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For years now, bitcoiners and cryptocurrency proponents have said the antiquated banking system will not continue to survive for very long and the financial system is showing massive cracks these days. The recent stimulus check fiasco is a prime example of the issue, as customers from PNC, JPMorgan Chase, US
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A chart published by Brian Armstrong, CEO of United States crypto exchange, Coinbase, suggests that a small portion of the American population may be using their coronavirus stimulus checks to purchase cryptocurrency.A tweet, published by Armstrong on April 17, shows that the percentage of deposits and buys worth $1,200 —
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In brief: Evidence points towards US citizens using there $1,200 stimulus checks to buy Bitcoin (BTC). Grayscale Capital’s recent quarterly report provides a clue as to institutional interest in Bitcoin (BTC). The King of Crypto is hovering around $7,200 and looks set to start a climb up to $8,000. For the last 72 hours,
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The U.S. stimulus checks are finally arriving in the bank accounts of those affected by the COVID-19 pandemic. Close to 22 million people have lost jobs in the country over the past month and in an attempt to financially equip them to make it through the current troubled times, the
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Square, a mobile payments platform, recently announced the addition of a new feature that would enable users to deposit their COVID-19 stimulus payment to its bitcoin-friendly Cash App. Square’s Cash App Now Allows COVID-19 Stimulus Package Deposits According to a blog post, Square’s Cash App announced that users eligible for the
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Square’s Cash App is allowing U.S. citizens and residents who don’t usually file a tax return to direct forthcoming government stimulus payments to the mobile payments application.The move comes after the company failed to convince the United States Treasury to let it distribute the stimulus funds to segments of
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Bitcoin (BTC) price is continuing to move higher on March 25 alongside U.S. equities markets, which yesterday saw a historic 11%+ rise on news of a potential multi-trillion-dollar economic stimulus package. This was the single biggest daily rally since 1933. At press time, BTC price is attempting to establishing a
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Amid contentious debate over the massive stimulus package in response to the coronavirus pandemic, Democrats in the United States House of Representatives look to implement the digital dollar to streamline payments to U.S. citizens outside of the traditional financial system.A digital dollar for direct payments to families A draft of
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Bitcoin’s recovery from last week's catastrophic drop to $3,700 continued on Tuesday as the digital asset briefly topped $5,500 before pulling back below $5,400. The improvement in the crypto market’s price action appears to have received a boost from today’s White House press conference which saw the U.S. Treasury
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On Sunday, the U.S. Federal Reserve slashed the benchmark short-term rate by 100 basis points bringing it to zero. In addition to
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