Bitcoin Daily: Fantasy Sports League Plans $100M ICO, Square Cash Extends Bitcoin Trading To 50 States

Bitcoin Daily

Bitcoin hit its lowest pricing level since the end of June, MarketWatch reported, dipping below the $6,000 level on Tuesday (Aug. 14). Other cryptocurrencies, too, declined in value. Ether, for example, dropped by more than 9 percent. The price of bitcoin was $6,241.95 and the price of Ether was $283.52 as of 8:13 p.m. on Tuesday, according to CoinDesk.

Money app Square Cash has expanded its bitcoin trade offering to cover the entire United States, Cryptovest reported. “Red, white, and bitcoin,” the company said in a tweet. “Now you can use Cash App to buy bitcoin in all 50 states.” Previously, only Square Cash customers in certain states could trade bitcoin.

Twitter's algorithm is apparently suggesting scambot accounts to its users, The Next Web said. Troy Mursch, a security researcher, found that the platform was recommending an account that was made to look like it belonged to Elon Musk.

Jamaica Stock Exchange (JSE) is planning to roll out crypto trading, Cryptovest reported. To that end, the exchange is working with Blockstation, a FinTech firm based in Canada. The firm will reportedly provide a management system and a network for communication.

The U.S. Securities and Exchange Commission (SEC) has obtained “permanent officer-and-director and penny stock bars” against the individual behind a company that allegedly conducted a fraudulent initial coin offering (ICO), the agency said in a statement. The agency claims the company suggested that it had leases for oil drilling sites that it allegedly did not have, and had marketing materials that showed oil production projections that didn't match with its own internal analysis.

Blockchain fantasy sports startup The Crown League is seeking $100 million to build a new league for fantasy football, according to CoinDesk. The company wants to create a league that fans will own through digital tokens. Professional game managers and staff will run the teams, while those who own the coins can help influence a team’s decisions.

Venezuelan President Nicolás Maduro plans to institute a second official currency the Petro digital token, The Next Web reported. President Maduro said on television that the coin will “be a second accounting unit of the Republic and will begin operations as a mandatory accounting unit of our PDVSA [state-owned energy company] oil industry.”



The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.