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Bitcoin News Summary – August 20, 2018

Here’s what happened this week in Bitcoin in 99 seconds.

The popular mining company Bitmain is looking to IPO, forcing it to disclose its financial position. Surprisingly, Bitmain has over 1 million Bitcoin Cash while their Bitcoin holdings are at only 71,560. Analysts say that this outsize Bitcoin Cash position represents a major liability for Bitmain.

The popular Square payment service announced the extension of Bitcoin trading over its Cash App to all American states. Square had an estimated 7 million customers at the start of this year.

Americans may now invest in Bitcoin through exchange-traded notes known as Bitcoin Tracker One. These notes are now available for USD trading on the Nasdaq exchange and offer similar functionality as the much-awaited Bitcoin ETF.

A wealthy crypto investor is suing the AT&T phone company for giving a hacker ownership of his phone number, which led to the theft of $23 million in crypto from his exchange account.

GPU-maker Nvidia saw a 5% drop in its share price as its third-quarter earnings report showed less demand for its hardware among crypto miners. This is probably due to the falling altcoin prices which rely heavily on GPU mining.

And finally, a defendant in California accused of breaching a large gaming network, has been allowed by the US Federal Court to pay his bail fees, a total of $750,000, in the form of Bitcoin or any other kind of cryptocurrency.

That’s what happened this week in Bitcoin. See you next week.

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