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Revolut Held Over $742M Worth of Cryptocurrencies in Q4 of 2020: June Report

Revolut, the startup based in London held over $742 million worth of cryptocurrencies on behalf of its customers at the end of the fourth quarter of 2020.

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In accordance with the report released on June 21, Revolut, the startup based in London held over $742 million worth of cryptocurrencies on behalf of its customers at the terminal of the fourth quarter of the year 2020. As revealed by the firm on Monday, the financial results display a 57% uptick in the annual revenue a majority of which came from the United Kingdom.

Revolut Held Over $742M Worth of Cryptocurrencies in the Fourth Quarter of 2020

Back in the month of December of the year 2017, which is considered the peak of the earlier bullish trend, the London-based startup Revolut added digital asset trading.

In addition to this, it should be noted that apart from the United Kingdom, the financial results of the firm with the United States and other major markets had a negligible effect on the bottom line.

Moreover, in order to bring the service to the United States, the mobile banking startup joined hands with Paxos, a regulated crypto firm back in the month of July of the year 2020.

However, it should be noted that the boom in the crypto market assisted Revolut in a breakthrough in the fall driven by COVID-19 in card transactions. 

The Focus on Diversification in Income Streams

The Non-executive Chairman of the firm, Martin Gilbert said that the firm is at present devoted to diversifying its income streams and added:

“We increased our efforts to diversify our revenues, reducing the reliance on interchange and international travel and developing tools and services to facilitate consumer adoption of digital financial management.”

Well, regardless of everything else, Revolut did face a lot of losses that managed to reach a point of $280 million in the year 2020, with the directorial exorbitant being completely responsible for the major share of the sum that has already been mentioned in the article.

READ  Chinese Growing Interest For Filecoin Crypto Mining

#Cryptocurrencies #Fourth Quarter #London-based crypto custodian #Revolut

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Source: https://www.cryptoknowmics.com/news/revolut-held-over-742m-worth-of-cryptocurrencies-in-q4-of-2020-june-report

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Nigeria to Launch a Pilot for Its CBDC in October

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Amazon seems determined to maintain its reputation as an innovative company and is looking to experiment with cryptocurrencies through a digital currency payment and blockchain unit.

According to an announcement posted on Thursday, Amazon is looking for a blockchain specialist to lead its Digital Currency and Blockchain strategy.

The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap … You will work closely with teams across Amazon, including AWS, to develop the roadmap, including the customer experience, technical strategy and capabilities as well as the launch strategy.

What Amazon is Looking For

The expert must have at least an MBA or equivalent degree, 10+ years of business or technology experience, team management skills, understanding of data and metrics, and good communication skills.

The corporation did not disclose any salary offer. The person must be based on or willing to move to Seattle, Washington.

Amazon seems to be convinced of the need to innovate in the field of payments and finance. The cryptocurrency and blockchain development team is a sign of the company’s interest in exploring these emerging technologies to offer better financial products.


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According to an email shared by Business Insider, Amazon’s team confirmed its interest in exploring an approach to the world of cryptocurrencies. Still, they did not specify whether it would be through the development of a proprietary currency or through the acceptance of cryptocurrencies as a means of payment:

“We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon … We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”

An Old Relationship With Crypto

Amazon’s interest in the world of cryptocurrencies isn’t new. Back in 2017, it purchased, at least preemptively, a number of domains linking its brand to cryptocurrencies, including amazoncryptocurrency.com, amazoncryptocurrencies.com, and even amazonethereum.com.

However, at the time, Patrick Gauthier told CNBC that the e-commerce giant did not have much interest in cryptocurrencies and had no plans to support crypto payments.

In fact, the Pay With Moon plugin that allowed payments on Amazon with Bitcoin through Lightning Network had to change its business model to instead allow its users to purchase virtual credit cards instead of paying directly on Amazon’s site.

Also, as Cryptopotato reported in February this year, Amazon launched a job offer for a new payments system involving “Digital and Emerging Payments (DEP),” although they did not mention a direct relationship with Bitcoin or any cryptocurrency either.

This time, however, Amazon seems more willing to go public with its casual relationship with cryptos.

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Amazon Wants a Leader For Its Digital Currency and Blockchain Product Unit

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on

Amazon seems determined to maintain its reputation as an innovative company and is looking to experiment with cryptocurrencies through a digital currency payment and blockchain unit.

According to an announcement posted on Thursday, Amazon is looking for a blockchain specialist to lead its Digital Currency and Blockchain strategy.

The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap … You will work closely with teams across Amazon, including AWS, to develop the roadmap, including the customer experience, technical strategy and capabilities as well as the launch strategy.

What Amazon is Looking For

The expert must have at least an MBA or equivalent degree, 10+ years of business or technology experience, team management skills, understanding of data and metrics, and good communication skills.

The corporation did not disclose any salary offer. The person must be based on or willing to move to Seattle, Washington.

Amazon seems to be convinced of the need to innovate in the field of payments and finance. The cryptocurrency and blockchain development team is a sign of the company’s interest in exploring these emerging technologies to offer better financial products.


ADVERTISEMENT

According to an email shared by Business Insider, Amazon’s team confirmed its interest in exploring an approach to the world of cryptocurrencies. Still, they did not specify whether it would be through the development of a proprietary currency or through the acceptance of cryptocurrencies as a means of payment:

“We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon … We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”

An Old Relationship With Crypto

Amazon’s interest in the world of cryptocurrencies isn’t new. Back in 2017, it purchased, at least preemptively, a number of domains linking its brand to cryptocurrencies, including amazoncryptocurrency.com, amazoncryptocurrencies.com, and even amazonethereum.com.

However, at the time, Patrick Gauthier told CNBC that the e-commerce giant did not have much interest in cryptocurrencies and had no plans to support crypto payments.

In fact, the Pay With Moon plugin that allowed payments on Amazon with Bitcoin through Lightning Network had to change its business model to instead allow its users to purchase virtual credit cards instead of paying directly on Amazon’s site.

Also, as Cryptopotato reported in February this year, Amazon launched a job offer for a new payments system involving “Digital and Emerging Payments (DEP),” although they did not mention a direct relationship with Bitcoin or any cryptocurrency either.

This time, however, Amazon seems more willing to go public with its casual relationship with cryptos.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

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PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

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Source: https://coingenius.news/amazon-wants-a-leader-for-its-digital-currency-and-blockchain-product-unit-38/?utm_source=rss&utm_medium=rss&utm_campaign=amazon-wants-a-leader-for-its-digital-currency-and-blockchain-product-unit-38

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AI

Fintech Giant Zip Co to Provide Cryptocurrency Trading Services

Published

on

Amazon seems determined to maintain its reputation as an innovative company and is looking to experiment with cryptocurrencies through a digital currency payment and blockchain unit.

According to an announcement posted on Thursday, Amazon is looking for a blockchain specialist to lead its Digital Currency and Blockchain strategy.

The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap … You will work closely with teams across Amazon, including AWS, to develop the roadmap, including the customer experience, technical strategy and capabilities as well as the launch strategy.

What Amazon is Looking For

The expert must have at least an MBA or equivalent degree, 10+ years of business or technology experience, team management skills, understanding of data and metrics, and good communication skills.

The corporation did not disclose any salary offer. The person must be based on or willing to move to Seattle, Washington.

Amazon seems to be convinced of the need to innovate in the field of payments and finance. The cryptocurrency and blockchain development team is a sign of the company’s interest in exploring these emerging technologies to offer better financial products.


ADVERTISEMENT

According to an email shared by Business Insider, Amazon’s team confirmed its interest in exploring an approach to the world of cryptocurrencies. Still, they did not specify whether it would be through the development of a proprietary currency or through the acceptance of cryptocurrencies as a means of payment:

“We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon … We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”

An Old Relationship With Crypto

Amazon’s interest in the world of cryptocurrencies isn’t new. Back in 2017, it purchased, at least preemptively, a number of domains linking its brand to cryptocurrencies, including amazoncryptocurrency.com, amazoncryptocurrencies.com, and even amazonethereum.com.

However, at the time, Patrick Gauthier told CNBC that the e-commerce giant did not have much interest in cryptocurrencies and had no plans to support crypto payments.

In fact, the Pay With Moon plugin that allowed payments on Amazon with Bitcoin through Lightning Network had to change its business model to instead allow its users to purchase virtual credit cards instead of paying directly on Amazon’s site.

Also, as Cryptopotato reported in February this year, Amazon launched a job offer for a new payments system involving “Digital and Emerging Payments (DEP),” although they did not mention a direct relationship with Bitcoin or any cryptocurrency either.

This time, however, Amazon seems more willing to go public with its casual relationship with cryptos.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

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Source: https://coingenius.news/fintech-giant-zip-co-to-provide-cryptocurrency-trading-services-24/?utm_source=rss&utm_medium=rss&utm_campaign=fintech-giant-zip-co-to-provide-cryptocurrency-trading-services-24

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Locked Out of Millions: Couple Can’t Access $5.8M Worth of Ethereum

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Yuki and Art Williams, who purchased 3,000 Ethereum coins back in 2014, can not open their crypto wallet. The family claims that the essential JSON file was never downloaded, and thus they don’t have access to their $5.8 million.

In Search for Help

According to the American media 7news, the Washington DC family Yuki and Art Williams possess 3,000 ETH coins in their crypto wallet. Unfortunately, the wife and husband can only see them and not access the assets. The couple insisted that when they bought the assets in 2014, the JSON file was never downloaded. Art Williams said:

“The instructions were to leave your computer on for an hour and a half and as the progression bar showed it populating the JSON file would appear. Unfortunately for us, it did not appear.”

Calculated in today’s prices, the wallet contains $5.8 million. Mr. Williams told 7news that the Ethereum Foundation promised him to solve the issue and send him a backup JSON file. However, the family is still waiting.

In another attempt to access their funds, the couple e-mailed the Foundation based in Switzerland and showed them proof of purchase and screenshots of the problem. 7news also tried to reach out to the Ethereum Foundation but received no comment.

The last move that the family is yet to make is to hire a law firm that would open a case in court in Switzerland. The attorneys would demand that the Ethereum Foundation grant a JSON file to the desperate couple during the process.


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“Devastating, to say the least. Obviously, that’s life-changing money,” added Mr. Williams.

The Man Who Lost Access to 7,002 BTC

Investing in cryptocurrencies is not risky only because of the volatile nature of the assets. Apart from that, investors need to save and protect their private keys. In case someone loses their private keys, that could lead to an irreversible disaster. Such is the case with Stefan Thomas and his bitcoins worth more than $223 million.

As CryptoPotato reported earlier in the year, the resident of San Francisco produced an educational video called “What is Bitcoin?” for another crypto fan and received 7,002 bitcoins for his services.

However, Thomas didn’t pay much attention to his new holdings as they had a little-to-no value at the time, and he lost the digital keys to the wallet. In the following years, though, BTC’s price exploded, and now the 7,002 coins are worth around $223 million.

The wallet called IronKey allows users ten attempts to guess the password. So far, Thomas has tried eight times to access the funds, but they were all unsuccessful. If he fails ten times, the wallet will be encrypted forever.

“I would just lay in bed and think about it. Then, I would go to the computer with some new strategy, and it wouldn’t work, and I would be desperate again,” the man revealed.

To avoid any of the above, it’s highly recommended that you take crypto security seriously and make sure to always follow these tips.

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Source: https://coingenius.news/locked-out-of-millions-couple-cant-access-5-8m-worth-of-ethereum-17/?utm_source=rss&utm_medium=rss&utm_campaign=locked-out-of-millions-couple-cant-access-5-8m-worth-of-ethereum-17

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