Bitcoin Daily: Bitcoin’s Continued Nosedive; Coincheck’s Reimbursement Plan


As regulators crack down on cryptocurrency exchanges, bitcoin slid again on Thursday (March 8) by 7 percent over a 24-hour period. Following a high earlier in the week, the cryptocurrency has tumbled more than 15 percent, CNBC reported. The popular virtual currency was trading at $9,336.92 as of 8:19 P.M., according to CoinDesk. That was down from a weekly high of $11,624 on Monday (March 5). And, on Wednesday (March 7), the currency fell below the $10,000 level.

And the Winklevoss Twins want their customers to be able to trade more crypto on their exchange, Bloomberg reported. Their number one goal for their Gemini Exchange this year is to look to offering other coins on their platform such as Litecoin or Bitcoin Cash.

In Japan, Coincheck said it plans to start reimbursing customers that lost their crypto in a January hack, Coindesk reported. The exchange plans to refund beginning customers next week – and plans to allow trading on its platform for some digital currencies then as well.

And while cryptocurrency regulations are still on the way, one commissioner at the U.S. Commodity Futures Trading Commission (CFTC) says it’s not too early to self-regulate, Coindesk reported. “I believe that a private cryptocurrency oversight body could bridge the gap between the status quo and future government regulatory action," Brian Quintenz said at an event, according to Coindesk.

In South Korea, Bithumb plans to deploy bitcoin ATMs and kiosks, Finance Magnates reported. To bring the kiosks to fruition, the company worked with Uno Space, TROS Systems, and IYU. All three firms specialize in kiosks for small businesses.

And a credit card may someday offer rewards in crypto, Marketwatch reported. An entrepreneur from California said that he plans to create a card called Blockrize that would offer rewards in bitcoin or ethereum in lieu of travel or cash rewards. Users of the card would receive 1 percent of their purchases back in digital coins.



The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.