Bitcoin holds at $ 46,300

[ad_1]

Jan Van Eck on Bitcoin Regulation and Gold Prospects at ‘Barron Roundtable’

Bitcoin holds on Wednesday morning.

The price was around $ 46,300 per coin, while rivals Ethereum and Dogecoin were trading at around 3,220 and 26 cents per coin, respectively, according to Coindesk.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Cryptocurrency exchange Coinbase Global Inc. topped market estimates for second quarter profit, boosted by an almost 38% increase in trading volumes on a sequential basis.

The company has forecasted lower volumes for the current quarter, however, according to Reuters.

CFO Alesia Haas said Coinbase is paying close attention to comments from U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler, who called on Congress last week to demand more authority to better control cryptocurrency trading, lending and platforms.

“We look forward to understanding the legal framework of the concerns he raised and how each of them can impact our product roadmap,” Haas said on a conference call with analysts after the results.

EXPLANATOR: HOW THE CRYPTO-CURRENCY FITS INTO INFRASTRUCTURE LAW

The exchange also plans to increase the number of assets listed on its platform, with chief executive Brian Armstrong saying he wanted Coinbase to be “the Amazon of assets” and list all legal crypto assets on its platform. form.

For the quarter, the company’s transaction volumes reached $ 462 billion, up from $ 335 billion in the quarter ended in March.

On an adjusted basis, the crypto exchange gained $ 3.45 per share. Analysts had expected earnings of $ 2.33 per share, according to IBES data from Refinitiv.

TED CRUZ’S SPEECH ON CRYPTO-CURRENCY BECOMES VIRAL, ACCUSES SENATORS OF “IGNORANCE” ON THE ISSUE

In other cryptocurrency news, Venmo, owned by Paypal Holdings Inc, is rolling out a feature that would allow its credit card holders to automatically purchase cryptocurrency with the cashback earned on their purchases, according to Reuters.

Ticker Security Last modified Modified% PYPL PAYPAL HOLDINGS, INC. 274.37 -3.78 -1.36%

Cardholders will be able to purchase Bitcoin, Ethereum, Litecoin and Bitcoin Cash through the “Cash Back to Crypto” feature and will not be charged a fee for the transaction, Venmo said in a statement.

CLICK HERE TO LEARN MORE ABOUT FOX BUSINESS

Users can hold or sell these assets at any time in the Venmo app and change their choice of cryptocurrency.

The payment service has more than 70 million users.

[ad_2]