Bitcoin
Square Turns On Bitcoin Lightning Payments: A Game-Changer for 4 Million Merchants
In a major boost for cryptocurrency adoption, payments giant Square—valued at $50 billion and part of Block Inc.—has officially activated Bitcoin Lightning Network payments for its first wave of merchants as of July 23, 2025. This rollout allows select sellers to accept Bitcoin (BTC) directly at point-of-sale terminals using the Lightning Network, a Layer-2 solution known for its fast and low-cost transactions.
Led by Bitcoin advocate Jack Dorsey, Square’s initiative enables merchants to either hold incoming BTC or automatically convert it to fiat currency, providing flexibility amid market volatility. The company plans to expand this feature to its entire network of over 4 million sellers by 2026, potentially revolutionizing everyday payments and integrating crypto into mainstream commerce.
This development builds on earlier announcements from May 2025, where Block outlined its strategy to incorporate Bitcoin payments via Square’s ecosystem. Industry experts hail it as a significant step toward mass adoption, especially with Lightning’s ability to handle high-volume, low-fee transactions—addressing long-standing criticisms of Bitcoin’s scalability.
As more merchants onboard, this could accelerate Bitcoin’s use as a medium of exchange, bridging traditional finance and digital assets. However, users are reminded of crypto’s risks, including price fluctuations. With this move, Square is positioning itself at the forefront of the evolving payments landscape.
The content on CoinReporter.io is for informational purposes only and is not financial or investment advice. Cryptocurrency investments are highly volatile and risky. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. CoinReporter.io and its authors are not liable for any losses resulting from actions based on this website’s content.
Bitcoin fell below $78,000 on October 30, 2026, as confirmation of the Binance security incident accelerated a broader risk-off move across crypto markets.
On CoinMarketCap, Bitcoin traded at $78,430 with a market capitalization of approximately $1.57 trillion, down roughly 2% over the prior 24 hours and more sharply from earlier levels near $81,000–$82,000. The decline pushed BTC to its weakest levels in more than a month, with some reports showing brief tests of the mid-$76,000s during the sharpest phase of the sell-off.
The drop intensified after Binance disclosed the estimated $6.3 billion hot-wallet breach late on October 29. Leveraged liquidations amplified the move, with figures ranging from hundreds of millions to more than $1 billion in 24-hour windows depending on the snapshot and venue. Broader risk aversion linked to technology-stock weakness and a hawkish tone from the Federal Reserve added to the pressure.
Bitcoin dominance remained elevated, indicating that capital was rotating out of higher-beta assets rather than exiting the crypto market entirely. Analysts highlighted key support clusters in the $77,000–$79,000 range, while resistance stayed firm above $81,000–$85,000. The incident’s market impact is still unfolding as investigations continue and further details on frozen assets and potential recoveries emerge.
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