Bitcoin Daily: Coinbase Bug Gives Out Free Ether, Jack Dorsey Sees Bitcoin As World’s ‘Single Currency’


Bitcoin has moved past the $9,000 mark for the first time in a week, CCN reported. The price of bitcoin was $9,018.25 as of 11:35 p.m.,  according to CoinDesk.

And Twitter co-founder Jack Dorsey thinks that bitcoin will eventually be the world's only currency, CNBC reported. “The world ultimately will have a single currency, the internet will have a single currency,” he said. “I personally believe that it will be bitcoin.”

The reports of carVertical's “partnership” with BMW might be greatly exaggerated, The Next Web reported. While the startup said that it had entered into a partnership to create “first ever connected reports for cars,” BMW is saying that there is, in fact, no formal partnership. The startup is only making use of the auto maker’s CarData interface, which any third party can use.

And Big Blue is helping developers and startups with their distributed ledger projects with a new blockchain product, CNBC reported. In comparison to the public blockchain network, IBM’s offering is “permissioned,” which means that only trusted entities can access it.

Cryptocurrency issuers are taking one of two tactics when dealing with the U.S. Securities and Exchange Commission (SEC)’s plans to regulate the market: falling in line or trying to find ways to get around the tougher guidelines, Reuters reported. Those moves come after the SEC announced earlier this month that there were “potentially unlawful” systems operating that allow the trading of cryptocurrencies, adding that several online trading platforms should be registered with the SEC itself.

In regulatory news, the U.S. Treasury Department revealed it could add cryptocurrency addresses to its list of sanctions if it’s able to link them with people who are blacklisted. First spotted by The Wall Street Journal in documents that were filed with a White House order banning Venezuelan cryptocurrencies, the Treasury Department said it could add the addresses to the sanctions list to keep the public aware.

And Coinbase apparently experienced a big flaw that made it possible to, well, reward oneself with nearly any amount of Ethereum, The Next Web reported. The vulnerability was reportedly in the set-up of smart contracts and was found by VI Company, a Dutch business that reported the issue last year. As a result, the exchange gave the company a $10,000 reward.



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.