Square Announces They Have Purchased $50M of Bitcoin – October 9

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $11,066

Bitcoin price has broken the $11,000 mark overnight, as price finally breaks out of its recent tight range.

Top-20 altcoins have also spiked in price, with Ethereum gaining 6%, XRP 4%, and Chainlink blasting off with a 17% gain.

Top Stories for October 9, 2020 πŸ”₯

πŸ‘‰ Square Announces They Have Purchased $50M Of Bitcoin

Payments company Square, founded by Twitter founder and CEO Jack Dorsey, have announced that they have purchased $50 million worth of Bitcoin.

The purchase – more than 4,700 Bitcoins – now comprises an estimated 1% of the company’s total assets, using 2020 mid-year figures.

Square has long been a proponent of Bitcoin, giving users the ability to buy the cryptocurrency through their services since the year 2018.

πŸ‘‰ 5% of Coinbase Employees Quit Following “Apolitical” Mission Post

Coinbase CEO Brian Armstrong has reported that 60 employees – roughly equal to 5% of the company – have taken severance packages offered to those who weren’t in agreement with the company’s new “apolitical” stance.

The stance was set in a blog post by Armstrong himself, who stated that the company would focus on its business mission rather than become involved in political issues.

πŸ‘‰ BitMEX CTO Released From Custody On $5M Bail

BitMEX CTO Samuel Reed has been released from custody following the payment of a $5 million bond, according to the District Court of Massachusetts.

Reed was arrested at the very beginning of this month, after the U.S. Commodities Futures Trading Commission (CFTC) brought charges against BitMEX and its leadership team.