8 Crypto News You Probably Missed This Weekend! – Mag Mirror

FTX CEO Donates His Fortune, Investment Banks Predict Bright Future for Crypto, and Can Bitcoin Price Hit $1 Million? These stories and more this week in crypto.

The CEO of FTX is going to donate his winnings.

The CEO of cryptocurrency exchange FTX plans to give away the majority of his fortune. Sam Bankman-Fried is one of the richest people in the world and will now only keep 1% of his earnings, while the remaining 99% will be donated to charity. According to Forbes, Bankman-Fried’s current net worth is $24 billion.

BoA: Cryptocurrencies will outperform bonds and stocks.

The chief strategist of Bank of America explained in a weekly financial note to clients that the US economy is heading into a recession and cryptocurrencies could outperform bonds and stocks. Michael Hartnett said the macroeconomic picture is rapidly deteriorating as the Federal Reserve tightens monetary policy to control inflation.

JPMorgan: DeFi and Blockchain are real

Wall Street investment bank JPMorgan is convinced that DeFi and blockchain technologies are at the forefront of innovation, according to a letter from its CEO Jamie Dimon to shareholders. He writes that decentralized finance and blockchain are new and real technologies and that the company is already using blockchains to share complex information and move tokenized US dollars with its JPM Coin.

OpenSea allows NFT purchases with credit cards

Buyers on OpenSea, one of the world’s leading marketplaces for non-fungible tokens, will soon be able to pay for NFTs with a credit card, debit card or Apple Pay. This initiative is the result of a partnership with MoonPaya fintech company that is building payments infrastructure in the crypto space, in an effort to attract more mainstream buyers for NFTs.

Starbucks will enter the NFT business

The CEO of Starbucks, Howard Schultz, announced that the coffeehouse chain will enter the NFT sector by the end of 2022 and believes that Starbucks is in a unique position to succeed. According to Schultz, the chain is equipped with the resources and knowledge necessary to establish itself in the virtual ecosystem, from collectibles to the entire estate of the company.

Kraken leaves San Francisco

Kraken CEO Jesse Powell announced that he made the decision to close Kraken’s global headquarters in San Francisco after scores of employees were attacked, harassed and robbed on their way to and from the office. Coinbaseanother US-based cryptocurrency exchange, had already announced last year that it would also close its San Francisco headquarters in 2022.

Cardano will give Ethiopians digital identities

Cardano’s long-running project to give young Ethiopians ownership of their digital identities is progressing, with the first pilot completed. The Cardano team is currently training the Ministry of Education on how to use the system and expects at least 800,000 decentralized identities and digital credentials to be issued to students by the end of the year.

Wood confirms price target of $1 million in BTC

Cathie Wood, Founder ofARK Invest, says banks have a “big problem” thanks to cryptocurrencies. According to her, the level of investor interest in decentralized finance could threaten the traditional banking world. At the Bitcoin 2022 conference in Miami, Ms. Wood also reiterated her prediction that one bitcoin will cost $1 million by 2030.

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8 Crypto News You Probably Missed This Weekend! – Mag Mirror

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