Weekly Wrap: Microsoft backs ConsenSys

Read the best crypto stories curated for you in another edition of the BitOasis Weekly Wrap.

TL;DR

Microsoft backs Ethereum co founder’s ConsenSys

Blockchain technology startup ConsenSys, which was created by Ethereum co-founder Joseph Lubin, has raised $450 million in a new round of funding that includes an investment from Microsoft. ConsenSys has more than doubled its valuation to $7 billion following this round of funding. The new funding was led by ParaFi Capital, with Microsoft, Japan’s SoftBank, and Singapore’s Temasek joining as new investors in the company.

Ethereum gets closer to proof of stake 

Ethereum has been on the journey to proof of stake for quite a while now. The network was recently testing a new way to approve transactions and launched, ‘Kiln.’ This is the last major public testing phase before the whole network transitions from Proof of Work sometime this year.  

Stripe is friends with crypto (again)

Payments giant Stripe, which already commands a pretty major swath of the internet, is now launching crypto payments support to give customers an easier way to interact with cryptocurrencies. Stripe’s support page notes that the company’s products will enable support for customers to buy more than 135+ cryptocurrencies. The company initially supported bitcoin payments from 2014 to 2018 after which several crypto payments processors tried to fill the gap. It’ll be interesting to see how the company’s re-entry to the space could increase competition given Stripe’s expansive reach.  

When life gives Algorand Limewire 

Algorand has been trending this week after its new update enhances the accessibility of the Algorand blockchain using smartwatches and smartphones. At the same time, Limewire, a discontinued file sharing client for Windows, has partnered with Algorand to relaunch as an NFT marketplace for music. Price-wise, the crypto, ALGO is worth about $0.749 and was up by 3.1% in 24 hours. 

Goldman Sachs offers ETH fund to customers

Goldman Sachs Group, Inc. plans to offer its larger clients access to Ethereum, through a fund issued by Galaxy Digital Holdings. Under the arrangement, Goldman will receive an introduction fee for referring clients to Galaxy’s Ethereum fund. 

It’s raining NFTs!

Very soon, we’ll be wondering who else is NOT into NFTs yet? In the past two weeks, major companies like Redbull, Disney’s Pixar, Warner Bros have decided to transition to the NFT space. Here’s the list: 

  • Popular energy drink giant Red Bull intends to expand into the Metaverse and offers branded NFTs. 
  • Pixar has launched an NFT collection called ‘Pixar Pals’ that features Woody from ‘Toy Story’ and more.
  • Warner Bros. is creating 6 million DC Comics trading cards with redeemable NFTs.

Weekend Reading  

  • Here’s a morbid question: What happens to your bitcoin when you die? Your answer.
  • Thread with thoughts: How Joe Biden’s Executive Order could be a turning point for crypto. Read and comment.

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