WHAT’S BREWING IN CRYPTO NEWS?
Are you in search of the best crypto casino? You’ve found it right here at Cafe Casino, where knowing all there is to know about the world of cryptocurrency is our jam.
To make sure you can stay up-to-date as well, we’re delivering key news stories for you to digest with your morning coffee. It’s the exhilarating world of crypto, one byte at a time.
Let’s see what’s brewing.
This Week: PayPal Now Lets U.S. Businesses Buy, Sell, and Hold Cryptocurrency
October 10, 2024
PayPal just hit the headlines with a big shift that could level up millions of U.S. businesses. As of late September, the online payment giant is now letting U.S. business account holders buy, hold, and sell crypto currencies – an update that’s been a long time coming.
Up until now, crypto transactions were reserved for personal accounts like on PayPal and Venmo. But by bringing crypto into the fold for business accounts, it’s much easier for companies to take advantage of the speed, lower transaction fees, and global reach of digital currency. This could be a big win if you want to accept Bitcoin or just want a faster, cheaper way to handle transactions.
And it doesn’t stop there. PayPal is letting businesses transfer crypto to external wallets, which adds more flexibility and security. Companies can also pay their vendors or suppliers using cryptocurrency. This could streamline cross-border payments by cutting out hefty exchange rate fees and long wait times, something that’s always been a headache with international transactions.
Now, it’s important to note that this isn’t PayPal’s first rodeo in the crypto world. They’ve been playing in the crypto space for a while.
They launched crypto services for personal accounts back in 2021. More recently, they rolled out their own U.S. dollar-backed stablecoin called PayPal USD (PYUSD) in 2023, which has since expanded to the Solana blockchain to cut down on transaction fees. That’s great news if you’re eyeing crypto for smaller purchases or everyday business expenses.
The bottom line is that PayPal’s update could be a smooth entry point for businesses looking to adopt crypto and enjoy smoother transactions with fewer fees – it’s a home run!
This Week: SEC for the win – You can now trade BlackRock’s iShares Bitcoin Trust
September 30, 2024
The U.S. just scored a major crypto win this week when the SEC (Securities and Exchange Commission) gave the green light to options trading for BlackRock’s iShares Bitcoin Trust (IBIT), meaning Nasdaq can now list these Bitcoin options.
What does this actually mean? Options trading is like having a “backup plan” for your Bitcoin. You get the option to buy or sell Bitcoin at a set price by a specific date, but the beauty of it is that you don’t have to own the actual Bitcoin. This setup helps investors navigate Bitcoin’s price changes. You get more ways to participate in the market while staying safely within a legit and regulated space.
So, let’s say you think Bitcoin’s price will drop. In this case, you’d buy a “put” option. This lets you sell at today’s price even if the market crashes tomorrow. On the flip side, if you expect Bitcoin to skyrocket, a “call” option lets you buy at a set price down the road. It’s essentially a safety net.
That’s all fine and dandy for big-time or experienced investors, but what about us regular folks? Thanks to these new options, it’s easier to get involved in Bitcoin without diving into unfamiliar and potentially unregulated markets. Plus, more big players joining in means Bitcoin will likely be more stable and secure.
The SEC’s approval is just the beginning though – there are still some hoops to jump through with the CFTC (Commodity Futures Trading Commission). Once fully approved, this opens up new doors for investors, making Bitcoin investment more accessible, regulated, and less risky.
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This Week: Solana-powered DRiP Bags $8M in Seed Funding
September 19, 2024
Solana-based NFT drop platform DRiP has bagged $8 million in seed funding, poised to revolutionize the creator economy. With NFX, Coinbase Ventures, and Progression leading the charge, DRiP is launching a slick mobile app to roll out more creative tools for artists.
So, what’s the deal with DRiP?
Let’s put it this way. What if you could send your favorite content creators a tip, even if it’s just a few cents, while barely paying any fees? With DRiP, you can.
DRiP is built on Solana, a blockchain known for handling tons of transactions at super-low costs. That means you can send micro-tips for barely any fees, and giant tech companies are no longer taking a hefty cut of the profits. Creators keep most of what they earn while serving up digital art, music, and videos directly to their fans as NFTs. Then, what’s really cool about DRiP is that creators can even auction off premium content like special artwork, rare videos, or limited-edition music.
DRiP’s ambitious mission is to knock the web2 gatekeepers, like YouTube and Instagram, off their thrones. They’ve already sent 170 million digital collectibles to over 2 million wallets, and this is just the beginning. Plus, with their upcoming mobile app, fans can enjoy and interact with their favorite content faster and easier than ever since the app has a built-in wallet that keeps everything in one place.
Vibhu Norby, DRiP’s co-founder, wants to make sure creators stay in the driver’s seat. He believes they should have more control over their earnings and be able to reward fans with exclusive digital goodies they can trade or sell.
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This Week: Tether Sows Seeds in LatAm with $100M Investment in Agriculture
September 13, 2024
Tether, the heavyweight behind the USDT stablecoin, is plowing into new territory with a $100 million investment in Latin American farming giant, Adecoagro. With this stake, Tether grabs a 9.8% slice of Adecoagro, branching out from crypto into the fertile fields of agriculture.
Adecoagro is an agricultural conglomerate that tends over 213,500 hectares of farmland across Argentina, Brazil, and Uruguay. From planting crops to milking cows and harvesting sugarcane, they do it all – while also generating renewable energy. Then, in 2021, Adecoagro teamed up with Agrotoken, an Argentine startup that converts farm yields into digital tokens.
Agrotoken has a trio of stablecoins – SOYA, CORA, and WHEA – that lets farmers turn their grains into digital currency. They can trade their crops for supplies, services, and more, just like bartering in the digital age. With $70 million in deals already sprouting, they’ve worked with over 1,000 farmers and tokenized 230,000 tonnes of crops.
Tether’s $100 million bet fits its broader mission of digging into tokenized assets. The company plans to launch a tokenization platform later this year, planting digital versions of everything from bonds to stocks. And let’s not forget its gold-backed stablecoin, XAUT, which is already harvesting a $615 million market cap.
As competition in the stablecoin market heats up, Tether is spreading its roots beyond crypto. They’re betting that farming and land will offer steady yields, just like a good harvest. Besides agriculture, Tether has also invested in Bitcoin mining, payment processing, and cloud computing – effectively planting seeds in every corner of the digital world.
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