Happy Tuesday, Blockfolians
The Lede
When PayPal announced crypto buying and selling last year, many thought that the even spicier detail was that they would be bringing crypto payments to their millions of global merchants.
Importantly, they were doing it in a way that abstracted away all the complexity for those merchants (as well as the crypto-paying consumers on the other side) and made the transaction just work.
Today, those features start to roll out. There are some issues (taxes, anyone?) but it’s impossible to deny that it’s another seminal moment on the path of mainstream crypto adoption.
“We think it is a transitional point where cryptocurrencies move from being predominantly an asset class that you buy, hold and or sell to now becoming a legitimate funding source to make transactions in the real world at millions of merchants.”
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Highly Relevant Reading
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Tether’s first reserve attestation has been released
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A former SEC officer is joining Coinbase
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The UK Tax Authority has updated its crypto guidance
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CME is launching micro-bitcoin futures
Community Commentary
This FUD gets less and less viable every day
But but but but but the narrative keeps changing /s
A Really Big Number We Should Be Paying Attention To
$305,000,000
That’s the size of Dapper Labs latest round, valuing the NBA Top Shot company at $2.6B and including investors like Kevin Durant and Michael Jordan
Final Thought
Well hello there
