Flexa and Gemini Team Up to Bring Crypto Payments to Whole Foods, Nordstrom and Other Retailers
Customers can now pay with cryptocurrency at Crate and Barrel, Nordstrom, Whole Foods and several other U.S. retailers. More specifically, Bitcoin, Ethereum, Bitcoin Cash and the Gemini Dollar stablecoin are the cryptocurrencies supported by the service.
This has been made possible by an initiative by Gemini and payments startup Flexa, the developers of the SPEDN mobile application. In addition to offering GUSD payments, the partnership between Gemini and Flexa means that cryptocurrency that’s deposited to the SPEDN wallet is custodied by Gemini.
Bakkt Expects to Start Testing Its Bitcoin Futures in July
In a recently published blog post, Bakkt CEO Kelly Loeffler says the company expects to begin testing its Bitcoin futures contracts in July. This “user acceptance testing” phase will be aimed at both Bakkt’s futures contracts and custody services.
Loeffler says the company intends to list two products for trading: a daily Bitcoin futures contract and a monthly Bitcoin futures contract. Bakkt is developing these contracts in collaboration with the ICE Futures US exchange and the ICE Clear US clearinghouse.
Assessing the Health of the Bitcoin Network and the Reasons Behind its Recovery
Canaccord Genuity Group, an independent financial services firm, released a report about the health of the Bitcoin network as of May 2019. The report examined the market by using four fundamental transaction indicators.
Daily estimated USD transaction value, confirmed transactions per day, average transaction size, and a daily number of unique addresses used were the key data points used in the report. Since BTC hitting a bottom in the low $3,000s, all four indicators point to steady recovery over the last couple of months. Furthermore, interest in buying BTC in emerging markets is also growing, mostly because local currencies in countries like Venezuela and Argentina are continuing to lose value compared to the US dollar.
Cryptopia Couldn’t Recover from January Hack, Enters Liquidation
It seems that the security breach that the Cryptopia cryptocurrency exchange suffered in January has caused irrepairable damage to the company. Cryptopia has now updated its website with a statement saying that the company has appointed two liquidators from Grant Thornton New Zealand professional services firm tasked with selling off the company’s remaining assets.
A report published by blockchain analysis firm Elementus shortly after the January hack estimated that $16 million worth of cryptocurrency was stolen from the New Zealand-based exchange.
Poloniex Will Make 9 Cryptocurrencies Unavailable for US Customers Due to Regulatory Uncertainty
Cryptocurrency exchange Poloniex has announced that its markets for Ardor, Bytecoin, Decred, GameCredits, GAS, Lisk, NXT, Omni and Augur will no longer be available to US customers starting with May 29. Poloniex’s functionality for users outside the United States will remain unaffected by this policy. US customers will have to close their trading positions involving these assets before May 29, but they will still be able to withdraw these assets from the exchange after the “geofencing” policy comes into effect.
Poloniex says it has made the decision due to regulatory uncertainty surrounding digital assets in the US. According to the exchange, it can not say with certainty that the previously mentioned cryptocurrencies will not be treated as securities by US regulators.