Crypto Update: Twitter, Google And McDonalds
The crypto market continues to grow despite general adverse trends. The market cap of cryptocurrencies increased by around 4.99 percent in October, which sparked considerable interest in the industry. Here are the most intriguing stories from the most recent cryptocurrency news.
According to what the firm stated at its Cloud Next conference, a connection with cryptocurrency exchange Coinbase is happening. It would allow the company to accept payments in cryptocurrencies. Coinbase Commerce accepts the most well-known digital currencies like Bitcoin, Ethereum, Dogecoin, Shiba Inu, Litecoin, and a few others, including stablecoin USDC. It will be the platform for crypto-payment collection.
Google will also make use of Coinbase Prime, its custodial service. Coinbase will consequently transfer data-related apps from the industry leader Amazon to Google because it derives the majority of its revenue from retail transactions.
The fast food franchise McDonald’s started taking Bitcoin payments. The international fast food restaurant is one of the first to take part in an experiment that is crypto-friendly in the Italian-speaking portion of Switzerland’s town of Lugano.
Bitcoin Magazine posted a brief video showing a woman placing an order at a McDonald’s digital kiosk and paying at the cash register on Twitter. The credit cash machine in the video had a logo next to the Bitcoin symbol. This is hardly shocking because the city of Lugano declared in March 2022 that it will recognize Bitcoin, Tether, and the LVGA token as legal money.
Elon Musk will acquire Twitter
Elon Musk is now working to complete the $54.20 per share acquisition of Twitter. This offer was made by the well-known businessman in April, and it almost resulted in an eight percent reduction, but it didn’t. The $44 billion merger is finally expected to close this week after a string of tiresome conversations and legal battles.
The issue of actually raising the required funds still exists, though. Elon Musk has already secured $12.5 billion in loan funding, but he still requires $32 billion to complete the transaction. To help with the cost, he is looking for outside investment. The electric vehicle maker is considering its first-ever stock repurchase, which could cost between $5 billion and $10 billion, at the same time that Musk is selling shares.
The price of Dogecoin crypto increased by 20% after Musk changed his Twitter handle to Chief Twit as a sign that the deal will eventually be completed. After Musk posted a video showing him entering Twitter’s headquarters, the price of DOGE also increased significantly.
There were other Twitter-related stories that made headlines. In addition to Musk’s tiresome ordeal with the purchase of Twitter. A new Web3-based cryptocurrency wallet for the social media firm is reportedly being developed. This is according to rumors that were originally made public by renowned software frontend developer Jane Manchun Wong. The rumors surface at a difficult time for the business.
The social media corporation has not made any formal statements or references about the situation. The wallet is anticipated to enable deposits and withdrawals. As Wong points out, but many other specifics, like the first token support, are unknown.
