Blockchain Industry Update (Twitter, Mastercard, Amazon, Bithumb)

Crypto is a new favorite…Let’s dig deep to find out how companies using it in different ways…

Crypto

• Mastercard will start supporting cryptocurrencies directly on its network. Customers, merchants, and businesses will no longer need to convert cryptocurrencies into fiat currencies to transfer through the Mastercard network.
• Amazon to launch cryptocurrency payments product in emerging countries. The e-commerce giant has already begun assembling a team to lead the initiative in Mexico.
• BNY Mellon announces crypto custody and spies integrated services. The world’s biggest custodian bank beats rivals JPMorgan and Citi to the punch.
• Binance Smart Chain has grown at a rapid pace since its launch last year. A total of $4.325 Billion is now locked on the Binance Smart Chain.
• Kyrgyzstan central bank plans to introduce licenses for crypto exchanges. The central bank of the Kyrgyz Republic wants to provide crypto investors with the same level of protection that is already in place in traditional finance.
• Darknet’s JokerStash retiring after making over $1B through illicit transactions. Crypto sleuthing firm Elliptic says one of the world’s most prolific cyber criminals is going out on their own terms.
• German-based Deutsche Bank is working on a crypto asset custody and trading platform. The bank intends to launch the platform in four stages.
• SEC’s Crypto Mom demands clear rules for the industry. A well-defined crypto regulatory regime is urgently needed as major companies embrace the alternative asset class.
• WallStreetBets Reddit Spinoff is launching its own cryptocurrency. SatoshiSwap tokens will go to subreddit members whose posts get upvoted.

DeFi

• Seoul court orders Bithumb to refund victims of a withdrawal accident in 2018. The court says the victims should be paid $996,332 for their loss.
• PayPal CFO says the company might not convert cash into crypto. PayPal does not consider allocating portions of its cash into Bitcoin or any other cryptocurrency, despite its belief in the potential of digital assets.
• CREAM Finance, one of the more popular projects in the field of Decentralized Finance, has been exploited. The price for its CREAM token has dropped by 30% in less than a few minutes after the news broke out.
• Coinbase Ventures, Paradigm invest $12M in Synthetix DeFi Platform. Three prominent venture capitalist firms bought tokens directly from the DAO’s treasury.Bitcoin
• JP Morgan will get involved with Bitcoin if there’s enough demand. A recent town hall meeting at JP Morgan revealed that many traders inside the bank are “salivating” at Bitcoin.
• Twitter CEO Jack Dorsey and JayZ launch BTC Fund for developers in India and Africa.
• Miami passes a resolution that will allow Bitcoin payments in the city. Miami is also considering paying its employees through BTC.
• Andrew Yang has big plans for Bitcoin. He pledges to make New York Hub for Bitcoin and Cryptocurrency.
  Morgan Stanley’s $150 billion arm contemplates Bitcoin investment. In January, Morgan Stanley boosted stake in MicroStrategy to 10.9%.
• Twitter Stock jumps 20% following reports the company is weighing the possibility of adding BTC. The company’s stock surged to a new 52-week high of $73.18.