.9m via Tornado Cash, a token mixer. AubisDAO attacker moving funds to Tornado Cash According to a May 6 alert from blockchain security firm Certik, an address linked to the AnubisDAO rug pull deposited 3,000 ETH into the sanctioned crypto tumbler Tornado Cash, almost a year after it laundered 1,018 ETH, then valued at $1.18m, through the same platform. The latest transfer comes barely a month after Peckshield, a blockchain data…

Block’s Cash App Q1 report reveals $2b in BTC revenue

Jack Dorsey’s Block recorded a stunning $2.16 billion in bitcoin (BTC) sales in Q1. The fintech company’s main product, Cash App, generated 25% more bitcoin income yearly. The shareholder letter states that the multi-billion dollar bitcoin revenues were attributed to an increase in the quantity of bitcoin sold to customers” and were “partially offset” by a bitcoin market price reduction compared to the same period in 2022. Block’s 2023 Q1 findings The financial technology company had a 26% year-over-year increase in sales during the first quarter, and it also posted earnings per…

Block Releases Q1 2023 Report Showing Cash App Bitcoin Revenue Rise 18% from Q4 2022 to Over $2B

Block saw increased earnings on several fronts for Q1 2023 due to the success of its other businesses, including Cash App and Square.  Block (NASDAQ: SQ) announced its Q1 2023 earnings report, which showed $2.16 billion in Bitcoin (BTC) revenue realized from its Cash App service. Block reported in a shareholder letter that BTC revenue grew 18% from $1.83 billion in the fourth quarter of 2022. In addition, the Jack Dorsey-founded multinational tech conglomerate also reported that its latest Bitcoin revenue haul was up 25% year-over-year (YoY).  Block Highlights Q1 2023 Performance in Shareholder Letter  For…

Cash App Bitcoin revenue tops $2 billion in the first quarter

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Fintech firm Block, owned by Twitter founder Jack Dorsey, has reported a staggering $2.16 billion in Bitcoin (BTC) revenue on its bellwether product Cash App in Q1. According to a shareholder letter announcing its Q1 2023 earnings, Block (NYSE:SQ) reported that its Bitcoin revenue — which counts BTC revenue as total sales of the cryptocurrency to customers — was up 18% from $1.83 billion in Q4 and 25% from Q1 2022. Our Q1 earnings are now available. $SQ https://t.co/oGcnRuzFb3 — Block Investor Relations (@BlockIR) May 4, 2023 Cash App’s total…

Gary Gensler links crypto with cash in viral 2018 video — Crypto Twitter reacts

The crypto community is calling out the hypocrisy of Gary Gensler, the head of the United States securities regulator, after a 2018 video emerged of him stating that cryptocurrencies are on par with commodities or cash and are not securities. The video came from a “Blockchain and Money” class in the Fall Semester of 2018 taught by Gensler, a former professor at the Massachusetts Institute of Technology (MIT) before he became chair of the Securities and Exchange Commission (SEC). On the topic of initial coin offerings (ICOs), Gensler said that…

Tornado Cash dev Alex Pertsev set to be released from prison under surveillance

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Tornado Cash developer Alex Pertsev is set to be released from jail after spending nearly nine months in prison. Pertsev was arrested in August last year by Dutch authorities on suspicion of being involved in money laundering through the crypto mixing service Tornado Cash. Cointelegraph confirmed the news with the people familiar with the matter, and Pertsev is all set to be back home by April 26, which also happens to be his birthday. The suspended release under surveillance means the jailed Tornado cash developer can Jail can await trial from home.…

How OFAC’s Tornado Cash Sanctions Violate U.S. Citizens’ Constitutional Rights

OFAC’s decision to sanction Tornado Cash is unprecedented, marking the first time that software has been targeted for sanctions. OFAC’s sanctioning authority extends only to persons or property. Yet, Tornado Cash is neither a person nor property: It is owned by nobody, controlled by nobody and functions automatically without human intervention. Source CashcitizensConstitutionalOFACsrightsSanctionsTornadoU.SViolate CryptoX Portal