The Fed agreed to a policy allowing inflation to run between 2.25% and 2.5% annually, causing a number of companies to move reserves into cryptocurrency as a hedge against the new policy. Citing faltering confidence in the US Dollar, Gemini Exchange co-founder Tyler Winklevoss made the case for a 500 thousand dollar bitcoin, describing the cryptocurrency as “the only long term protection against inflation”.
In 2019, Paypal, previously the preferred payout method for the adult industry, blocked adult sites from using its services to compensate performers. In response to the decision, Pornhub was one of the first companies to offer cryptocurrency as a payout option for adult industry workers. With the addition of bitcoin and litecoin as payment options for consumers, observers note that the change signals a larger adoption of cryptocurrency in the adult industry.
Swiss, German, Austrian stock exchanges list Bitcoin
Swiss asset management company 21Shares announced this week that its new products, ABTC and SBTC, are now available for trading on the three leading exchanges of the DACH economic bloc. With 11 total crypto-related ETP’s available, the management firm’s Short BTC product is the first to offer investors the opportunity to capitalize on negative bitcoin price movements on a regulated exchange.
Ripple Labs Inc., the firm behind the XRP cryptocurrency is being sued in Australian court for allegedly infringing upon a trademark belonging to The New Payments Platform Australia. The NPPA is seeking both damages and a permanent injunction preventing Ripple from using the PayID brand in Australia; in an initial hearing, Ripple tentatively agreed to geoblock it’s PayID service from the Australian market.
Revolut adds Bitcoin Cash support for US Customers
U.S. company Revolut added support for Bitcoin Cash and Litecoin to its cryptocurrency exchange, which was launched earlier this year. During the announcement, the company stated its goal of creating a comprehensive financial application that would provide customers with checking account services, budgeting tools, and instant P2P payments.
Want to change how you receive emails from us?You can update your preferencesorunsubscribe. Saint Bitts, LLC, 858 Zenway Blvd, P.O. Box 1830, Frigate Bay, Saint Kitts and Nevis
