BTC Sales Thru Cash App to Rise by 245% in a Year

Cash app is developed by the Square Inc, run by the Twitter creator; it allows you to send money and trade Bitcoin
07 November 2019   453

In the third quarter, Square’s Bitcoin sales through Square’s Cash App reached a record $ 148 million. This is 245% more than a year earlier and 20% higher than the second quarter.

In a letter to investors, the company noted that the number of Bitcoin buyers "doubled for the first time."

The profit remained at the level of the second quarter - $ 2 million, and the total revenue from the Cash App in the quarter - $ 307 million.

PBoC to Continue Anti-Crypto Propaganda

The regulator published a warning in its WeChat account called “Protection of the rights and interests of consumers of financial services”
23 March 2020   299

The People's Bank of China has returned to criticism of cryptocurrencies amid a worsening economic situation in the world.

On March 22, the regulator published a large-scale warning in its WeChat account under the heading “Protection of the rights and interests of consumers of financial services”. It describes three ways in which cryptocurrency service providers can mislead consumers.

First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas crypto currency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.

 

People's Bank of China

In addition, the Chinese Central Bank calls the opinion that Bitcoin may serve as a protective asset, erroneous. The regulator indicates its high volatility and recommends that citizens not follow the example of other investors and refuse to participate in cryptocurrency trading.