News of the Week

85% of All Bitcoin Have Been Mined

Despite the fact that Bitcoin is 50% down from its all-time high of $20,000, it has continued to set milestones. The number of Bitcoin that has been mined has officially surmounted 17,850,000. This means that 85% of BTC’s 21 million supply cap has been spent. Unless a hard fork takes place, the number of BTC in circulation will never surmount 21 million.

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Twitter Founder Jack Dorsey Says ‘We Love You Bitcoin’

Jack Dorsey — founder of social media giant Twitter and Bitcoin (BTC)-supporting payments provider Square — has said: “We love you Bitcoin.” In his remarks, Dorsey noted that the Cash App ecosystem continued to grow, generating $135 million in revenue — excluding Bitcoin. As reported just yesterday, Square’s latest shareholder letter has revealed that Cash App had raised $135 million in subscription, services and transaction-based revenue — and that separately, Bitcoin revenue alone accounted for $125 million.

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Coders Are Trying to Connect Bitcoin’s Lightning Network to Ethereum

While Bitcoin and Ethereum enthusiasts might not always get along, one enterprising gaming startup is attempting to bring the two cryptocurrencies closer together. Blockade Games announced on July 31 that it has successfully bridged the two networks by sending a bitcoin lightning transaction in such a way that it can cause an ethereum smart contract to run.

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Why the First Physical Bitcoin Futures Haven’t Launched

LedgerX admitted Thursday it has not launched bitcoin futures, as the firm had previously claimed after the U.S. Commodity Futures Trading Commission (CFTC) said it had not approved the exchange to do so. The company previously told CoinDesk it was planning to launch the product on Wednesday. LedgerX would have been the first venue in the U.S. to offer physically-settled bitcoin futures, which are contracts that payout in the underlying cryptocurrency rather than in cash.

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NBA is Going Crypto, Launching Blockchain Souvenirs from the Author of CryptoKitties

NBA, along with the Players Association, announced the coming launch of NBA Top Shot, a home for blockchain-based digital collectibles. The idea is for fans to buy and trade unique digital video clips that commemorate “in-game moments from the NBA season, such as a Kevin Durant 3-point shot or Joel Embiid dunk,” the NBA says in a press release.

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S7 Airlines Processed Over $1M Via Blockchain Payment Platform in July

S7 Airlines, a member of major global aviation alliance Oneworld, processed over $1 million through its blockchain payment system for the month of July. S7 processed nearly $4 million in payments on its blockchain platform since January 2019. S7 has seen significant growth in transactions on its blockchain-powered sales network developed in partnership with Russia’s largest private bank, Alfa-Bank.

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