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Coinbase Says Crypto Is Going Mainstream, Bittrex Announces New Deadline for New York Customers

June 29, 2019

A new study from leading US cryptocurrency exchange Coinbase shows that 58% of Americans say they’ve heard of Bitcoin. The researchers point out key factors that indicate a rising interest in cryptocurrencies in the US, and an openness among more people to participate in a new global economy.

The report shows that more than 70% of US states have enacted legislation that addresses cryptocurrency or blockchain.

It also measures interest in Bitcoin against pop icon Kim Kardashian.

“If you want to get a sense of how interested America is in a topic, there aren’t many better benchmarks than Kim Kardashian, whose social-media dominance gives her an outsized slice of our collective consciousness.

Since the beginning of this year, one of the rare ideas that grabbed even more of our attention is Bitcoin. On average, Google users have searched for Bitcoin more often than they sought out info on Kim K., and that number is only trending upwards.”

The report states that in Wisconsin and Utah, 57% of people have “unaided awareness” of Bitcoin, with Colorado, Massachusetts, and Wyoming close behind.

Top 5 states with the highest percentage of crypto holders

  • California

  • New Jersey

  • Washington

  • New York

  • Colorado

Across the US, 37% of respondents ?named Bitcoin in response to a query about cryptocurrencies.

Top 10 states with the largest average value of crypto owned per crypto owner

  • Delaware

  • California

  • Nevada

  • New York

  • Washington

  • Wyoming

  • Connecticut

  • Illinois

  • Massachusetts

  • New Hampshire

Says Harrison, a 30-year-old systems manager in Washington State,

“For people in my generation, I think it makes a lot more sense than stocks, bonds, inflated real estate, or other depreciating assets. I have no plans to trade or sell right now?. There are price points where I might sell some, to pay off debt or pay off my condo. But the goal is to try to get actual economic freedom.”

You can check out the full report here.

Meanwhile, New York regulators have extended a deadline for cryptocurrency exchange Bittrex. The New York State Department of Financial Services (NYDFS) required Bittrex to cease all operations for New York residents, halting all trading for New York customers back in April with accounts disabled on June 9th. Customers who missed the June 9th deadline to withdraw their crypto assets will now have until October 24, 2019 to withdraw their crypto assets.

Unclaimed crypto assets from New York customers will be transferred to the New York Office of the Comptroller after the new deadline.

In April, the NYDFS rejected Bittrex’s application for a BitLicense citing failure to demonstrate that it will adhere to proper conduct.

The Seattle-based exchange rebutted the agency’s decision in a public letter.

You can check out the announcement here.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.