Over $640 Million of Short Positions Liquidated

Bitcoin (BTC) has skyrocketed 15% today moving all the way past $38,500 in a strong bounce back. The news that e-commerce giant Amazon is working to integrate Bitcoin payments at their end has brought all the fireworks.

At press time, Bitcoin (BTC) is trading at $38,315 with a market cap of $719 billion. Over $640 million of short positions have been liquidated in just the last one hour. Citing data from Bybt.com, Chinese journalist Colin Wu reported:

“Today’s liquidation volume has exceeded 800 million U.S. dollars, and the main short order has been liquidated. The short order liquidation amount in the past hour reached 640 million U.S. dollars, which is the largest single-day liquidation volume in more than two months”.

Last Saturday, July 25, CoinGape reported that Amazon is looking to hire a product lead for its crypto and blockchain division. In a further development, an insider source told the City AM news publication that Amazon is ‘definitely’ looking to launch Bitcoin and crypto payments by the end of this year. The source said:

“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work. It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top…” Read more...

Amazon may allow users to pay in cryptocurrencies like Bitcoin soon as the e-commerce giant is hiring a digital currency and blockchain product lead for its payments team.

According to a latest job listing, Amazon's Payments Acceptance & Experience team is "seeking an experienced product leader to develop Amazon's Digital Currency and Blockchain strategy and product roadmap".

"You will leverage your domain expertise in Blockchain, Distributed Ledger, Central Bank Digital Currencies and Cryptocurrency to develop the case for the capabilities which should be developed, drive overall vision and product strategy, and gain leadership buy-in and investment for new capabilities," the company posted.

The product lead will work closely with teams across Amazon, including AWS to develop the roadmap for the customer experience, technical strategy and capabilities as we .. Read more...

Amazon could be doubling down on cryptocurrencies.

The company has posted a job listing for a Digital Currency and Blockchain Product Lead. The new hire will work in the payments acceptance and experience team to “own the vision and strategy for Amazon’s Digital Currency and Blockchain strategy and product roadmap.”

That could hint at a potential future integration of cryptocurrencies on the site. The opening also comes five months after whispers began to grow that Amazon was laying the groundwork for a new digital currency to use in its marketplaces and platforms.

In February, CoinDesk reported Amazon was preparing to launch a “digital currency” project in Mexico, noting a job posting that described a “new payment product” for the company.

Amazon presently has more than 70 openings for blockchain specialists, so the company could also be building out a blockchain supply business for customers of its Amazon Web Services. Read more...