Stripe to End Bitcoin Support

Decision is dictated by increased commissions and time of transactions
24 January 2018   1133

Stripe, digital payments solution developer, will abandon bitcoin in April this year. As a reason, Stripe called high volatility and a long time confirmation of transactions. Information about this was posted on the company's blog.

Our hope was that Bitcoin could become a universal, decentralized substrate for online transactions and help our customers enable buyers in places that had less credit card penetration or use cases where credit card fees were prohibitive.

Tom Karlo

Stripe Team

However, over the years of its existence, bitcoin from a payment instrument has turned into an asset and has become unsuitable for making transactions that require a transfer in a short time. Over time, the popularity of bitcoin among Stripe users has dropped significantly.

For a regular Bitcoin transaction, a fee of tens of U.S. dollars is common, making Bitcoin transactions about as expensive as bank wires.

Tom Karlo

Stripe Team

Stripe began to support bitcoin payments in 2014 when the rate of cryptocurrency first reached a mark of $ 1,000 and people began to take it seriously. The company insists that it remains optimistic about the future of the cryptocurrency and calls some of the most promising projects: Lightning, OmiseGO, Ethereum, Bitcoin Cash, Litecoin. In addition, in the future Stripe can add support to Stellar, in the initial phase of funding which she took part. 

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   155

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.