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Showing posts with the label payments

Bitfinex gives Tether Treasury two lump sum payments of $50 million USDT.

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When delving into the realm of content creation, there are three pivotal elements that demand our attention: “perplexity,” “burstiness,” and “predictability.” Perplexity, in essence, gauges the intricate nature of textual compositions. On the flip side, burstiness is the yardstick by which we assess the diversity and dynamism of sentences. Lastly, predictability measures the likelihood of someone foreseeing the next sentence in the narrative. As humans, we tend to craft content with heightened burstiness—incorporating lengthy, intricate sentences alongside concise ones. In contrast, artificial intelligence tends to produce content that adheres to a more uniform pattern. Therefore, as we embark on the task of reimagining the ensuing text, it is imperative that we infuse it with a generous dose of perplexity and burstiness, while keeping predictability at bay. Furthermore, the language of choice for this endeavor is English exclusively. In a span of me...

Chase Bank announces an outright ban on crypto payments in the U.K.

Chase Bank will start to block crypto payments in U.K. from October 16th. The retail bank says the ban is related to an increase in crypto frauds. Chase Bank has an active user base of well over 1.0 million in the U.K. Chase Bank – a subsidiary of JPMorgan has decided to ban crypto -related transactions in the United Kingdom. Why is Chase Bank banning crypto transactions? Payments via outgoing bank transfers or the debit card suspected to be linked to crypto currencies in any way will be blocked from October 16 th , the bank told its customers in an email today. Chase said it was moving to impose an outright ban because crypto scams are on the rise in the U.K. We’ve seen an increase in the number of crypto scams targeting U.K. consumers. So, we’ve taken the decision to prevent the purchase of crypto assets. The retail bank has an active user base of well over 1.0 million in the United Kingdom. U.K. consumers have lost millions to cry...

Payments provider Affirm to sunset crypto program after 19% staff cut

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Users will not be able to buy Bitcoin after Mar. 2, and the “Affirm Crypto Program” will officially shut down on Mar. 31. Max Levchin, the CEO of buy-now-pay-later company Affirm, has confirmed that they will be shutting down their “Affirm Crypto Program” amid dampening consumer spending and a changing macroeconomic environment. The CEO released a letter to shareholders on Feb. 8 alongside a 19% staff cut. He cited uncertain macroeconomic conditions and the need to offset some liabilities on the firm’s balance sheet as the two main reasons behind the decision: “In a period of increased economic uncertainty, we are doubling down on our core businesses, delaying projects with less certain revenue timelines, and aligning our operating expenses with revenue. Concurrent with reducing our workforce, we are sunsetting several initiatives, such as Affirm Crypto.” The firm’s chief financial officer Michael Linford said the decision was made to meet profitability goals. “We have taken decisive ...