Jack Dorsey Alludes to Spending $10,000 a Week on BTC, College Campuses are Major Crypto Miners, and Other News


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Twitter CEO Jack Dorsey Alludes to Spending $10,000 a Week on Bitcoin What is this all about? Jack Dorsey, the CEO of both Twitter and Square, hinted in a podcast interview that he has been spending $10,000 per week on Bitcoin. When talking about the idea of "Stacking Sat Saturday" —  a trend where users buy $25 in BTC every week to both promote and show crypto adoption — Dorsey noted that "[he] saw that [Stacking Sat Saturday] on Twitter […]" What did he say? "I would have participated but I have already exceeded my limit on CashApp. I can't purchase anymore," – he said. Since the maximum weekly buy limit on Square's CashApp is $10,000, Dorsey's statement implies that he spent $10,000 on cryptocurrency, probably Bitcoin, in one week. Dorsey further noted that he will be able to join the Stacking Sat Saturday next week Read more here Research: 'Free' Electricity for Students Makes College Campuses Major Crypto Miners What is this all about? The researchers investigated crypto mining activities across a variety of industries, finding that university campuses are ranked the second-biggest miners of digital currency at 22 percent, with the energy and utilities sector in first at around 34 percent What does it mean? According to the research, the increasing mining difficulty for many cryptocurrency means that a higher amount of electricity is needed, making it profitable for students to mine since the university pays their electricity costs Details here Starbucks Equity Deal Will See Crypto-Based Payments What happened? An unconfirmed report about Starbucks' partnership with United States digital asset platform Bakkt has revealed that the coffee giant will allegedly accept Bitcoin-based payments after an equity deal How would it work? The chain will accept Bitcoin through Bakkt's software, but it will instantly convert the crypto into fiat, so that Starbucks will never actually hold any cryptocurrency Read more here Crypto Lending Company BlockFi Launches Crypto Accounts With Bitcoin, Ethereum Support What happened? BlockFi, a crypto wealth management and lending firm, has launched new cryptocurrency accounts supporting both Ethereum and Bitcoin, with 6 percent annual interest paid monthly in crypto Where are the accounts custodied? The accounts are custodied at the Gemini Trust Company (Gemini  – the custodian of the crypto exchange lead by the Winklevoss Twins), which is regulated by the New York State Department of Financial Services Read more here Coinbase CEO: Ex-Hacking Team Neutrino Members Will Transition out of Company Roles What happened? Co-founder and CEO of major United States crypto exchange and wallet Coinbase, Brian Armstrong, said that all staff at Neutrino with prior connections to controversial software firm Hacking Team, will transition out of their new roles at Coinbase Why did this happen? The major crypto exchange experienced backlash after announcing the acquisition after it came to light that several Neutrino members had worked with Hacking Team, which has been accused of selling tracking software to authoritarian regimes Read more here Prefer video instead of text? Check out our latest Hodler's Digest   Want to change how you receive these emails? You can update your preferences or unsubscribe from this list. COINTELEGRAPH LIMITED · Shelton Street, Covent Garden · London