A mystery $1 billion Bitcoin Whale is active – What could it mean to prices?
A mystery bitcoin whale wallet holding nearly $1 billion worth of bitcoin is suddenly active after lying dormant for more than four years, according to a recent post on Reddit. Does this mean the whale is intending to dump a huge amount of BTC in the market? If you trade crypto you will hear the term “whale” and as the name suggests it is used to describe huge cryptocurrency holders. Bitcoin wallets holding around $1 billion are usually referred to as whales. With the recent activity many investors are questioning whether a dump is on its way. Some of the transactions are being traced back to a wallet address that […]
Why Brisbane is the cryptocurrency capital of the country
Queensland is banking on cryptocurrency to boost tourism in the state, with a sizeable grant given to a Brisbane-based start-up that will enable visitors to pay for every aspect of their travel using digital currencies like Bitcoin. The local start-up, TravelbyBit, has received two rounds of funding from the state government and, in turn, has transformed its hometown of Brisbane into one of the most crypto-friendly cities in the world. TravelbyBit’s digital currency point-of-sale system has been deployed to over 200 merchants across Australia, with at least 60 per cent of those located in Queensland. In May, Brisbane Airport became the first in the world to accept cryptocurrency, enabling travellers […]
Could Bitcoin replace Credit Cards?
Growing competition in the retail sector – and the possibility that the digital currency could help merchants lower transaction fees that cut into profit margins — could induce them to replace credit cards with Bitcoin. “From a merchant perspective, Bitcoin has the advantage of not having large fees from credit card companies that cut into profits,” writes Ian DeMartino, in The Bitcoin Guidebook: How To Obtain, Invest, And Spend The World’s First Decentralized Cryptocurrency. “Credit card companies typically charge between three to four percent for each transaction, a fee the merchants normally take on themselves. For merchants with small profit margins, that fee could be up half or more of […]
Australian startups selected for Accenture’s FinTech Innovation Lab
Eight leading fintech companies have been selected for the fifth annual FinTech Innovation Lab Asia-Pacific, a 12-week mentorship program created by Accenture. The 2018 program received a record number of applications, from more than 160 companies, and comes at a time when investments into the sector are soaring. According to an Accenture analysis of data from CB Insights, global investment in fintech ventures reached another all-time high in 2017, of US$27 billion, with continued growth in 2018. Launched in Hong Kong in June 2014, the FinTech Innovation Lab Asia-Pacific has received nearly 600 applications since its inception, with 33 companies participating to date. Alumni companies from the Lab have raised US$288 […]
Global fintech investment hits a record high with Australian funding continuing to grow
Investment in Australia’s fintech sector followed the upwards tick of global growth patterns in the first half of 2018, with US$63.7 mil invested, up from US$56.1 mil in 2H’17 and US$56.0 mil in 1H’17, though remained lower than the highs recorded in 2H’15 and 1H’16 according to KPMG’s Pulse of Fintech report. Much of the investment in Australia, however, is concentrated across a small number of deals. Australia saw just seven deals during the period, down from 12 in 2H’17 and 16 in 1H’17. Total VC, PE and M&A investment amounted to US$171.5 mil, across 14 deals. “Significant outliers still dominate the Australian fintech ecosystem, propelling the majority […]
Bitcoin’s collapse is raising suspicions about price manipulation
Bitcoin extended losses, bringing its four-session slide to as much as 20 per cent, as questions mount about whether the world’s biggest cryptocurrency was manipulated during last year’s record price surge. After rallying more than 1,400 per cent in 2017 amid an investor frenzy for digital assets, Bitcoin is down almost 70 per cent to around $US6,325 as of 2:52 a.m. in New York, from its record high of $US19,511 set in December. It traded at a few cents after being launched in 2009. “Things have changed for Bitcoin and the crypto space,” said Craig Erlam, senior market analyst at online trading firm Oanda Corp. in London. “There doesn’t seem […]
Brighte set to accelerate growth with $18.5m in funding
Sydney-based home energy fintech, Brighte, closes 18 months of strong growth with a Series B equity round of $18.5m. The round was led by Airtree Ventures and also includes Skip Capital, the Milgrom Family and further investment from Grok Ventures. Brighte is a digital credit platform offering affordable point-of-sale payment solutions for home energy improvements such as solar panels and batteries. In its first eighteen months it has over approved over $50m of applications from 6,000+ Australian homeowners. This stellar growth has been the result of a fully digital, innovative product being brought to the home improvements market as demand surges from everyday Australians for solutions to rising energy costs. […]
‘Burning’ coins: how Bitcoin Cash became the world’s hottest cryptocurrency
Bitcoin Cash is the hottest cryptocurrency around right now for more reasons than you may imagine. The offshoot of the biggest digital token has surged about 25 per cent since Friday, in part because Antpool, one of the largest mining groups, is “burning” a portion of the coins it receives in exchange for solving the complete mathematical puzzles that serve as the backbone of the network, potentially reducing supply and driving up the value. The manoeuvre is the latest salvo in an escalating battle between backers of Bitcoin and Bitcoin Cash, which was spun off last year. Through a war of words playing out on Twitter and Facebook, some of […]
