Cryptocurrency News Update for August 5

Coinbase Discontinues Bitcoin SV Trading After Massive 51% Attack

Following a massive 51% attack on BSV on Tuesday, Coinbase has stopped all BSV trading on the crypto exchange platform.

This attack is supposedly the largest since the cryptocurrency was launched, with reorganization 14 blocks deep.

This attack may not be the first attempt at reorganizing BSV, as the Bitcoin Association believes that this same attacker has attempted 51% attacks at BSV four times before now.

The Bitcoin fork has suffered some significant setbacks as Gravity recently de-listed the it. Also, BSV trading has been discontinued by Binance and Gemini as a result of some other issues.

If this trend continues unabated, a massive devaluation of the coin is imminent.

Fidelity Buys 7.4% Stake in Marathon Digital Holdings

In a deal worth around $20 million, Fidelity Investments Inc. has finalized the acquisition of 7.4% of Marathon Digital Holdings, a publicly-listed Bitcoin mining firm.

This deal comes as China continued clamping down on crypto mining, leaving firms like Marathon with a lot less competition.

Fidelity joins other organizations to acquire stakes in the mining firm. Vanguard Group remains the highest stakeholder with a 7.58% stake, while Susquehanna and Blackrock have 2.7% and 1.6%, respectively.

Coinbase Poised To Acquire Zabo in A Recent Deal

A recent deal agreed to by the two companies shows that Coinbase agreed to buy Zabo for an undisclosed sum, the co-founders of Zabo announced in a blog post yesterday.

The Dallas-based cryptocurrency aggregator connects crypto accounts, making it easier for users to manage and integrate their assets.

This move comes after Zabo made some impressive strides, including partnering with Money Dashboard and announcing a $2.5 million round of funding.

This latest movement will undoubtedly improve Zabo, as it already supports some of the world’s top exchanges.

Author: Jofor Humani

Writing is a late passion developed by Jofor. Other passions include singing hymns of praise. He has been creating crypto content since 2017 for many cryptocurrency and blockchain journalistic outlet.