New York polls crypto firms on security measures after Twitter hack

The New York Department of Financial Services, or NYDFS, has released a lengthy report analyzing the impact of July’s high-profile Twitter hack, which resulted in the theft of over $118,000 worth of Bitcoin (BTC).

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PayPal on the Heels of Square Could Make Bitcoin Push: Market Leaders – BeInCrypto

Jack Dorsey’s payments company Square has been a first-mover when it comes to bitcoin. Not only did Square enable bitcoin payments on its Cash App, but the company recently announced that it was purchasing $50 million worth of BTC for its balance sheet.

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MicroStrategy CEO: BTC Works if your Investment Time Horizon is 100yrs – Ethereum World News

Summary:

MicroStrategy CEO, Michael Saylor, has pointed out that Bitcoin is a worthwhile investment for anyone playing the long game
He pointed out that any asset can work if your investment time horizon is one year
But Bitcoin works if your investment time horizon is one century

In a recent tweet

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BTC Analyst: Square, MicroStrategy Buying BTC is a Tip of the Iceberg – Ethereum World News

Summary:

Veteran Bitcoin analyst, Willy Woo, has stated that Square and MicroStrategy buying Bitcoin is a tip of the Iceberg
He explains that the last 8 months has seen a reduction of 250,000 BTC from exchanges
This reduction could be ‘unannounced’ investors including high net worth individuals buy

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Square Pours $50 Million Into Bitcoin, Company’s Stock Price Soars – BeInCrypto

If you’re wondering what was behind the change in sentiment in the bitcoin price, which on Oct. 8 flipped from red to green, you might want to thank Jack Dorsey.

Square has purchased $50 million worth of bitcoin, which it says aligns with its mission of economic empowerment.

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Jack Dorsey’s Square adds 4,709 Bitcoin to its balance sheet

In a surprise move, Square announced the acquisition of 4,709 Bitcoin (BTC) worth roughly $50 million at time of publication. The company’s co-founder Jack Dorsey has been a long-term proponent of Bitcoin and crypto, while the company’s CashApp allows its users to invest in Bitcoin.

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Square Raked in $875 Million in Bitcoin Revenue During Q2 2020 – BeInCrypto

In an early release of it’s most recent shareholder report, fintech giant Square announced that it did $875 million in Bitcoin revenue during the second quarter of 2020. This figure was primarily driven by its Cash App, which enables users to buy and sell Bitcoin.

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