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☆ Crypto.com's Exchange, Sponsorships, and Commercials, Explained
  + stars: | 2024-05-28 | by ( Emily Stewart | ) www.businessinsider.com   time to read: +12 min
(That's not a knock on the company — for a lot of crypto exchanges, the Empire State is a tough nut to crack.) Crypto.com's primary business is its cryptocurrency exchange, which works as a middleman for people buying and selling crypto, but it also offers other products, including crypto Visa cards. To be sure, the casino thing could be said about most crypto exchanges — and sports-betting apps, and many regular trading apps. It's a good reminder that, whatever the company, it's better to use exchanges only for trading your crypto assets, not for storing them. Or maybe in five years we'll be looking back at this moment and saying: "Remember that one crypto company?
Persons: Eminem, Sam Bankman, Crypto.com doesn't, Jojo Siwa, it's, He'd, Nic Carter, Crypto.com, Kris Marszalek, Foris DAX Asia, It's, Matt Damon, Steven Kalifowitz, Bill Clinton, Tony Blair, FTX, hasn't, Marszalek, wasn't, Alex Gladstein, Emily Stewart Organizations: NBA, Los Angeles Lakers, It's, UFC, NASCAR, Lakers, Castle, Ventures, Staples Center, Miami Heat's, Binance's, Forbes, Financial Times, Securities and Exchange Commission, Bloomberg, PayPal, JPMorgan doesn't, Human Rights Foundation, Business Locations: New York, America, Singapore, Nigeria, Bulgaria, Monaco, Hong Kong, Polish, Los Angeles, Bahamas, Netherlands, Asia, Americas
☆ Bitcoin is poised to blow up Africa's $86 billion banking system
  + stars: | 2023-03-26 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +16 min
Then there's mobile money, which has been around since the early 2000s. Africa's mobile money transactions rose 39% to more than $700 billion in 2021, according to data from the GSM Association, a non-profit representing mobile network operators worldwide. That cash network was extraordinarily difficult and expensive to build, which is why there aren't a lot of direct competitors. Bitnob is SMS-based and piggybacks on the mobile money system, making it easier for people to send money directly into bank accounts and mobile money wallets in African countries. "We're able to settle into bank accounts or mobile money accounts, without the recipients having to interact with bitcoin themselves," Parah tells CNBC.
☆ How this 26-year-old went from running bitcoin trading desks in Taco Bells to creating the largest crypto exchange in Africa
  + stars: | 2023-03-25 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +28 min
Yellow Card CEO Chris Maurice just before meeting with the Securities and Exchange Commission in Accra, Ghana. Chris MauriceFrom there, Yellow Card users can send or receive digital cash in eligible markets. Zoom In Icon Arrows pointing outwards Yellow Card CEO Chris Maurice in Accra, Ghana loading cash onto his Mobile Money account, MoMo. Yellow Card has facilitated $1.75 billion in transactions since launching in 2019 and has about 220 employees – mostly in Africa. A resident checks his phone outside a mobile money kiosk in the Kibera district of Nairobi, Kenya, on Monday, Aug. 1, 2022.
☆ Bitcoin still has a big opportunity in payments despite 60% drop this year and choppy waters ahead
  + stars: | 2022-12-30 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +9 min
Investors are constantly reminded that despite the myriad coins, projects and innovations in crypto, bitcoin may be the only "safe" crypto asset to buy. And while Tesla didn't credit the volatility for its reversal, many observers saw it as evidence that the belief in bitcoin's payments capabilities were misguided. "Bitcoin's price on any given day — as a remittance vehicle — has no effect on us," he said. The group that runs the Lightning Network, a payment protocol built on the Bitcoin network, is committed to making Bitcoin network payments even faster, less costly and more readily confirmed than transactions made directly on the Bitcoin blockchain. Crypto investors, on the other hand, were "disproportionately high-income, almost always had a traditional banking relationship, and typically had other retirement savings."
☆ In bankrupt Lebanon, locals mine bitcoin and buy groceries with tether, as $1 is now worth 15 cents
  + stars: | 2022-11-05 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +32 min
Others arrange clandestine meetings via Telegram to swap the stablecoin tether for U.S. dollars in order to buy groceries. In Jan., police raided a small crypto mining farm in the hydro-powered town of Jezzine, seizing and dismantling mining rigs in the process. But mining crypto tokens to earn a living is not for everybody. Younes tells CNBC that he initially moved 15% of his money into bitcoin, and he kept the remaining balance in cash. Lebanon has six bitcoin ATMs — one in Aamchit and five in Beirut, according to metrics offered by coinatmradar.com.
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