Blockchain analytics firm CipherTrace released a report this morning showing that roughly $1.7 billion in cryptocurrency was stolen or scammed over the course of 2018. The amount stolen by hackers alone is staggering: over $950 million. The figure represents an increase of more than 300% from 2017. Continue reading Cryptocurrency Thefts and Scams Raked in 300% More Profit Last Year than 2017
Bitpay CCO Sonny Singh has stated that the $20,000 bitcoin price at the back-end of 2017 and the price fluctuations throughout 2018 were a bit of “an anomaly”. He also agrees that bitcoin demand and usage were at a low last year and although crypto volatility has been a continuing trend into the new year, prices could still steadily rise over the course of 2019. Continue reading Bitpay Executive: $20,000 Bitcoin Price in 2017 was an ‘Anomaly’
America’s largest cryptocurrency exchange Coinbase reportedly made $1 billion in revenue in 2017, overshooting its 2017 revenue forecast of $600 mln by 66 percent, Recode reports, citing “industry sources.” According to Recode, despite the peaked interest of outside investors, the company remains private and does not allow stock to be traded on secondary markets.
The platform was swamped by an influx of new users looking to set up trading accounts as Bitcoin entered a massive bull run in November, 2017. Following the announcement of Bitcoin futures launch early that month on CME, Coinbase saw 100,000 new users sign up in just 24 hours.