Plus... will PayPal face the same regulatory hurdles as Facebook as it explores plans to launch its own stablecoin?
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CoinMarketRecap, hosted by Connor Sephton, aims to break down the week's crypto news in a fun and accessible way.
Research continually shows that consumers find cryptocurrencies difficult to understand — and we're determined to change that.
News Roundup: PayPal, Kim Kardashian, Elon Musk
We've got loads of news to discuss for the first episode of our brand-new series.
Bitcoin has had the worst start to the year since 2012 — briefly dipping below $40,000 this week. The Federal Reserve's plans to increase interest rates, and unrest in Kazakhstan, have both played a role here. Just 5% of JPMorgan clients now believe that BTC can reach $100,000 by the end of the year… and El Salvador has suffered paper losses of about $15 million at current prices.
CoinMarketCap's Molly Jane Zuckerman also joins us to discuss some of this week's other crypto headlines. PayPal has confirmed it is considering its own stablecoin. Will the payments platform face the same regulatory hurdles as Facebook has with Diem… and does the crypto market need yet another digital asset that's pegged to the U.S. dollar?
Plus, three A-listers — Kim Kardashian, Floyd Mayweather and Paul Pierce — are being sued after endorsing the Ethereum Max token. They're accused of colluding with the cryptocurrency's co-founders to engage in a pump and dump — leaving investors out of pocket.
And last but by no means least, an open letter has urged Elon Musk and Tesla to reconsider their stance towards crypto. But is 50% of the energy used by BTC miners now coming from renewable sources, as Musk had demanded… and is there any sign of the electric vehicle manufacturer accepting the cryptocurrency as a payment method again?
