🪙 Coins… PayPal said it’s adding PYUSD, its recently launched stablecoin, to Venmo. With a market cap of $44M, PYUSD’s been slow to gain traction. Venmo, which as of last year had 90M US accounts, could help the coin grow market share.
🌶️ Spicy… FTX sued Sam Bankman-Fried’s parents, alleging the two misappropriated millions in funds. The suit says SBF’s dad received a $10M gift from his son in 2022 after asking him to raise his $200K/year FTX salary.
🤖 Techy… Traditional-finance heavyweight Citigroup said it’ll offer some customers the ability to tokenize their deposits (picture: digi assets representing account balances) on a private blockchain, which would allow for faster transfers.
Latest Stories
Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.