‘NFT in Peace’ WWE Presents The Undertaker NFTs Ahead Of WrestleMania

The World Wrestling Entertainment announced today it will create the corporation’s first-ever non-fungible tokens (NFTs) representing legendary moments from the career of one of the most iconic fighters – The Undertaker. The four-tier drop will be launched ahead of the company’s biggest event this Saturday, April 10th – WrestleMania.

The Deadman as an NFT

WWE announced it will release non-fungible tokens featuring Mark William Calaway, better know by his ring name, The Undertaker. The legendary ex-superstar NFTs, who retired from professional wrestling last year, will be one of the spotlights of this year’s Wrestlemania.

The auction will open this Saturday at 10:30 AM ET. The drop is supposed to be met with significant interest and will last for 37 hours. The end will be on Sunday, April 11th, at 11:30 PM ET.

The Undertaker NFTs will be offered in four tiers – Platinum, Gold, Silver, and Bronze. The Platinum and Gold will have minimum open bids of respectively $10,000 and $5,000, while the other two will have fixed prices – $1,000 for the Silver and $100 for the Bronze.

The top option would also provide VIP access, hotel accommodations, a personalized video message from the superstar, as well as a unique WWE Championship Title Belt.

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The Gold one – would get the winner two front-row-seat tickets at a Monday Night Raw or Friday Night SmackDown of their choice in 2021 or 2022, a personalized video message, and a signed Title Belt.

The Silver and Bronze tiers would provide more limited benefits to the winners.

World Wrestling Entertainment has partnered with Bitski for the project. With this being announced, it means participants will need to have a Bitski account, and winners will receive NFTs in their wallets.

The Undertaker. Source: BBC
The Undertaker. Source: BBC

The Expansion of NFT

Non-fungible tokens have been a hot topic recently as they have enjoyed mass acceptance and adoption from various celebrities and industries.

As CryptoPotato recently reported, the US Major League Baseball team Toronto Blue Jays explored options to take advantage of non-fungible tokens. The team’s President and CEO confirmed the move by indicating that it should enhance fan interest in the sport.

Another fresh example of the increased popularity of NFT is Lindsay Lohan’s plan to release an exclusive NFT collection. The famous American actress reaffirmed her support for non-fungible tokens by partnering with TRON to launch personalized digital art products.

In his turn, the founder of TRON and the CEO of BitTorrent, Justin Sun, went even further. Recently, he bought a painting by Picasso for $20 million, and he intended to tokenize it through the JUST NFT Fund.

Featured Image Courtesy of Wrestling Edge

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SnackMagic picks up $15M to expand from build-your-own snack boxes into a wider gifting marketplace

The office shut-down at the start of the Covid-19 pandemic last year spurred huge investment in digital transformation and a wave of tech companies helping with that, but there were some distinct losers in the shift, too — specifically those whose business models were predicated on serving the very offices that disappeared overnight. Today, one of the companies that had to make an immediate pivot to keep itself afloat is announcing a round of funding, after finding itself not just growing at a clip, but making a profit, as well.

SnackMagic, a build-your-own snack box service, has raised $15 million in a Series A round of funding led by Craft Ventures, with Luxor Capital also participating.

(Both investors have an interesting track record in the food-on-demand space: Most recently, Luxor co-led a $528 million round in Glovo in Spain, while Craft backs/has backed the likes of Cloud Kitchens, Postmates and many more).

The funding comes on the back of a strong year for the company, which hit a $20 million revenue run rate in eight months and turned profitable in December 2020.

Founder and CEO Shaunak Amin said in an interview that the plan will be to use the funding both to continue growing SnackMagic’s existing business, as well as extend into other kinds of gifting categories. Currently, you can ship snacks anywhere in the world, but the customizable boxes — recipients are gifted an amount that they can spend, and they choose what they want in the box themselves from SnackMagic’s menu, or one that a business has created and branded as a subset of that — are only available in locations in North America, serviced by SnackMagic’s primary warehouse. Other locations are given options of pre-packed boxes of snacks right now, but the plan is to slowly extend its pick-and-mix model to more geographies, starting with the U.K.

Alongside this, the company plans to continue widening the categories of items that people can gift each other beyond chocolates, chips, hot sauces and other fun food items, into areas like alcohol, meal kits, and non-food items. There’s also scope for expanding to more use cases into areas like corporate gifting, marketing and consumer services, and analytics coming out of its sales.

Amin calls the data that SnackMagic is amassing about customer interest in different brands and products “the hidden gem” of the platform.

“It’s one of the most interesting things,” he said. Brands that want to add their items to the wider pool of products — which today numbers between 700 and 800 items — also get access to a dashboard where they monitor what’s selling, how much stock is left of their own items, and so on. “One thing that is very opaque [in the CPG world] is good data.”

For many of the bigger companies that lack their own direct sales channels, it’s a significantly richer data set than what they typically get from selling items in the average brick and mortar store, or from a bigger online retailer like Amazon. “All these bigger brands like Pepsi and Kellogg not only want to know this about their own products more but also about the brands they are trying to buy,” Amin said. Several of them, he added, have approached his company to partner and invest, so I guess we should watch this space.

SnackMagic’s success comes from a somewhat unintended, unlikely beginning, and it’s a testament to the power of compelling, yet extensible technology that can be scaled and repurposed if necessary. In its case, there is personalization technology, logistics management, product inventory and accounting, and lots of data analytics involved.

The company started out as Stadium, a lunch delivery service in New York City that was leveraging the fact that when co-workers ordered lunch or dinner together for the office — say around a team-building event or a late-night working session, or just for a regular work day — oftentimes they found that people all hankered for different things to eat.

In many cases, people typically make separate orders for the different items, but that also means if you are ordering to all eat together, things would not arrive at the same time; if it’s being expensed, it’s more complicated on that front too; and if you’re thinking about carbon footprints, it might also mean a lot less efficiency on that front too.

Stadium’s solution was a platform that provided access to multiple restaurants’ menus, and people could pick from all of them for a single order. The business had been operating for six years and was really starting to take off.

“We were quite well known in the city, and we had plans to expand, and we were on track for March 2020 being our best month ever,” Amin said. Then, Covid-19 hit. “There was no one left in the office,” he said. Revenue disappeared overnight, since the idea of delivering many items to one place instantly stopped being a need.

Amin said that they took a look at the platform they had built to pick many options (and many different costs, and the accounting that came with that) and thought about how to use that for a different end. It turned out that even with people working remotely, companies wanted to give props to their workers, either just to say hello and thanks, or around a specific team event, in the form of food and treats — all the more so since the supply of snacks you typically come across in so many office canteens and kitchens were no longer there for workers to tap.

It’s interesting, but perhaps also unsurprising, that one of the by-products of our new way of working has been the rise of more services that cater (no pun intended) to people working in more decentralised ways, and that companies exploring how to improve rewarding people in those environments are also seeing a bump.

Just yesterday, we wrote about a company called Alyce raising $30 million for its corporate gifting platform that is also based on personalization — using AI to help understand the interests of the recipient to make better choices of items that a person might want to receive.

Alyce is taking a somewhat different approach to SnackMagic: it’s not holding any products itself, and there is no warehouse but rather a platform that links up buyers with those providing products. And Alyce’s initial audience is different, too: instead of internal employees (the first, but not final, focus for SnackMagic) it is targeting corporate gifting, or presents that sales and marketing people might send to prospects or current clients as a please and thank you gesture.

But you can also see how and where the two might meet in the middle — and compete not just with each other, but the many other online retailers, Amazon and otherwise, plus the consumer goods companies themselves looking for ways of diversifying business by extending beyond the B2C channel.

“We don’t worry about Amazon. We just get better,” Amin said when I asked him about whether he worried that SnackMagic was too easy to replicate. “It might be tough anyway,” he added, since “others might have the snacks but picking and packing and doing individual customization is very different from regular e-commerce. It’s really more like scalable gifting.”

Investors are impressed with the quick turnaround and identification of a market opportunity, and how it quickly retooled its tech to make it fit for purpose.

“SnackMagic’s immediate success was due to an excellent combination of timing, innovative thinking and world-class execution,” said Bryan Rosenblatt, principal investor at Craft Ventures, in a statement. “As companies embrace the future of a flexible workplace, SnackMagic is not just a snack box delivery platform but a company culture builder.”

Weekly Roundup: Crypto Market Cap Hits $2T, ICE3X Ceases Operations

Jack Dorsey’s NFT tweet will help the poor in East Africa through an upcoming bitcoin donation. To learn more about this developing story and other news, keep reading.

Jack Dorsey’s NFT Tweet to Help the Poor in East Africa

As the non-fungible token (NFT) craze continues, Jack Dorsey is auctioning his first tweet on Twitter as an NFT. Dorsey posted this tweet on May 6, 2006. The auction is taking place on Valuables and will end on March 21, 2021.

Jack Dorsey NFT Tweet

Dorsey has tweeted he will convert the proceeds of this auction to bitcoin and donate them to GiveDirectly. This is a non-profit organization that seeks to end extreme poverty in East Africa. Donations sent to GiveDirectly benefit people in Kenya, Rwanda, and Uganda.

Currently, the highest bidder of this NFT tweet was a Twitter user with the handle @sinaEstavi. He outbid Tron CEO Justin Sun, who had bid $1 million. Estavi bid $2.5 million.

Valuables wrote: “The tweet itself will continue to live on Twitter. What you are purchasing is a digital certificate of the tweet, unique because it has been signed and verified by the creator. Owning any digital content can be a financial investment, hold sentimental value, and create a relationship between collector and creator. Like an autograph on a baseball card, the NFT itself is the creator’s autograph on the content, making it scarce, unique, and valuable.”

Uncertain Regulatory Environment Pushes Crypto Firms Out of South Africa

The uncertain regulatory environment is pushing crypto firms out of South Africa. According to an article on Business Tech, the MTI scam gave regulators in South Africa a jolt and some firms will not wait to see how the matter pans out from a regulatory standpoint.

These crypto firms are planning on moving to Singapore and the UK. That is because Singapore is redrawing legislation to attract crypto firms while the UK is getting requests to embrace cryptocurrencies.

Revix, a crypto investment platform that allows customers to invest in a bundle of cryptocurrencies, is moving its headquarters from Cape Town to the UK. The company is also considering setting up in Germany to scale its operations.

Luno is another crypto company with headquarters in the UK despite being owned by South Africans. The exchange also operates in Singapore.

South African regulators “have been incredibly slow in terms of regulation in the industry and that leads to businesses looking internationally. In an unregulated environment, a customer arrives at our platform with skepticism, and rightfully so,” said Revix CEO Sean Sanders in an interview.

According to Sanders, the uncertainty regarding potential regulation is also making it difficult for crypto firms to market their services on social media platforms thereby limiting growth.

Binance CEO CZ Among the Top Blockchain Billionaires in 2021

Binance CEO, Changpeng Zhao (CZ), is among the top blockchain billionaires in 2021 according to the latest Hurun global list. CZ and 16 other billionaires have cumulative wealth of US$ 77 billion. These billionaires have generated their wealth from running crypto exchanges, investing in cryptocurrencies, and mining crypto.

After facing a price correction in 2018, crypto billionaires are enjoying a boost in their wealth thanks to the recent bull run.

The top five billionaires are Brian Armstrong of Coinbase, Sam Bankman-Fried of FTX, Changpeng Zhao, Chris Larsen, and Jed McCaleb of Ripple. Their net worth is $11.5 billion, $10 billion, $8 billion, $5.1 billion, and $3.2 billion, in that order.

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The People’s Bank of China (PBOC) has expanded the trials of their CBDC to the Hainan Province from April 12 to April 25
the-peoples-bank-of-china-pboc-has-expanded-the-trials-of-their-cbdc-to-the-hainan-province-from-april-12-to-april-25

It is reported that from April 12 to April 25, the People’s Bank of China (PBOC) will expand the CBDC trial to Hainan province. This was the first event in an attempt to normalize cryptocurrencies across China. Now the People’s Bank of China has also conducted the test in other provinces.

Hainan Province announces its first-ever CBDC event in an attempt to normalize the digital currency across China

The Digital Currency Electronic Payment (DC/EP) is a fiat currency designed to replace a system of reserve money. Currently in the testing process, but CBDC is still gradually being adopted in China.

Members of the Sanya municipal government, including their employees, businesses, and permanent residents, will be the main participants of this trial. The trial will raise awareness for the digital yuan, foster secure transactions with wide accessibility. Additionally, participants in this trial will receive a 15% discount for every 100 yuan spent on the island.

While CBDC trials continued across China, cities like Chengdu and Beijing have shown promising success. The second batch of trials was announced in Shanghai, Trường Sa, Qingdao, Xi’an, and Dalian.

Currently, the digital yuan is in beta in China. It is being piloted as a retail CBDC. In the future, though, the central bank aims to be able to interact with other countries. The PBOC and the Hong Kong Monetary Authority are currently testing the digital yuan for cross-border use.

Besides, PBOC has included the affiliated banks of digital payments giants, AliPay and WePay, in their trials to increase adoption. Due to this partnership, users with WeBank and MyBank accounts can now access their money using PBOC apps running CBDC. AliPay and WePay together dominate more than 93% of the digital payments market in China.

There are currently 573.6 million users for digital payment platforms in China. This number is expected to increase to 618 million by 2025 showing huge potential for a shopping mall in this market.

USD 3 Trillion Corporation State Street Goes Crypto
USD 3 Trillion Corporation State Street Goes Crypto 101
Source: Adobe/Lubo Ivanko

US-based financial giant State Street aims to enter the crypto trading market in the middle of this year.

State Street’s trading platform Currenex, that was reportedly put for sale last year, partnered with London-based Puremarkets Ltd (Pure Digital) in order to develop a wholesale, multi-custodial digital currency trading platform, Puremarkets said today, adding that the partners “intend to further explore the digital currency trading space.”

“Pure Digital will be a fully automated, high throughput [over-the-counter] market for digital assets and cryptocurrencies with physical delivery and bank custody,” the company said.

According to them, institutional participants will trade on the platform utilizing bilateral credit enabling efficient capital utilization and control for all trading participants.

“The Pure Digital trading platform will be the first of its kind, offering a wholesale interbank market for Tier 1 investment banks to trade bitcoin and other digital assets. Pure Digital is in discussions with several other Tier 1 investment banks to use the platform, which will provide a high throughput OTC market for digital assets and cryptocurrencies with physical delivery and bank custody,” Norway’s digital asset-focused company Arcane Cryptosaid in a separate announcement. They indirectly own a 37.5% stake in Puremarkets.

At the end of 2020, State Street had USD 3.47trn in assets under management or 11% more than a year ago. However, their revenue dropped by 4%, to 2.9bn, and net income decreased by 5%, to USD 537m.

“While State Street rose to the challenges in 2020, we are laser-focused on fee revenue growth and expense management to continue to make progress in 2021 towards our medium-term targets. We are confident in the trajectory of our business and will continue to drive innovation, automation and productivity to achieve these goals,” Ron O’Hanley, Chairman and CEO of State Street, said.

Buying Opportunity? Investors Sentiment for Bitcoin and Ethereum Turns Short-Term Bearish

The recent adverse price developments for the top two cryptocurrencies by market cap have caused a mood swing among investors. Data shows that the crowd sentiment towards Bitcoin and Ethereum has dropped to extreme negativity as both assets slumped by about 10% in a few days.

Sentiment Towards BTC and ETH to New Lows

Bitcoin and Ethereum went through steep retracements in the past several days. The primary cryptocurrency failed to overcome $60,000 despite initiating several attempts, and the subsequent rejections drove it to a ten-day low of $55,500 yesterday.

ETH’s price performance seemed significantly more bullish. The second-largest digital asset reached a new ATH two days ago at $2,150. However, it also retraced heavily by losing more than $200 in the following 48 hours to a low of $1,940.

Despite recovering some ground since then, these developments have caused a massive mood swing among cryptocurrency investors. Data provided by the analytics company Santiment indicated that the general sentiment toward the two assets has “dropped to extreme negative territory.”

History shows that similar rapid mood changes could actually indicate a short-term market top or bottom. The graph above demonstrates that when the general sentiment was exceptionally high after price increases, as it happened in late January and mid-February, the trend reversed somewhat immediately.

Consequently, Santiment has classified the current negative state as a “bullish opportunity” for buyers.

Fear and Greed Says It’s Not That Bad

The Fear and Greed Index is another metric that could provide the investors’ sentiment towards the cryptocurrency field. It calculates various types of data, including surveys, social media, volatility, and volume, to determine whether the general mood is positive or negative towards Bitcoin.

The final results range between 0 (extreme fear) and 100 (extreme greed). Somewhat expectedly, the index was well in the extreme greed phase in the past few months, as BTC more than doubled its value since January 1st.

With BTC stuck beneath the $60,000 line, the index declined slightly, but it has still remained above 50 – meaning that it’s still in greed territory. This attests that the cryptocurrency space is prone to quick mood changes, which goes hand in hand with the highly volatile nature of all assets.

It’s worth noting that while prices have retraced slightly lately, BTC’s fundamentals have become even more robust. As reported earlier, Bitcoin’s network continues to increase its security as the hash rate marked yet another all-time high record.

CEX.IO Launches Crypto Savings Account Service With up to 20% APY

CEX.IO, a leading international cryptocurrency exchange, launches its Savings service as the newest solution in the fast-growing Earn ecosystem. Available in 171 countries, CEX.IO Savings offers users up to 20% Annual Percentage Yield (APY) on 19 different digital assets with the flexibility to move funds in and out of their accounts without any restrictions.

Similarly to savings accounts in the traditional finance industry, CEX.IO Savings offers users a way to generate a passive return on the digital assets they hold. However, unlike a savings account, the international exchange’s Savings product allows customers to add capital or withdraw their funds at any time without fees, expiration dates, or the requirement to lock their holdings for extended periods.

Currently, CEX.IO Savings users can earn interest between 2% and 20% APY on 19 different cryptocurrencies, including multiple stablecoins and DeFi tokens. However, the company is soon expanding its list of supported digital assets.

Users can earn interest in their cryptocurrencies in two ways within CEX.IO Savings. While Flexible Savings provides customers access to their funds any time they need, Locked Savings is for those who are planning to hold their digital assets for a longer time period. While users have to lock their assets until the expiration date, they can utilize this savings type to achieve higher returns with fixed interest rates. On the other hand, the APY for Flexible Savings is fixed on a daily basis. It is reviewed every 24 hours and will respond to the market conditions based on supply and demand.

CEX.IO launched its Savings service as part of the greater Earn ecosystem, which is centered around crypto users seeking to generate an extra income on their digital asset holdings. As the first solution in the Earn suite, CEX.IO launched Staking in 2020, a service that allows customers to earn rewards for locking up their tokens and maintaining the blockchain networks of cryptocurrency projects utilizing the Proof-of-Stake (PoS) consensus mechanism. One of the USPs of CEX.IO Staking is that CEX.IO takes on all the complexities of staking node management and technical integrations.

This allows CEX.IO Staking to guarantee fast capital withdrawals for our users to the extent that users can even place limit orders on our exchange with the assets they staked. This unique feature allows our users to keep generating a passive return on their staked asset while waiting for the price to increase up to the level when they would like to exit from their position.

Founded in 2013, CEX.IO is an international cryptocurrency exchange that offers a wide range of digital asset solutions to over 4 million customers. With a fast-growing ecosystem of innovative products, the London-based company serves all participants of the cryptocurrency market – from retail traders to institutional investors. With a robust, enterprise-grade service, CEX.IO’s multi-functional digital asset solutions feature cutting-edge security while being regulated in multiple jurisdictions, including the United States, Gibraltar, and Cyprus.

In July 2020 and February 2021, CryptoCompare ranked CEX.IO among the top 10 cryptocurrency exchanges worldwide in its Exchange Benchmark Rating. In both reports, the London-based company secured an A grade as well as the third spot in terms of security.

“The way the crypto market was developing in 2020 and 2021 provided digital asset holders a good deal of new options to earn. Staking, lending, and yield farming – to name a few. During the times we have spent in the DeFi sector, we noticed a demand among our users to earn passive income while holding crypto assets. For that reason, we decided to launch CEX.IO Earn, a new service within CEX.IO ecosystem allowing crypto owners to profit by contributing to the blockchain industry. After rolling out Staking and seeing the hugely positive market response, we are now launching Savings. With our new product, customers can earn interest after the coins they contributed on the platform while having the flexibility to withdraw their funds or increase their holdings to achieve better returns at any time,” Konstantin Anissimov, Executive Director at CEX.IO, stated.

GAMEE Token (GMEE) to Launch on Uniswap on 8 April 2021; Public Presale Sold Out in 7 Minutes; Concluded 2.2M USD Private Presale

7 April 2021 – Hong Kong –Animoca Brands and its subsidiary GAMEE announced that the GAMEE Token (GMEE) will launch on Uniswap on 8 April 2021 at 9 a.m. (UTC) at an opening price of 0.0888 USD, paired with ether (ETH), USD Coin (USDC), REVV, TOWER, and Lympo (LYM).

GAMEE held a public presale of GMEE on 2 April 2021 that sold out within 7 minutes. GAMEE has also concluded a 2.2 Million USD private presale of the GAMEE Tokens, with key investors including Metakovan from Metapurse (who recently bought Beeple’s “The First 5000 Days” at auction for 69.3 Million USD), OKEx’s Block Dream Fund, Mind Fund, Genesis Block, Smile Tech, Summit 33, Longling Capital, AKG Ventures, Everest Ventures, and other prominent angel investors.

Uniswap

GMEE is an ERC-20 fungible utility token designed to recognize and reward the efforts of players and to drive engagement on GAMEE’s social casual gaming platform. GMEE tokens have a variety of utility: they will serve as player rewards earned within GAMEE games, they will be used to pay for entry fees in special events, and they will have governance functions, including allowing token holders to vote on GAMEE roadmaps, game deployment, and the distribution of prize and rewards pools.

The supply of GMEE is fixed at 3,180,000,000 with all tokens minted at one time (contract address). More information on GMEE is available in the lightpaper.

Official launch on Uniswap on 8 April 2021

GMEE will be paired with ETH, USDC, REVV, TOWER, and LYM on Uniswap starting on 8 April 2021 at 9 a.m. (UTC). The opening price at launch is set to 0.0888 USD per GMEE. These GAMEE Tokens will be supplied by the GMEE Liquidity Pool (tokenomics and release schedule can be seen at this Medium post).

Successful GAMEE Tokens presale

On 2 April 2021, GAMEE held its first public presale of GMEE, hosted on the web site of its sister project REVV at https://revvmotorsport.com. 800 vouchers were available for this sale representing a total 5,000,000 GMEE. All vouchers were sold out within 7 minutes.

Vouchers will be redeemable for GMEE starting on 8 July 2021, three months after the token launch. The vouchers themselves are not locked and owners can now trade them without restriction on any secondary markets such as OpenSea. More information about the first public presale of the GAMEE Token can be found at the official Medium post.

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About GAMEE

GAMEE, a subsidiary of Animoca Brands, is a high-engagement hyper-casual gaming platform where users complete game missions, compete in tournaments and earn prizes for their activity. GAMEE was founded in 2015 in the Czech Republic and now has 25 million registered users. Start playing at https://www.gamee.com.

About Animoca Brands

Animoca Brands is a leader in the field of digital entertainment, specializing in blockchain, gamification, and artificial intelligence technologies to develop and publish a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Formula 1®, Marvel, WWE, Power Rangers, MotoGP™, and Doraemon. Animoca Brands’ portfolio of blockchain investments and partnerships includes Lucid Sight, Dapper Labs (creators of CryptoKitties and NBA Top Shot), WAX, Harmony, and Decentraland. Subsidiaries include The Sandbox, Quidd, Gamee, nWay, and Lympo. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook or Twitter.

PayPal CEO Says Bitcoin Could Be a Chinese Financial Weapon Against the U.S.

PayPal CEO Peter Thiel loves Bitcoin but hates it when China mines or uses it.

In a virtual event organized by the Richard Nixon Foundation, Peter Thiel explained that Bitcoin could be used by China as a weapon in the non-conventional war against the United States, taking advantage of its characteristics to counteract the hegemonic power of the dollar.

“Even though I’m sort of a pro-crypto, pro-Bitcoin maximalist person, I do wonder whether at this point Bitcoin should also be thought in part of as a Chinese financial weapon against the U.S.”

The World vs. The United States

Peter Thiel explained that Bitcoin threatens the very idea of fiat money but is especially dangerous to the U.S. dollar and called on U.S. strategists to take Bitcoin-related developments more seriously when studying the international geopolitical landscape.

However, Bitcoin hodlers are not the only ones who might take offense at being called a weapon of the Chinese communist party. According to the CEO of PayPal, the existence of the Euro itseld¿f is also a weapon of China in its conspiracy to destroy the power of the United States to control some critical aspects of the world economy:

“From China’s point of view, they don’t like the U.S. having this reserve currency, because it gives us a lot of leverage over things like the oil supply chain and things like that. They don’t want the Renminbi to become a reserve currency because then you have to open your capital account and do all sorts of things they really don’t want to do. I think the Euro you could think it is in part a Chinese weapon against the dollar”.

Regarding DECP, the digital currency that China is developing, Peter Thiel believes it cannot be compared to a cryptocurrency and called it a “totalitarian measuring device.”

The Global Tech Race According to The CEO of Paypal

Thiel’s words do not seem very harmonious with the patriotism he so proudly showed when attacking China. Several countries are developing their own digital currencies. Even the United States is beginning to advance the idea of creating a digital dollar with very similar characteristics to those of the Chinese money.

The CEO of PayPal is not concerned about China’s potential to innovate and create but rather about its power to copy things. In response to Michael Pompeo, he explained that China had not made many advances concerning blockchain technology. Still, if China reaches a position of parity with the United States from a technological point of view, the West would lose its advantage as a world geopolitical dominator.

Thiel regretted that Silicon Valley did not see China as an adversary. He pointed to Apple as a company that is a real structural problem for having “real synergies with China.” Google and Facebook were also mentioned by Thiel, who noted that they were friendly to the dreaded Chinese adversary.

Paypal has played a key role in the recent bullish trend of Bitcoin and the increase in cryptocurrency adoption.

Bitcoin price before and after Paypal supported it. Image: Tradingview

As reported by Cryptopotato, PayPal recently enabled service to purchase, store and process cryptocurrency payments for US customers, with prospects to release their support to other countries later in the year.

Hopefully, this massive boost to Bitcoin adoption will not be seen by regulators as a support for China’s crypto plans in the years ahead.