Canaan Reports $5.6M Loss in Q1 Despite Bitcoin Miner Price Cut

China-based bitcoin miner manufacturer Canaan has reported a net loss of $5.6 million for Q1 2020, even though it had cut down the prices for its hardware by more than half in an effort to sell more machines. In an earnings report released on Friday, the firm said it made $9.4 million in revenue for […]

1300% Increase In BitcoinAbuse Reports in April Led by Sextortion

The number of Bitcoin (BTC) extortion reports filed by the users of BitcoinAbuse.com database increased 1,300% in April, perhaps with scammers taking advantage of the quarantined population. BitcoinAbuse.com allows anyone to report cases of criminals trying to extort Bitcoins from potential victims. Alan Reed told Cointelegraph that he founded the site as a response to […]

WMT Stock Up 1.44% as Walmart Reports Strong Q1 Earnings

Coronavirus has significantly affected Walmart’s net sales and operating results, as the demand for many categories of products has been unprecedented, which led to strong figures.  WMT stock is up. As people are obeying stay-at-home orders to avoid being infected with the novel coronavirus, retailing companies have seen incredible demand for deliveries. A prime example […]

1.4% of FinCEN’s Suspicious Activity Reports Since 2013 Mentioned Crypto

More than 70,000 crypto-related suspicious activity reports (SARs) have been filed since 2013, but the Financial Crimes Enforcement Network (FinCEN) has issued a stark warning that some offshore companies may not be doing enough to stamp out illicit behavior. Speaking at CoinDesk’s Consensus: Distributed virtual conference on Wednesday, FinCEN Director Kenneth Blanco said that around […]

Silvergate Bank Reports 75% Increase in BTC Trading Volume

Bitcoin trading and transaction volumes surged at the pro-crypto Silvergate Bank in the first quarter of 2020. According to an April 29 transcript filed with the U.S. Securities and Exchange Commission (SEC) on its Q1 2020 earnings, Bitcoin (BTC) trading volume on the Silvergate Exchange Network (SEN) grew 75% over the previous quarter. SEN’s BTC […]

US Senator Loeffler Reports 2019 Income of $3.5M From Role as CEO of Bakkt

Per her financial disclosures, filed the evening of May 1 after an extension in January, Loeffler’s assets are significant, as was her income as CEO of Bakkt. The much-awaited financial disclosures While Loeffler initially delayed filing her mandatory financial disclosures when she took office in January, they are now available. According to SEC filings by […]