This week in crypto, we have a very expensive cat, new IRS forms, and a preview of what Akon City will look like.
Over the weekend…
ING Bank, Anheuser-Busch InBev, Rolls Royce, and Multi.io joined the Blockchain Education Alliance, which now houses 26 members. The alliance’s mission is to educate students on the skills it takes to help the blockchain ecosystem.
Paris Hilton sold a digital painting of her cat for 40 ETH — that’s almost $17,000. The auction was held through Cryptograph.
Bitcoin surpassed Bank of America’s market cap. Remember when we mentioned they were close last week? It also caught up to and passed that of New Zealand’s fiat currency.
Robinhood raised $200 million in its series G funding round, which means the trading app is now valued at $11.2 billion. The investment will be used to improve the product and user experience.
The Colibra app, a new Bulgarian startup, pays flyers whose flights have been delayed for at least an hour. Passengers can choose whether they want to be compensated on a locked price or real-time price.
Turkish terminal conglomerate, YILPORT Holding, joined IBM’s and Maersk’s blockchain shipping platform, TradeLens. YILPORT Holding has 28 terminals across 11 countries.
Goldman Sachs is looking for a new Vice President for its Digital Assets department. The team is based in London and the decision follows the recent hire of Matthew McDermott as the Global Head of Digital Assets.
BitFlyer USA will be entering Hawaii through their new Digital Currency Innovation Lab. This lab will give crypto companies 2 years to operate without a license as a sandbox program and will provide regulators and corporations a chance to work together to come up with suitable regulation.
A Canadian Middle Eastern restaurant chain converted all of its reserves into Bitcoin. The chain will also accept Bitcoin payments.
Akon and Jon Karas spoke to Cointelegraph on how Akon City will operate. After completion in 2030, blockchain will have been integrated within the whole city to create a seamless living experience: blockchain powered tolls, comprehensive crypto payments, governance, etc.
Uniper Global Commodities SE implemented a blockchain solution into improve natural gas trading. They developed this platform to decrease supply chain costs while incrementing time efficiency through digital documents exchange and real-time information sharing and alerts.
The United States Acting Comptroller of the Currency was recently interviewed by CNN and spoke about incorporating blockchain technology to improve banking services. He explored the possibility of CBDCs as a method of faster payment, expressing that banking needs to keep up with innovation.
The IRS’s new tax forms will now take crypto into account. The updated 1040 form asks, “At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?”
For more information on these stories, visit:
Blockchain Education Alliance: https://www.coindesk.com/ing-bank-rolls-royce-mousebelt-blockchain-education
Paris Hilton’s cat: https://decrypt.co/38969/paris-hilton-sells-ethereum-based-artwork-for-17000
Canadian Middle Eastern restaurant: https://cointelegraph.com/news/middle-eastern-restaurant-chain-converts-entire-reserves-to-btc
Uniper Global Commodities SE: https://www.entrepreneur.com/article/355084