Ethereum hits new record, Coinbase authorizes loans of up to $ 1 million, and filmmakers and fast food chains are tapping into the crypto space. These stories and more this week in crypto.
The price of Ethereum hit a new all-time high at the start of the week following announcements from institutional players. CME will issue micro ETH futures in addition to existing micro BTC futures which are offered at one-tenth the size of the original contracts. While Bakkt will expand its cryptocurrency offering to include Ethereum.
Popular crypto exchange Coinbase announced that eligible U.S. customers can now borrow up to $ 1 million using Bitcoin as collateral. Individuals can borrow up to 40% of the value of their BTC, with no credit checks or fees, and funds can be quickly transferred to attached PayPal or bank accounts.
Michael Saylor of MicroStrategy is now an Official Bitcoin Billionaire. According to a recent earnings report, Saylor personally owns over 17,000 bitcoins, which are currently worth over $ 1 billion. In addition, his company owns more than 114,000 units, which are now worth more than $ 7 billion.
El Salvador is building 20 so-called Bitcoin Schools with profits from the country’s Bitcoin Trust. The new schools will support the expansion of crypto by educating locals about the essentials of cryptocurrency. Citizens can track their government’s bitcoin purchases and earnings by following a government-run Twitter profile called El Salvador BTC.
The mayors of New York and Miami are in an uphill battle over their belief in Bitcoin. Miami Mayor Francis Suarez said he would take his next paycheck entirely in bitcoin, while New York City Mayor-elect Eric Adams responded by saying he would accept his next three paychecks in BTC when he becomes mayor and wants NYC. to be the center of the cryptocurrency industry.
Influential director Quentin Tarantino offers seven deleted scenes from his classic film, Pulp Fiction, as non-fungible tokens. NFTs of handwritten scripts and exclusive comments will be auctioned on the OpenSea marketplace. At the same time, another filmmaker, Warner Bros., will also be releasing non-fungible token (NFT) collectibles for the upcoming movie “The Matrix Resurrections”. 100,000 Matrix NFT avatars will be deleted with the Blue Pill and Red Pill options. If they take the “blue pill” the owners of NFT avatars will remain in the matrix, but if the “red pill” is taken, the NFTs will transform.
McDonald’s creates its very first non-fungible token in honor of McRib’s 40th birthday. As part of the competition, ten candidates will be selected on Twitter to receive the NFTs. Meanwhile, its rival Burger King is collaborating with the Robinhood trading platform to offer 20 bitcoins, 200 ethers and 2 million dogecoins. Members of the Burger King US Loyalty Program who spend more than $ 5 on the restaurant app will be eligible. Promotions from both companies require winners to have digital wallets in order to receive their prizes.
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That’s what happened this week in crypto, see you next week.