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Coinbase Will Support Dogecoin Trading

Matt Milano
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Coinbase Will Support Dogecoin Trading

Coinbase has reversed course, announcing it will finally start supporting Dogecoin trading.

What started as a meme has taken the crypto world by storm, with Dogecoin catapulting into the fourth largest cryptocurrency by market value. Despite Dogecoin’s growth, one of the leading crypto trading platforms has been noticeably absent from the action.

Coinbase is changing its tune, with CEO Brian Armstrong telling investors the platform will support Dogecoin within six to eight weeks, according to Gizmodo. Armstrong also highlighted his vision of where he sees things going.

I think it’s going to be something, kind of, like apps in the App Store or on the iPhone where there’s eventually millions of these assets created over time and so we’re putting a lot of work and thought into how do we accelerate our pace of asset addition, and one of those is Doge, as you mentioned, which has been getting a lot of attention recently.

Coinbase’s change of plans is likely to boost Dogecoin even more, making it easier than ever for people to trade the crypto.

*Author holds a very small amount of Dogecoin that in no way influenced this article.

Bitcoin’s Tesla Misfortune May Be Dogecoin’s Gain

Matt Milano
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Bitcoin’s Tesla Misfortune May Be Dogecoin’s Gain

On the heels of Tesla no longer accepting Bitcoin as payment, Elon Musk has said he is working with Dogecoin’s developers.

Elon Musk surprised the crypto market Wednesday when he announced Tesla would no longer accept Bitcoin as payment, just weeks after the company had announced it would. Musk cited Bitcoin mining’s carbon footprint as the reason, something the cryptocurrency is increasingly being criticized for.

Despite Musk’s announcement, he clarified he is still a strong supporter of cryptocurrencies in general.

In addition, Musk says he is working with Dogecoin’s developers to help it be more efficient, possibly avoiding the environmental impact Bitcoin has become known for.

Needless to say, Dogecoin rebounded on Musk’s tweet, and continues its transition from meme to legitimate crypto.

*Author holds a very small amount of Dogecoin that in no way influenced this article.

MoneyGram and Coinme Partner to Improve Bitcoin Access

Matt Milano
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0
MoneyGram and Coinme Partner to Improve Bitcoin Access

MoneyGram, one of the leading money transfer services, is partnering with Coinme to improve people’s access to Bitcoin.

While cryptocurrencies are rising in popularity, being able to access holdings and make use of them continues to pose a challenge for some. MoneyGram hopes to change that, in partnership with Coinme, making it easier for people to access their Bitcoin.

“This innovative partnership opens our business to an entirely new customer segment as we are the first to pioneer a crypto-to-cash model by building a bridge with Coinme to connect bitcoin to local fiat currency,” said Alex Holmes, MoneyGram Chairman and CEO. “Our unique, global network is an incredibly valuable asset, and we’re excited to open our platform to Coinme as we increasingly look to capture new growth by monetizing our network to new use-cases.”

The companies especially see an opportunity to help people who are just dipping their feet in the crypto market, making it easy to buy Bitcoin with cash and get cash for their Bitcoin holdings.

“MoneyGram has spent more than 80 years building one of the world’s largest P2P payment networks,” said Neil Bergquist, Coinme CEO. “By integrating its global infrastructure with our licensed crypto exchange technology, we can enable the purchase and sale of cryptocurrencies across its system using cash. This is a major milestone for the bitcoin and cryptocurrency communities, and for the millions of people who will benefit from a trusted, easy and affordable onramp to digital currency.”

Tesla’s Bitcoin Reversal Wiped $365 Billion From Crypto Market

Matt Milano
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0
Tesla’s Bitcoin Reversal Wiped $365 Billion From Crypto Market

Tesla’s decision to stop accepting Bitcoin for payment led to some $365 billion of value being wiped from the crypto market.

Tesla made the decision in March to accept Bitcoin as payment for vehicle purchases. The move was not surprising, given CEO Elon Musk’s love of crypto. Yesterday, however, the company reversed its plans, with Musk citing the environmental impact of Bitcoin mining.

The decision already appears to have had a major impact on the crypto market, according to CNBC, with some $365.85 billion wiped from the market after Tesla’s announcement.

In particular, Bitcoin, ether and XRP were all significantly lower than their pre-announcement levels.

Facebook’s Diem Abandons Swiss Plans, Will Move to US

Matt Milano
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Facebook’s Diem Abandons Swiss Plans, Will Move to US

Diem, the Facebook-backed cryptocurrency formerly known as Libra, is abandoning its efforts to get licensed in Switzerland and will move to the US.

Diem is a widely anticipated crypto that has gained and lost support from major corporations during its planning and development stage. Some of the biggest names in tech and finance originally backed it before reversing course as a result of regulatory scrutiny.

Many jurisdictions were concerned about the prospect of Facebook — a company with a troubled reputation in the realm of data and privacy — being the primary backer of a cryptocurrency. To help address the issues, Facebook pivoted to making Diem a stable crypto, backed by a national currency.

The Diem Association had originally been trying to gain licensing approval with Switzerland’s FINMA watchdog. According to CNBC, however, the association has changed direction and will move to the US. The association has partnered with Silvergate, a California bank, to back Diem with the US dollar.

“While our plans take the project fully within the US regulatory perimeter and no longer require a license from FINMA, the project has benefited greatly from the intensive licensing process in Switzerland and the constructive feedback from FINMA and more than two dozen other regulatory authorities from around the world convened by FINMA to consider the project,” Stuart Levy, Diem’s CEO, said in a statement.

Apple TV+ Hits 40 Million Subscribers

Matt Milano
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0
Apple TV+ Hits 40 Million Subscribers

Apple TV+ has crossed a major milestone, according to estimates, topping 40 million subscribers.

Apple TV+ is the company’s take on streaming TV, with a focus on original content. Ted Lasso, The Morning Show and Mythic Quest are some of the biggest TV shows on the platform. Meanwhile, Tom Hanks’ Greyhound was a critically-acclaimed movie that debuted on Apple TV+.

Despite being a relative newcomer to the streaming market, Apple’s entry is already making some impressive strides, according to Newsweek. Apple TV+ was estimated to have 33.6 million subscribers at the end of 2019 and 40 million by the end of 2020.

With 40 million subscribers, Apple TV+ comes in ahead of Paramount+ (under 36 million), Peacock (33 million) and Hulu (39.4 million). Apple’s platform is still behind HBO Max and far behind Disney+, Amazon Prime and Netflix.

In addition, Apple TV+ has obviously benefited from Apple bundling it for free with new purchases of iPhones, iPads and Macs. It remains to be seen if the service maintains its popularity once people have to pay for it.

Tesla Suspends Purchases Using Bitcoin

Matt Milano
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0
Tesla Suspends Purchases Using Bitcoin

Tesla will no longer accept Bitcoin as payment for Teslas, reversing a policy only weeks after it went into effect.

Elon Musk is a big proponent of cryptocurrency, so it’s no surprise that both of his companies, Tesla and SpaceX, have taken an unconventional approach as well. SpaceX recently announced it had accepted Dogecoin as payment for carrying a satellite on its upcoming mission to the Moon and Tesla was accepting Bitcoin as payment for vehicle purchases.

Unfortunately, an often overlooked byproduct of cryptocurrency mining is the impact it has on the environment. In fact, as far back as 2018, it was estimated that every $1 of Bitcoin that was generated was responsible for $49 of health and climate damage in the US.

Musk cited the environmental impact as the primary reason for Tesla’s change of direction. He made the statement via Twitter.

Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment.

Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction.

*Author holds a very small amount of Dogecoin that in no way influenced this article.

Sony Warns of Ongoing PlayStation Supply Issues Through 2022

Matt Milano
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Sony Warns of Ongoing PlayStation Supply Issues Through 2022

Sony has warned the supply of the PlayStation 5 will remain tight through 2022 and possibly into 2023.

The pandemic has led to a global semiconductor shortage, one that is impacting manufacturing across industries. Automakers have experienced major slowdowns because they can’t gain access to enough of the chips they need to manufacture vehicles. Computer makers, chip makers and GPU manufacturers have struggled to keep up with demand.

Sony has warned analysts it is not immune, saying supply will remain tight through the year, according to Bloomberg.

“I don’t think demand is calming down this year and even if we secure a lot more devices and produce many more units of the PlayStation 5 next year, our supply wouldn’t be able to catch up with demand,” Chief Financial Officer Hiroki Totoki said.

The good news is that the PlayStation 5 is selling at a pace to rival the PlayStation 4. Especially during the pandemic, when people are spending more time at home, tablets and consoles are in greater demand than ever.

Apple’s App Store Stopped $1.5 Billion in Fraud in 2020

Matt Milano
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Apple’s App Store Stopped $1.5 Billion in Fraud in 2020

Apple has released a report detailing its efforts to protect users, including that it stopped $1.5 billion in fraudulent App Store transactions.

The App Store is at the heart of Apple’s case against Epic, with the latter suing to force Apple to allow alternative payment methods and app stores. Not surprisingly, Apple is touting the benefits of the App Store, and working to demonstrate how integral it is to the overall security of the iOS platform.

In its latest report, Apple reveals some significant details regarding its efforts.

In 2020 alone, Apple’s combination of sophisticated technology and human expertise protected customers from more than $1.5 billion in potentially fraudulent transactions, preventing the attempted theft of their money, information, and time — and kept nearly a million risky and vulnerable new apps out of their hands.

Apple also says it blocked some 48,000 apps for having hidden or undocumented features; 150,000 apps for including spam, being copycats or misleading users; and 215,000 for privacy violations.

The company is also tackling fraudulent app ratings.

App Store ratings and reviews help many users make decisions about which apps to download, and developers rely on them to incorporate new features that respond to user feedback. Apple relies on a sophisticated system that combines machine learning, artificial intelligence, and human review by expert teams to moderate these ratings and reviews to help ensure accuracy and maintain trust. Since 2020, Apple has processed over 1 billion ratings and over 100 million reviews, and over 250 million ratings and reviews were removed for not meeting moderation standards.

While the Apple vs Epic court case will continue for some time, Apple is certainly trying to make a compelling case for how the App Store works and why it’s so important to the iOS ecosystem.

SpaceX Accepts Dogecoin for Upcoming Mission

Matt Milano
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0
SpaceX Accepts Dogecoin for Upcoming Mission

In its continuing journey from meme to legitimate cryptocurrency, dogecoin will be used to pay for an upcoming SpaceX mission.

Although it was originally started as a joke, dogecoin is gaining acceptance as a legitimate cryptocurrency. In early May it surged to a $70 billion market cap, making it the fourth most valuable crypto. Meanwhile, Dallas Mavericks owner Mark Cuban announced the NBA team would accept it as payment.

Elon Musk has arguably been the biggest support of dogecoin, and his SpaceX company has now accepted it as payment for an upcoming mission to the Moon, called “DOGE-1 Mission to the Moon.” Canadian company Geometric Energy Corporation has paid SpaceX to transport a 40kg satellite. The transaction was made exclusively with dogecoin.

“Having officially transacted with DOGE for a deal of this magnitude, Geometric Energy Corporation and SpaceX have solidified DOGE as a unit of account for lunar business in the space sector,” said Geometric Energy’s Chief Executive Officer Samuel Reid.

“This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce,” said SpaceX Vice President of Commercial Sales Tom Ochinero. “We’re excited to launch DOGE-1 to the Moon!”

*Author holds a very small amount of Dogecoin that in no way influenced this article.

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