China News Official Today TheBitTimes.com

Since Binance and Coinbase were sued for offering unregistered securities, Dorsey has tweeted posts promoting a focus on Bitcoin development. Long-time Bitcoin (BTC) advocate Jack Dorsey has found himself in a Twitter war with several crypto industry pundits after he responded with “yes” to a question asking if Ether (ETH) was a security . The comment caught the attention of Udi Wertheimer, a Bitcoin Ordinals developer at Taproot Wizards, who inferred Dorsey was a “clown” in a tweet on June 6. In response, Dorsey tweeted “ETH is not a security ? Teach me wizard,” which prompted Wertheimer to share a five-year-old video of the United States Securities Exchange Commission (SEC) chair Gary Gensler stating that ETH was now “sufficiently decentralized” and wasn’t a security . clowns. pic.twitter.com/S8AiJwuMem — Udi Wertheimer (@udiWertheimer) June 6, 2023 However, Gabor Gurbacs, strategy advisor to stablecoin issuer Tether and investment management firm VanEck weighed in on Werthei...

Jack Dorsey ’s Block released its quarterly results on Thursday, May 4. The fintech company generated a gross profit of $1.71 billion in Q1 2023, up 32% year over year. The company’s Cash App , on the other hand, reported a gross profit of $931 million, up 49% year over year, while Square generated a gross profit of $770 million, up 16% year over year. Source: Shareholders’ Letter Also Read: MicroStrategy Posts Q1 Profit With Bitcoin: MSTR Up 120% Bitcoin-related profit numbers As far as Bitcoin-related profits are concerned, the letter to shareholders revealed, “Bitcoin gross profit was $50 million in the first quarter of 2023. The total sale amount of Bitcoin sold to customers, which we recognize as bitcoin revenue, was $2.16 billion. Bitcoin gross profit was 2% of bitcoin revenue.” The latest $50 million marked a 43% incline from Q4 last year. From the year-over-year perspective, it was up 16%. Owing to the rise in Bitcoin’s price, the company did not b...