Digital Assets: Bitcoin Halving Done; JP Morgan is Banker to Coinbase, Gemini Digital Exchanges

May 12, 2020 | Digital Assets, News

The Bitcoin blockchain completed its third halving on May 11, 2020, at about 3:21 pm EST.

Bitcoin miners will now get 6.25 BTC per block, down from 12.50 BTC per block before halving. The halving happened earlier than expected, with most expectations for it to take place on May 12, 2020.

Post-halving, Bitcoin has fluctuated between $8,450 and $8,950 and is currently trading at $8,913.

Miners switching off?

The reduced reward may have made many mining operations unviable. According to, which quoted Alejandro De La Torre, VP at mining pool Poolin, miners who make up between 15% to 30% of the BTC network hashrate may imminently close shop as profit margins are drastically reduced.

However, the Bitcoin network is growing and in fine fettle

Though some miners may be shutting down, overall, the network is fundamentally in good shape. Rafael Schultze-Kraft – the co-founder of blockchain research platform Glassnode says: “The number of Bitcoin addresses is steadily increasing and currently at ATH. It recently crossed the milestone of 30 million addresses. That’s an increase of +234% since the last halving four years ago.”

Further, the growth rate of the network, as measured by the daily additions of addresses, is over 68% higher when compared to the previous halving.

In another positive metric, the number of whales is growing fast. “Both the number of Bitcoin addresses and entities holding ≥ 1,000 BTC are well on their way to reach new ATHs in 2020.”

JP Morgan is now counting the Coinbase and Gemini exchanges as banking clients

Crowdfund Insider reports that in a huge plus for the crypto industry, JP Morgan (NYSE: JPM) has accepted Coinbase and Gemini, two of the largest digital exchanges in the U.S., as banking customers.

The bank will offer wire transfers, deposits, and withdrawals.

This is an indication that the two exchanges had probably passed JPM’s rigorous vetting process, including of their KYC and AML systems.

Related Story:    Digital Assets: The Winklevoss-owned Gemini Exchange Gets Security Certification                                               

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News©ParisTsitsosforLivinFarms-scaled.jpg
Venture Capital: LIVIN Farms, A Provider Of Bugs On Subscription, Raises €6M Series A

LIVIN Farms, an industrial technology provider in the alternative protein industry, has developed HIVE PRO, a fully automated process that allows waste management companies and large scale food producers to…
Digital Assets: Sam Bankman-Fried’s FTX US Wins Auction For Voyager Digital’s Bankruptcy Assets With $1.4B Bid
September 28, 2022     Digital Assets, News

West Realm Shires Inc., dba FTX US, has won the bankruptcy auction for the assets of Voyager Digital with a bid of about $1.422 billion. It was held to be…
Artificial Intelligence: Clearview Nabs Patent For Technology That Creates Bias-Free Algorithms

Clearview AI announced its win of the “Scalable Training Data Preparation Pipeline And Efficient Distributed Trainer For Deep Neural Networks In Facial Recognition” patent (U.S. Patent No. 11,443,553) issued by…
Alternative Investments/ESG: The Newday Sustainable Development Equity ETF

Newday offers portfolios addressing the world’s most pressing environmental and social issues including climate action, ocean health, clean water, diversity, equity and inclusion, wildlife conservation and animal welfare, and stakeholder…