Quote of the week: “Not all of it [Bitcoin] is bad. If you said to me ‘I want to send $200 to a friend in a foreign country,’ that could take you two weeks and cost you $40. You could do it through a digital currency and it’ll take you seconds.” – Jamie Dimon, JPMorgan CEO. Source: https://
Goldman Sachs Gives Coinbase the First Bitcoin-Backed Loan: Coinbase, the largest U.S. exchange, took out a loan this week from Goldman Sachs collateralized in Bitcoin. This may pave the way for more of these types of loans, deepening ties between cryptocurrency and traditional finance. Source: https://cointelegraph.
Gucci Will Be Accepting Cryptocurrency Payments in Store: This week, Gucci announced that it will be accepting cryptocurrencies, including Bitcoin, in some of its United States stores later this month. The company has plans for a wider rollout in the future. Source: https://www.fxempire.
Binance Backs Elon Musk’s Twitter Buyout: According to data filed with the U.S. Securities and Exchange Commission, Binance committed to co-investing in Twitter with Elon Musk. Binance is one of 18 co-investors in the acquisition and is investing $500 million. Source: https://finance.
Legislation Update Featuring California: The California Governor, Gavin Newsom, has signed an executive order to prompt Web3, cryptocurrency, and blockchain adoption. California is the first state in the United States to create a comprehensive framework for ‘responsible Web3 technology to thrive.’ California hopes to be “ahead of the curve,” according to the Governor. Source: https://www.fxempire.
Algorand is Now the First U.S. Blockchain Sponsor of the FIFA World Cup: Blockchain network Algorand partnered with FIFA, becoming the soccer association’s first official blockchain platform. Algorand will help FIFA develop a digital asset strategy and official wallet solution, among other things. Source: https://cointelegraph.
And, that’s a wrap!