Category: Cryptocurrencies

Chipotle Launches "Buy the Dip" Game, Adds Crypto Payments

So far, 2022 has proven to be a tumultuous year for cryptocurrencies. Not only have individual investors felt some pain as prices for numerous assets have taken some tumbles but some crypto-centric firms have even had to lay off staff or file for bankruptcy. But, despite so-called "crypto winter" in effect, one popular restaurant is taking the opporunity to further embrace cyrpto — while also poking a bit of fun...

Crypto Lender Celsius Files for Chapter 11 Bankruptcy Protection

Following a turbulent month, the crypto lender Celsius has announced that it's filed for Chapter 11 bankruptcy protection. According to CNBC, the company has more than 100,000 creditors, including individual customers. The filing also notes that the company has $167 million in cash on hand as it continues to operate. In a statement, Celsius co-founder and CEO Alex Mashinsky said of the filing, “This is the right decision for our...

Abra Announces Crypto Card to Operate on American Express Network

Despite a recent rash of bad news, crypto-centric startups are continuing to press forward. Among them, the trading platform Abra just announced plans to launch a crypto rewards credit card. What's more, in a twist from other offerings, this product will be an American Express card. According to Abra, their upcoming card will earn crypto back on any purchase category. These crypto rewards will then be tradable, allowing users to...

PayPal Adds Support for External Cryptocurrency Wallet Transfers

Back in October 2020, PayPal made headlines by adding cryptocurrency trading to its immensely popular platform. Then, in March of last year, the company expanded its efforts by introducing Checkout with Crypto — a feature that allowed PayPal users to easily pay for purchases using supported crypto assets. Now, the service is doubling down once again, adding the ability for customers to send and receive coins using external wallets. In...

Gemini Founders Declare "Crypto Winter," Announce Staff Downsizing

Recent weeks have not been kind to the cryptocurrency market. With Bitcoin trading at around $30,000 per coin, its value is about half of record highs. Similarly, prices for other assets have tumbled as well. In turn, several companies in the crypto space have reported lower earnings. Now, Gemini founders Cameron and Tyler Winklevoss have announced staff layoffs amid what they're called a "crypto winter." In a blog post, the...

Crypto Tax Platform ZenLedger Raises $15 Million

For years, the tax situation regarding cryptocurrencies has been a bit of a hot topic. In particular, despite not always providing the best guidance, the IRS has repeatedly upped its enforcement of crypto tax rules — even moving a question about crypto to a very prominent spot on the agency's Form 1040. Now, a startup that specializes in crypto taxes has revealed a new round of funding that will help...

Robinhood Announces Non-Custodial Web3 Crypto Wallet

After finally rolling out a crypto wallets feature in their trading app and recently listing four additional assets, Robinhood plans to double down on cryptocurrency once again. In a blog post, the company announced that it was developing a non-custodial, web3 wallet. Once launched, this wallet will give users greater total control of their crypto as well as provide access to other decentralized web features. Most notably, while this offering...

Crypto-Backed Card Wirex Celebrates Milestone in U.S. Registrations

It looks as though Wirex is taking a victory lap after a successful entry into the United States market. Today, the platform announced that 150,000 people have registered for the crypto app since it launched in the U.S. a mere six weeks ago. This figure adds to the more than 5 million users Wirex already has across Europe and Asia. Wirex's U.S. app allows users to trade and hold 37...