Crypto World Weekly Update #1

Sepehr Vafaei

Paypal, a digital payment platform, announced UK customers can buy, hold, and sell cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash using a connected bank account or debit card.

Cuba will recognize and regulate cryptocurrencies. The central bank will set new rules to deal with the new situation. Crypto-related services with commercial purposes need the approval of the central bank.

Last week, Visa purchased a CrytoPunk NFT for $150000. There is confusion regarding the value of NFTs in the market. For example, Budweiser purchased Life of the Party NFT for $25000 in ETH. It is now Budweiser's profile picture on Twitter. Budweiser also registered "Beer.eth" domain for $96000 in ETH for its future decentralized website.

The mayor of Cool Valley, a small town in Missouri, U.S., wants to give the residents $1000 in BTC with the requirement of holding the amount in the hope of a price increase that would benefit everyone.

In SEC filings, Morgan Stanley has just reported owning a large amount of Grayscale Bitcoin across multiple portfolios. The largest of these appears to be 928,051 shares held by Morgan’s Insight Fund.

MicroStrategy, a business intelligence company, made another big purchase of Bitcoin, worth nearly $200 million bringing its total holdings to nearly 109,000 Bitcoins.

According to police reports, a scammer in Turkey with the online pseudonym “Turgut V” has stolen $119 million from 1500 investors with the promise of huge returns from mining operations.

Substack has started accepting Bitcoin both on-chain and through Lightning Network using OpenNode, a payment processor, for some selected publications including Willy Woo’s newsletter, The Bitcoin Forecast, and The Held Report by Dan Held. But they have noted that this is just the beginning.

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