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The Sacramento Kings are offering bitcoin as a payroll option for all players and staff, continuing the franchise’s tendency to adopt new payment methods early.
The move is more of a marketing play, as the team leans into the recent bull market for cryptocurrency, reports Axios. Crypto is also gaining more support from mainstream companies, potentially creating wider usage.
The Kings also jumped on the checkout-free trend early, adding the technology for concessions and the team store in 2019.
Not so fast
Just a few weeks before it’s scheduled to go public, Coinbase is suffering from transaction delays on its Stellar platform, which manages the crypto exchange’s connection to banks and payment systems.
Coinbase is investigating the problem, reports Reuters, adding the latency is in deposits and withdrawals.
The Securities and Exchange Commission has approved Coinbase’s application to list in Nasdaq, which it’s scheduled to do on April 14 in a big milestone for cryptocurrency in general. Coinbase’s valuation in the private market is $68 billion, which Reuters attributes to the run in bitcoin over the past year. Coinbase on Tuesday reported quarterly revenue of $1.8 billion, up more than 900% from the prior year.
Revolut has issued a debit card that glows in the dark as part of a marketing campaign that includes heavyweight boxer Anthony Joshua.
The card is a limited edition, and the fintech will donate £1 for every card ordered to fund independent boxing clubs in England and Scotland, with a minimum £50,000 set aside, explains Finextra. Boxing clubs will have specific referral codes, with the gym that refers the most receiving an extra £10k.
Joshua’s motto, 258, appears on the cards, which are black and white in daylight and glowing green and black in the dark.
The messaging app Signal is in the early stages of offering a transfer service using the cryptocurrency MobileCoin.
Crypto payments will be available initially in the U.K. using Signal’s iOS and Android apps, reports Wired, which added Signal chose MobileCoin because its a “privacy coin,” which is designed to shield more information than typical crypto transactions. As an encrypted app, Signal hides messages from third parties, such as marketers.
Signal additionally uses relatively little space on a phone and can execute payments in a few seconds, according to Wired.
From the web
AliExpress Russia looks at possible IPO, reports $3 billion in transaction volumes
REUTERS | Wednesday, April 7, 2021
Online retailer AliExpress Russia on Wednesday said an initial public offering was a possible step for the company, which reported gross merchandise volume (GMV) of $3 billion for the 2020-21 financial year.
Patreon’s Valuation Triples to $4 Billion as Platform Draws Creators, Fans
THE WALL STREET JOURNAL | Tuesday, April 6, 2021
Patreon Inc., an online platform that connects musicians and other creators with fans, was valued at $4 billion in its latest investment round, more than tripling its value since September as venture capitalists bet on startups that serve content creators.
Cryptocurrency inflows hit all-time high of $4.5 billion in first-quarter: Coinshares
REUTERS | Tuesday, April 6, 2021
Inflows into cryptocurrency funds and products hit a record $4.5 billion in the first quarter, suggesting increased institutional participation in the once-maligned sector, data from digital currency manager Coinshares showed on Tuesday.
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